Orion Portfolio Solutions LLC Purchases 3,802 Shares of Paycom Software, Inc. (NYSE:PAYC)

Orion Portfolio Solutions LLC raised its stake in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 52.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,051 shares of the software maker's stock after acquiring an additional 3,802 shares during the quarter. Orion Portfolio Solutions LLC's holdings in Paycom Software were worth $1,841,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Sylebra Capital LLC raised its holdings in shares of Paycom Software by 53.9% in the second quarter. Sylebra Capital LLC now owns 1,957,468 shares of the software maker's stock worth $279,996,000 after buying an additional 685,190 shares during the last quarter. FMR LLC lifted its position in Paycom Software by 55.0% during the 3rd quarter. FMR LLC now owns 1,007,919 shares of the software maker's stock worth $167,889,000 after acquiring an additional 357,723 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in Paycom Software by 1.0% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 627,510 shares of the software maker's stock valued at $104,524,000 after purchasing an additional 6,488 shares during the last quarter. Federated Hermes Inc. grew its stake in 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 during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Paycom Software by 45.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 486,462 shares of the software maker's stock worth $81,030,000 after purchasing an additional 151,807 shares during the last quarter. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PAYC. Mizuho increased their price target on Paycom Software from $190.00 to $210.00 and gave the stock a "neutral" rating in a research report on Friday. Jefferies Financial Group boosted their target price on shares of Paycom Software from $170.00 to $175.00 and gave the company a "hold" rating in a research note on Thursday, October 31st. Citigroup raised their price target 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. Barclays lifted their price objective 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. Finally, Piper Sandler lifted their price target on Paycom Software from $160.00 to $191.00 and gave the company a "neutral" rating in a research note on Thursday, October 31st. Twelve investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $202.56.

Insider Buying and Selling

In related news, CEO Chad R. Richison sold 1,950 shares of the business's stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $170.19, for a total transaction of $331,870.50. Following the transaction, the chief executive officer now owns 2,810,910 shares of the company's stock, valued at approximately $478,388,772.90. The trade was a 0.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last ninety days, insiders sold 48,750 shares of company stock worth $8,771,880. Corporate insiders own 14.50% of the company's stock.

Paycom Software Stock Performance

Shares of PAYC traded down $5.50 during mid-day trading on Friday, reaching $234.50. 459,891 shares of the company's stock traded hands, compared to its average volume of 788,223. The business's 50-day moving average price is $204.13 and its 200-day moving average price is $173.15. The stock has a market capitalization of $13.52 billion, a P/E ratio of 28.22, a price-to-earnings-growth ratio of 3.20 and a beta of 1.11. Paycom Software, Inc. has a 12 month low of $139.50 and a 12 month high of $242.74.

Paycom Software Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, November 25th were paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date was Monday, November 25th. Paycom Software's dividend payout ratio (DPR) is currently 18.05%.

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.