Meeder Asset Management Inc. increased its holdings in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 1,042.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,045 shares of the software maker's stock after buying an additional 43,840 shares during the quarter. Meeder Asset Management Inc. owned 0.08% of Paycom Software worth $8,003,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Armstrong Advisory Group Inc. purchased a new stake in shares of Paycom Software in the third quarter worth about $26,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Paycom Software in the second quarter worth about $25,000. MFA Wealth Advisors LLC purchased a new stake in shares of Paycom Software in the second quarter worth about $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Paycom Software in the second quarter worth about $27,000. Finally, Sentry Investment Management LLC purchased a new stake in shares of Paycom Software in the second quarter worth about $33,000. 87.77% of the stock is currently owned by hedge funds and other institutional investors.
Paycom Software Stock Down 0.9 %
Shares of Paycom Software stock traded down $1.98 during mid-day trading on Tuesday, reaching $216.92. 415,093 shares of the stock traded hands, compared to its average volume of 808,659. The business has a 50-day moving average of $181.34 and a 200 day moving average of $165.99. Paycom Software, Inc. has a fifty-two week low of $139.50 and a fifty-two week high of $233.69. The stock has a market capitalization of $12.51 billion, a PE ratio of 26.12, a PEG ratio of 2.94 and a beta of 1.14.
Paycom Software Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 25th will be issued a dividend of $0.375 per share. The ex-dividend date of this dividend is Monday, November 25th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.69%. Paycom Software's payout ratio is currently 18.05%.
Wall Street Analyst Weigh In
PAYC has been the topic of a number of recent research reports. Needham & Company LLC restated a "hold" rating on shares of Paycom Software in a research note on Thursday, August 1st. Barclays upped their price target on Paycom Software from $172.00 to $181.00 and gave the stock an "equal weight" rating in a report on Thursday, October 31st. Jefferies Financial Group upped their price target on Paycom Software from $170.00 to $175.00 and gave the stock a "hold" rating in a report on Thursday, October 31st. BMO Capital Markets upped their price target on Paycom Software from $183.00 to $197.00 and gave the stock a "market perform" rating in a report on Thursday, October 31st. Finally, Piper Sandler upped their price target on Paycom Software from $160.00 to $191.00 and gave the stock a "neutral" rating in a report on Thursday, October 31st. Twelve investment analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to MarketBeat.com, Paycom Software currently has an average rating of "Hold" and an average price target of $193.67.
Check Out Our Latest Stock Analysis on PAYC
Insider Buying and Selling at Paycom Software
In other news, CEO Chad R. Richison sold 1,950 shares of the company's stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $160.35, for a total value of $312,682.50. Following the completion of the sale, the chief executive officer now directly owns 2,947,658 shares in the company, valued at $472,656,960.30. This represents a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold 58,500 shares of company stock valued at $10,361,228 over the last quarter. 12.60% of the stock is currently owned by insiders.
Paycom Software Profile
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Free Report)
Paycom Software, Inc provides cloud-based human capital management (HCM) solution delivered as software-as-a-service for small to mid-sized companies in the United States. It offers functionality and data analytics that businesses need to manage the employment life cycle from recruitment to retirement.
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