Wellington Management Group LLP Acquires 9,933 Shares of Paycom Software, Inc. (NYSE:PAYC)

Wellington Management Group LLP boosted its position in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 144.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,803 shares of the software maker's stock after purchasing an additional 9,933 shares during the period. Wellington Management Group LLP's holdings in Paycom Software were worth $2,799,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Sylebra Capital LLC increased its stake in shares of Paycom Software by 53.9% in the 2nd quarter. Sylebra Capital LLC now owns 1,957,468 shares of the software maker's stock worth $279,996,000 after purchasing an additional 685,190 shares in the last quarter. FMR LLC increased its position in Paycom Software by 55.0% in the third quarter. FMR LLC now owns 1,007,919 shares of the software maker's stock worth $167,889,000 after buying an additional 357,723 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in shares of Paycom Software by 1.0% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 627,510 shares of the software maker's stock worth $104,524,000 after buying an additional 6,488 shares during the period. Federated Hermes Inc. raised its stake in shares of Paycom Software by 1,011.2% in the second quarter. Federated Hermes Inc. now owns 581,964 shares of the software maker's stock worth $83,244,000 after buying an additional 529,591 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Paycom Software by 45.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 486,462 shares of the software maker's stock valued at $81,030,000 after buying an additional 151,807 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors.

Paycom Software Stock Down 3.8 %

Paycom Software stock traded down $8.74 during midday trading on Wednesday, reaching $224.23. 238,367 shares of the stock traded hands, compared to its average volume of 785,149. Paycom Software, Inc. has a 12 month low of $139.50 and a 12 month high of $242.74. The stock's fifty day moving average is $208.28 and its 200-day moving average is $174.85. The stock has a market cap of $12.93 billion, a P/E ratio of 28.02, a PEG ratio of 3.12 and a beta of 1.11.

Paycom Software Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Monday, November 25th were given a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 0.67%. The ex-dividend date was Monday, November 25th. Paycom Software's dividend payout ratio is presently 18.05%.

Analysts Set New Price Targets

PAYC has been the topic of several analyst reports. Citigroup lifted their price target on shares of Paycom Software from $172.00 to $196.00 and gave the company a "neutral" rating in a report on Thursday, October 31st. TD Cowen lifted their target price on shares of Paycom Software from $193.00 to $248.00 and gave the company a "hold" rating in a research note on Monday, December 9th. Barclays upped their target price on shares of Paycom Software from $172.00 to $181.00 and gave the stock an "equal weight" rating in a report on Thursday, October 31st. Jefferies Financial Group boosted 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, Piper Sandler increased their target price on Paycom Software from $160.00 to $191.00 and gave the stock a "neutral" rating in a research report on Thursday, October 31st. Eleven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $202.56.

Insider Activity at Paycom Software

In other news, CEO Chad R. Richison sold 1,950 shares of the business's stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $171.30, for a total transaction of $334,035.00. Following the transaction, the chief executive officer now owns 2,805,060 shares of the company's stock, valued at approximately $480,506,778. The trade was a 0.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 44,850 shares of company stock valued at $8,107,983 over the last 90 days. 14.50% of the stock is owned by corporate insiders.

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.