Natixis Advisors LLC Acquires 13,640 Shares of Paycom Software, Inc. (NYSE:PAYC)

Natixis Advisors LLC increased its stake in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 23.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 70,940 shares of the software maker's stock after acquiring an additional 13,640 shares during the quarter. Natixis Advisors LLC owned about 0.12% of Paycom Software worth $11,816,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of PAYC. Sylebra Capital LLC bought a new position in shares of Paycom Software during the 1st quarter valued at about $253,196,000. Federated Hermes Inc. lifted its position in shares of Paycom Software by 1,011.2% in the second quarter. Federated Hermes Inc. now owns 581,964 shares of the software maker's stock worth $83,244,000 after buying an additional 529,591 shares in the last quarter. International Assets Investment Management LLC boosted its stake in Paycom Software by 9,997.5% during the third quarter. International Assets Investment Management LLC now owns 281,315 shares of the software maker's stock valued at $46,859,000 after buying an additional 278,529 shares during the last quarter. Confluence Investment Management LLC grew its holdings in 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 buying an additional 225,081 shares in the last quarter. Finally, Raymond James & Associates increased its stake in Paycom Software by 769.2% in the 2nd quarter. Raymond James & Associates now owns 201,366 shares of the software maker's stock worth $28,803,000 after acquiring an additional 178,198 shares during the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

Paycom Software Stock Up 1.3 %

PAYC opened at $219.67 on Thursday. The business has a fifty day moving average of $182.32 and a 200 day moving average of $166.31. The stock has a market cap of $12.67 billion, a P/E ratio of 26.43, a PEG ratio of 2.90 and a beta of 1.14. Paycom Software, Inc. has a 52-week low of $139.50 and a 52-week high of $233.69.

Paycom Software Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 25th will be paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date of this dividend is Monday, November 25th. Paycom Software's dividend payout ratio is currently 18.05%.

Analyst Ratings Changes

A number of research firms recently weighed in on PAYC. Jefferies Financial Group raised their target price on shares of Paycom Software from $170.00 to $175.00 and gave the company a "hold" rating in a report on Thursday, October 31st. Needham & Company LLC restated a "hold" rating on shares of Paycom Software in a report on Thursday, August 1st. BMO Capital Markets increased their price target on shares of Paycom Software from $183.00 to $197.00 and gave the company a "market perform" rating in a report on Thursday, October 31st. Piper Sandler boosted their price objective on Paycom Software from $160.00 to $191.00 and gave the stock a "neutral" rating in a research note on Thursday, October 31st. Finally, Mizuho raised their price objective on Paycom Software from $170.00 to $190.00 and gave the company a "neutral" rating in a research note on Monday, November 4th. Twelve equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Paycom Software has a consensus rating of "Hold" and an average target price of $193.67.

Insider Transactions at Paycom Software

In related news, CEO Chad R. Richison sold 1,950 shares of the business's stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $229.09, for a total value of $446,725.50. Following the completion of the sale, the chief executive officer now owns 2,731,410 shares in the company, valued at approximately $625,738,716.90. The trade was a 0.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders have sold 58,500 shares of company stock worth $10,361,228. Insiders own 14.50% of the company's stock.

Paycom Software 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.