Principal Financial Group Inc. Increases Stock Holdings in Paycom Software, Inc. (NYSE:PAYC)

Principal Financial Group Inc. increased its position in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 9.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 65,809 shares of the software maker's stock after purchasing an additional 5,574 shares during the quarter. Principal Financial Group Inc. owned 0.11% of Paycom Software worth $10,962,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Kingsview Wealth Management LLC lifted its holdings in shares of Paycom Software by 51.5% during the 1st quarter. Kingsview Wealth Management LLC now owns 2,176 shares of the software maker's stock worth $433,000 after acquiring an additional 740 shares during the period. Orion Portfolio Solutions LLC raised its position in Paycom Software by 39.4% during the first quarter. Orion Portfolio Solutions LLC now owns 10,797 shares of the software maker's stock valued at $2,149,000 after purchasing an additional 3,049 shares in the last quarter. Intech Investment Management LLC lifted its stake in Paycom Software by 54.6% during the first quarter. Intech Investment Management LLC now owns 3,526 shares of the software maker's stock worth $702,000 after purchasing an additional 1,245 shares during the last quarter. Edgestream Partners L.P. boosted its holdings in shares of Paycom Software by 31.4% in the 1st quarter. Edgestream Partners L.P. now owns 4,658 shares of the software maker's stock valued at $927,000 after purchasing an additional 1,114 shares in the last quarter. Finally, Covestor Ltd increased its stake in shares of Paycom Software by 56.7% in the 1st quarter. Covestor Ltd now owns 920 shares of the software maker's stock valued at $183,000 after purchasing an additional 333 shares during the last quarter. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the company's stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $162.27, for a total transaction of $316,426.50. Following the transaction, the chief executive officer now owns 2,961,308 shares in the company, valued at approximately $480,531,449.16. This represents a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Over the last quarter, insiders have sold 58,500 shares of company stock worth $10,361,228. Corporate insiders own 14.50% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PAYC. 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. BMO Capital Markets lifted 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. Needham & Company LLC reissued a "hold" rating on shares of Paycom Software in a research note on Thursday, August 1st. Citigroup boosted their target price on shares of Paycom Software from $172.00 to $196.00 and gave the stock a "neutral" rating in a research note on Thursday, October 31st. Finally, TD Cowen increased their price target on Paycom Software from $171.00 to $188.00 and gave the company a "hold" rating in a research note on Monday, September 23rd. Twelve equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $193.67.

Paycom Software Stock Performance

Shares of Paycom Software stock traded down $0.98 on Monday, reaching $218.90. 373,019 shares of the company's stock were exchanged, compared to its average volume of 810,423. The company has a market capitalization of $12.62 billion, a P/E ratio of 26.46, a price-to-earnings-growth ratio of 2.94 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. The firm's 50-day moving average is $180.24 and its two-hundred day moving average is $165.62.

Paycom Software Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Investors 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 yield of 0.69%. The ex-dividend date is 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.