Montanaro Asset Management Ltd Buys 2,300 Shares of Paycom Software, Inc. (NYSE:PAYC)

Montanaro Asset Management Ltd boosted its stake in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 18.2% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,925 shares of the software maker's stock after buying an additional 2,300 shares during the period. Montanaro Asset Management Ltd's holdings in Paycom Software were worth $2,486,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PAYC. Sylebra Capital LLC bought a new position in Paycom Software in the 1st quarter valued at about $253,196,000. Federated Hermes Inc. boosted its position in shares of Paycom Software by 1,011.2% during the 2nd quarter. Federated Hermes Inc. now owns 581,964 shares of the software maker's stock valued at $83,244,000 after purchasing an additional 529,591 shares in the last quarter. International Assets Investment Management LLC boosted its position in shares of Paycom Software by 9,997.5% during the 3rd quarter. International Assets Investment Management LLC now owns 281,315 shares of the software maker's stock valued at $46,859,000 after purchasing an additional 278,529 shares in the last quarter. Confluence Investment Management LLC boosted its position in shares of Paycom Software by 147.3% during the 3rd quarter. Confluence Investment Management LLC now owns 377,876 shares of the software maker's stock valued at $62,943,000 after purchasing an additional 225,081 shares in the last quarter. Finally, Raymond James & Associates boosted its position in shares of Paycom Software by 769.2% during the 2nd quarter. Raymond James & Associates now owns 201,366 shares of the software maker's stock valued at $28,803,000 after purchasing an additional 178,198 shares in the last quarter. Institutional investors own 87.77% of the company's stock.

Insider Transactions at Paycom Software

In other news, CEO Chad R. Richison sold 1,950 shares of the firm's stock in a transaction on Monday, August 12th. The shares were sold at an average price of $155.63, for a total value of $303,478.50. Following the sale, the chief executive officer now owns 2,978,858 shares in the company, valued at approximately $463,599,670.54. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Chad R. Richison sold 1,950 shares of the firm's stock in a transaction on Monday, August 12th. The shares were sold at an average price of $155.63, for a total value of $303,478.50. Following the sale, the chief executive officer now owns 2,978,858 shares in the company, valued at approximately $463,599,670.54. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Craig E. Boelte sold 11,882 shares of Paycom Software stock in a transaction on Monday, August 12th. The stock was sold at an average price of $155.98, for a total transaction of $1,853,354.36. Following the sale, the chief financial officer now owns 294,849 shares in the company, valued at $45,990,547.02. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 70,382 shares of company stock worth $11,805,199. Insiders own 14.50% of the company's stock.

Paycom Software Stock Up 0.7 %

PAYC stock traded up $1.56 during midday trading on Friday, hitting $228.75. 492,992 shares of the company traded hands, compared to its average volume of 759,874. Paycom Software, Inc. has a twelve month low of $139.50 and a twelve month high of $233.69. The business has a 50 day simple moving average of $173.56 and a 200-day simple moving average of $164.47. The stock has a market capitalization of $13.19 billion, a price-to-earnings ratio of 27.53, a price-to-earnings-growth ratio of 3.06 and a beta of 1.14.

Paycom Software Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 25th will be paid a $0.375 dividend. The ex-dividend date is Monday, November 25th. This represents a $1.50 annualized dividend and a dividend yield of 0.66%. Paycom Software's payout ratio is 18.05%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PAYC. Citigroup raised their price objective on shares of Paycom Software from $172.00 to $196.00 and gave the company a "neutral" rating in a research report on Thursday, October 31st. Piper Sandler upped their price objective on shares of Paycom Software from $160.00 to $191.00 and gave the company a "neutral" rating in a research note on Thursday, October 31st. Barclays upped their price objective on shares of Paycom Software from $172.00 to $181.00 and gave the company an "equal weight" rating in a research note on Thursday, October 31st. StockNews.com lowered shares of Paycom Software from a "buy" rating to a "hold" rating in a research note on Monday, July 15th. Finally, BMO Capital Markets upped their price objective on shares of Paycom Software from $183.00 to $197.00 and gave the company a "market perform" rating in a research note on Thursday, October 31st. Twelve research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, Paycom Software currently has an average rating of "Hold" and a consensus price target of $193.67.

Paycom Software Company Profile

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.