Nordea Investment Management AB raised its position in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 3.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 204,377 shares of the software maker's stock after purchasing an additional 6,916 shares during the period. Nordea Investment Management AB owned 0.35% of Paycom Software worth $41,952,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also bought and sold shares of the company. Everence Capital Management Inc. bought a new stake in shares of Paycom Software in the fourth quarter valued at approximately $314,000. GAMMA Investing LLC lifted its position in shares of Paycom Software by 81.1% during the fourth quarter. GAMMA Investing LLC now owns 585 shares of the software maker's stock worth $120,000 after acquiring an additional 262 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Paycom Software by 14.5% in the third quarter. JPMorgan Chase & Co. now owns 326,018 shares of the software maker's stock worth $54,305,000 after acquiring an additional 41,187 shares during the period. Principal Financial Group Inc. grew its position in shares of Paycom Software by 9.3% in the third quarter. Principal Financial Group Inc. now owns 65,809 shares of the software maker's stock valued at $10,962,000 after purchasing an additional 5,574 shares in the last quarter. Finally, Peapack Gladstone Financial Corp raised its stake in shares of Paycom Software by 71.7% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 2,488 shares of the software maker's stock valued at $414,000 after purchasing an additional 1,039 shares during the period. 87.77% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at Paycom Software
In other news, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $229.09, for a total transaction of $446,725.50. Following the completion of the sale, the chief executive officer now owns 2,731,410 shares of the company's stock, valued at approximately $625,738,716.90. This represents a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders have sold 29,250 shares of company stock valued at $5,492,000. Insiders own 12.60% of the company's stock.
Paycom Software Stock Performance
NYSE:PAYC traded down $2.52 during mid-day trading on Wednesday, reaching $199.58. The stock had a trading volume of 449,173 shares, compared to its average volume of 477,055. The stock has a market capitalization of $11.51 billion, a P/E ratio of 24.02, a P/E/G ratio of 3.12 and a beta of 1.14. The firm has a 50 day moving average price of $220.63 and a two-hundred day moving average price of $181.40. Paycom Software, Inc. has a one year low of $139.50 and a one year high of $242.74.
Paycom Software Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Stockholders of record on Monday, November 25th were paid a $0.375 dividend. The ex-dividend date of this dividend was Monday, November 25th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.75%. Paycom Software's dividend payout ratio (DPR) is 18.05%.
Analyst Upgrades and Downgrades
PAYC has been the subject of several analyst reports. Citigroup raised their target price on Paycom Software from $172.00 to $196.00 and gave the stock a "neutral" rating in a research note on Thursday, October 31st. StockNews.com raised shares of Paycom Software from a "hold" rating to a "buy" rating in a report on Monday, December 16th. Barclays raised their price target on shares of Paycom Software from $172.00 to $181.00 and gave the company an "equal weight" rating in a report on Thursday, October 31st. Piper Sandler upped their price target on shares of Paycom Software from $160.00 to $191.00 and gave the stock a "neutral" rating in a report on Thursday, October 31st. Finally, BMO Capital Markets lifted their price objective on Paycom Software from $183.00 to $197.00 and gave the company a "market perform" rating in a research note on Thursday, October 31st. Eleven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $202.56.
Read Our Latest Stock Analysis on Paycom Software
About Paycom Software
(
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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