Stifel Financial Corp Raises Position in Paycom Software, Inc. (NYSE:PAYC)

Stifel Financial Corp increased its stake in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 18.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 41,071 shares of the software maker's stock after purchasing an additional 6,421 shares during the period. Stifel Financial Corp owned approximately 0.07% of Paycom Software worth $6,841,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC boosted its position in Paycom Software by 51.4% in the third quarter. Nisa Investment Advisors LLC now owns 2,666 shares of the software maker's stock worth $444,000 after purchasing an additional 905 shares during the last quarter. Profund Advisors LLC purchased a new position in shares of Paycom Software in the second quarter worth approximately $589,000. Sylebra Capital LLC grew its position in Paycom Software by 53.9% during the second quarter. Sylebra Capital LLC now owns 1,957,468 shares of the software maker's stock valued at $279,996,000 after buying an additional 685,190 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in Paycom Software by 1,549.8% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 21,662 shares of the software maker's stock valued at $3,098,000 after buying an additional 20,349 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in Paycom Software by 9.3% in the third quarter. Principal Financial Group Inc. now owns 65,809 shares of the software maker's stock worth $10,962,000 after acquiring an additional 5,574 shares during the period. Institutional investors own 87.77% of the company's stock.

Insider Buying and Selling at Paycom Software

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 value of $331,870.50. Following the sale, the chief executive officer now owns 2,810,910 shares in the company, 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 document filed with the SEC, which is accessible through this hyperlink. Insiders sold 48,750 shares of company stock valued at $8,771,880 in the last 90 days. Insiders own 14.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Piper Sandler boosted their price objective on shares of Paycom Software from $160.00 to $191.00 and gave the company a "neutral" rating in a research report on Thursday, October 31st. Citigroup boosted their price target on Paycom Software from $172.00 to $196.00 and gave the company a "neutral" rating in a report on Thursday, October 31st. Mizuho raised their price objective on Paycom Software from $190.00 to $210.00 and gave the stock a "neutral" rating in a research note on Friday. Jefferies Financial Group lifted their price objective on Paycom Software from $170.00 to $175.00 and gave the company a "hold" rating in a research report on Thursday, October 31st. Finally, TD Cowen increased their target price on shares of Paycom Software from $193.00 to $248.00 and gave the stock a "hold" rating in a report on Monday, December 9th. Twelve research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $202.56.

Paycom Software Price Performance

Shares of PAYC stock traded down $5.50 during mid-day trading on Friday, hitting $234.50. The company had a trading volume of 459,919 shares, compared to its average volume of 788,223. The stock's 50 day moving average price is $205.46 and its 200-day moving average price is $173.64. Paycom Software, Inc. has a 52-week low of $139.50 and a 52-week high of $242.74. The company has a market capitalization of $13.52 billion, a P/E ratio of 28.22, a P/E/G ratio of 3.20 and a beta of 1.11.

Paycom Software Dividend Announcement

The business 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 annualized dividend and a yield of 0.64%. The ex-dividend date was Monday, November 25th. Paycom Software's payout ratio is currently 18.05%.

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.