Paycom Software, Inc. (NYSE:PAYC) Shares Purchased by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its position in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 14.5% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 326,018 shares of the software maker's stock after buying an additional 41,187 shares during the quarter. JPMorgan Chase & Co. owned about 0.57% of Paycom Software worth $54,305,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Nisa Investment Advisors LLC lifted its holdings in shares of Paycom Software by 51.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,666 shares of the software maker's stock valued at $444,000 after buying an additional 905 shares during the period. Profund Advisors LLC acquired a new stake in shares of Paycom Software in the 2nd quarter worth approximately $589,000. Sylebra Capital LLC increased its stake in Paycom Software by 53.9% in the 2nd quarter. Sylebra Capital LLC now owns 1,957,468 shares of the software maker's stock valued at $279,996,000 after purchasing an additional 685,190 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Paycom Software by 9.3% during the third quarter. Principal Financial Group Inc. now owns 65,809 shares of the software maker's stock worth $10,962,000 after purchasing an additional 5,574 shares during the last quarter. Finally, FMR LLC grew its holdings in Paycom Software by 55.0% in the third quarter. FMR LLC now owns 1,007,919 shares of the software maker's stock valued at $167,889,000 after purchasing an additional 357,723 shares during the last quarter. Hedge funds and other institutional investors own 87.77% of the company's stock.

Wall Street Analyst Weigh In

PAYC has been the subject of several research reports. BMO Capital Markets lifted their price target on Paycom Software from $183.00 to $197.00 and gave the stock a "market perform" rating in a research note on Thursday, October 31st. Jefferies Financial Group lifted their target price on shares of Paycom Software from $170.00 to $175.00 and gave the stock a "hold" rating in a research report on Thursday, October 31st. Mizuho increased their price target on shares of Paycom Software from $190.00 to $210.00 and gave the company a "neutral" rating in a research report on Friday, December 13th. StockNews.com raised shares of Paycom Software from a "hold" rating to a "buy" rating in a research note on Monday, December 16th. Finally, Piper Sandler upped their target price on Paycom Software from $160.00 to $191.00 and gave the company a "neutral" 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. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $202.56.

Paycom Software Trading Up 1.2 %

Shares of Paycom Software stock traded up $2.46 during trading hours on Friday, reaching $203.86. 410,707 shares of the company's stock were exchanged, compared to its average volume of 470,603. The firm has a market capitalization of $11.75 billion, a price-to-earnings ratio of 24.53, a price-to-earnings-growth ratio of 3.12 and a beta of 1.14. Paycom Software, Inc. has a 52-week low of $139.50 and a 52-week high of $242.74. The company has a fifty day moving average of $219.14 and a 200-day moving average of $180.31.

Paycom Software Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, November 25th were paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date of this dividend was Monday, November 25th. Paycom Software's payout ratio is 18.05%.

Insider Buying and Selling at Paycom Software

In related news, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $162.17, for a total value of $316,231.50. Following the transaction, the chief executive officer now directly owns 2,780,160 shares of the company's stock, valued at approximately $450,858,547.20. This trade represents a 0.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders sold 33,150 shares of company stock worth $6,130,586 in the last 90 days. 14.50% of the stock is owned by company insiders.

About Paycom Software

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.