Empowered Funds LLC Purchases 430 Shares of Paycom Software, Inc. (NYSE:PAYC)

Empowered Funds LLC increased its position in shares of Paycom Software, Inc. (NYSE:PAYC) by 20.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,522 shares of the software maker’s stock after purchasing an additional 430 shares during the period. Empowered Funds LLC’s holdings in Paycom Software were worth $420,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Nisa Investment Advisors LLC lifted its holdings in shares of 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 buying an additional 905 shares in the last quarter. Sylebra Capital LLC purchased a new stake in Paycom Software in the 1st quarter worth $253,196,000. Profund Advisors LLC bought a new position in shares of Paycom Software during the 2nd quarter valued at about $589,000. BOKF NA boosted its holdings in shares of Paycom Software by 453.0% during the 1st quarter. BOKF NA now owns 9,219 shares of the software maker’s stock valued at $1,828,000 after purchasing an additional 7,552 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in shares of 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 purchasing an additional 20,349 shares in the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

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 Wednesday, September 4th. The shares were sold at an average price of $160.35, for a total value of $312,682.50. Following the sale, the chief executive officer now directly owns 2,947,658 shares of the company’s stock, valued at approximately $472,656,960.30. This 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. In the last 90 days, insiders sold 56,550 shares of company stock valued at $10,044,801. 14.50% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

PAYC has been the subject of a number of research reports. Mizuho increased their target price on Paycom Software from $170.00 to $190.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. TD Cowen increased their price objective on shares of Paycom Software from $171.00 to $188.00 and gave the company a “hold” rating in a research report on Monday, September 23rd. BMO Capital Markets upped their target price on shares of Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a research report on Thursday, October 31st. Barclays increased their price target on shares of Paycom Software from $172.00 to $181.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Finally, Citigroup boosted their price objective on Paycom Software from $172.00 to $196.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Twelve analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $193.67.

Paycom Software Stock Up 1.5 %

NYSE PAYC opened at $230.32 on Monday. Paycom Software, Inc. has a 52 week low of $139.50 and a 52 week high of $233.69. The company has a 50 day moving average price of $185.75 and a 200 day moving average price of $167.42. The firm has a market cap of $13.28 billion, a PE ratio of 27.72, a price-to-earnings-growth ratio of 3.04 and a beta of 1.14.

Paycom Software Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 25th will be issued a $0.375 dividend. The ex-dividend date is Monday, November 25th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.65%. Paycom Software’s dividend payout ratio is currently 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.