Reinhart Partners LLC. Increases Holdings in Paycom Software, Inc. (NYSE:PAYC)

Reinhart Partners LLC. raised its holdings in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 27.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 59,614 shares of the software maker's stock after acquiring an additional 12,778 shares during the quarter. Reinhart Partners LLC. owned approximately 0.10% of Paycom Software worth $12,219,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently bought and sold shares of the company. Nisa Investment Advisors LLC lifted its stake in shares of Paycom Software by 51.4% during 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 in the last quarter. JPMorgan Chase & Co. boosted its stake 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. Profund Advisors LLC purchased a new stake in shares of Paycom Software during the second quarter worth about $589,000. Sylebra Capital LLC raised its stake in Paycom Software by 53.9% during 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 during the period. Finally, Principal Financial Group Inc. lifted its holdings in Paycom Software by 9.3% in the 3rd 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 in the last quarter. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PAYC. Jefferies Financial Group lifted their price objective on shares of Paycom Software from $170.00 to $175.00 and gave the company a "hold" rating in a research report on Thursday, October 31st. 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. Piper Sandler increased their price objective on shares of Paycom Software from $160.00 to $191.00 and gave the company a "neutral" rating in a report on Thursday, October 31st. TD Cowen lifted their target price on Paycom Software from $193.00 to $248.00 and gave the stock a "hold" rating in a report on Monday, December 9th. Finally, Mizuho increased their price target on Paycom Software from $190.00 to $210.00 and gave the company a "neutral" rating in a research note on Friday, December 13th. Eleven research analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $196.63.

Insider Activity

In other news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $163.51, for a total transaction of $318,844.50. Following the completion of the sale, the chief executive officer now directly owns 2,770,410 shares in the company, valued at approximately $452,989,739.10. This trade represents a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders have sold 25,350 shares of company stock valued at $4,853,570. 14.50% of the stock is currently owned by company insiders.

Paycom Software Price Performance

Shares of Paycom Software stock traded down $1.25 on Monday, reaching $200.75. The company had a trading volume of 350,826 shares, compared to its average volume of 469,989. The firm has a market cap of $11.58 billion, a price-to-earnings ratio of 24.16, a P/E/G ratio of 3.12 and a beta of 1.14. The firm's 50-day moving average price is $220.82 and its two-hundred day moving average price is $182.63. Paycom Software, Inc. has a 1 year low of $139.50 and a 1 year high of $242.74.

Paycom Software Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, November 25th were given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 0.75%. The ex-dividend date of this dividend was Monday, November 25th. Paycom Software's dividend payout ratio (DPR) is 18.05%.

Paycom Software 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.