Free Trial

Quantinno Capital Management LP Raises Stock Holdings in Paycom Software, Inc. (NYSE:PAYC)

Paycom Software logo with Computer and Technology background

Quantinno Capital Management LP grew its stake in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 234.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 19,120 shares of the software maker's stock after buying an additional 13,396 shares during the quarter. Quantinno Capital Management LP's holdings in Paycom Software were worth $3,185,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Integrated Wealth Concepts LLC acquired a new stake in shares of Paycom Software during the 3rd quarter worth about $206,000. Investment Management Corp of Ontario acquired a new position in Paycom Software during the third quarter worth approximately $275,000. HighTower Advisors LLC increased its position in Paycom Software by 4.7% during the third quarter. HighTower Advisors LLC now owns 15,031 shares of the software maker's stock worth $2,474,000 after buying an additional 672 shares during the period. Holocene Advisors LP increased its position in Paycom Software by 0.7% during the third quarter. Holocene Advisors LP now owns 42,088 shares of the software maker's stock worth $7,011,000 after buying an additional 280 shares during the period. Finally, Benjamin Edwards Inc. increased its position in Paycom Software by 805.5% during the third quarter. Benjamin Edwards Inc. now owns 5,442 shares of the software maker's stock worth $906,000 after buying an additional 4,841 shares during the period. Hedge funds and other institutional investors own 87.77% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on PAYC shares. Jefferies Financial Group lifted their price target on Paycom Software from $170.00 to $175.00 and gave the stock a "hold" rating in a research report on Thursday, October 31st. Piper Sandler lifted their price target on Paycom Software from $160.00 to $191.00 and gave the stock a "neutral" rating in a research report on Thursday, October 31st. Mizuho lifted their price target on Paycom Software from $170.00 to $190.00 and gave the stock a "neutral" rating in a research report on Monday, November 4th. TD Cowen lifted their target price on Paycom Software from $193.00 to $248.00 and gave the company a "hold" rating in a research note on Monday. Finally, Citigroup lifted their target price on Paycom Software from $172.00 to $196.00 and gave the company a "neutral" rating in a research note on Thursday, October 31st. Twelve analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, Paycom Software presently has a consensus rating of "Hold" and an average target price of $200.33.

Check Out Our Latest Stock Report on Paycom Software

Insider Buying and Selling at Paycom Software

In other news, CEO Chad R. Richison sold 1,950 shares of the company's stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $170.27, for a total value of $332,026.50. Following the completion of the sale, the chief executive officer now owns 2,932,058 shares of the company's stock, valued at $499,241,515.66. This represents a 0.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last 90 days, insiders sold 50,700 shares of company stock valued at $9,098,135. Company insiders own 12.60% of the company's stock.

Paycom Software Stock Performance

Paycom Software stock traded up $0.15 during trading on Tuesday, hitting $235.09. The company's stock had a trading volume of 205,337 shares, compared to its average volume of 789,883. The stock has a market capitalization of $13.56 billion, a price-to-earnings ratio of 28.27, a P/E/G ratio of 3.15 and a beta of 1.11. The stock's fifty day moving average is $199.80 and its 200 day moving average is $171.75. Paycom Software, Inc. has a 1-year low of $139.50 and a 1-year high of $238.57.

Paycom Software Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 9th. Investors 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 annualized dividend and a yield of 0.64%. Paycom Software's payout ratio is currently 18.05%.

Paycom Software Company Profile

(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.

Recommended Stories

Institutional Ownership by Quarter for Paycom Software (NYSE:PAYC)

Should you invest $1,000 in Paycom Software right now?

Before you consider Paycom Software, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Paycom Software wasn't on the list.

While Paycom Software currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

A Guide To High-Short-Interest Stocks Cover

MarketBeat's analysts have just released their top five short plays for December 2024. Learn which stocks have the most short interest and how to trade them. Click the link below to see which companies made the list.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

From Landfills to Profits: Opal Fuels CEO Shares How the Company Turns Trash into Cash
The Real Reason Tesla Stock Is Soaring – and Why Tech Expert Says It Won’t Stop
Best ETFs for 2025: Growth, Stability, and AI-Driven Investing

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines