Paycom Software, Inc. (NYSE:PAYC) Shares Bought by Intech Investment Management LLC

Intech Investment Management LLC lifted its position in Paycom Software, Inc. (NYSE:PAYC) by 181.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,733 shares of the software maker’s stock after buying an additional 3,049 shares during the quarter. Intech Investment Management LLC’s holdings in Paycom Software were worth $788,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of PAYC. Ashton Thomas Private Wealth LLC purchased a new position in Paycom Software in the 2nd quarter valued at approximately $25,000. MFA Wealth Advisors LLC purchased a new position in Paycom Software in the second quarter valued at $26,000. Armstrong Advisory Group Inc. acquired a new position in Paycom Software during the 3rd quarter worth $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Paycom Software during the 2nd quarter worth about $27,000. Finally, CVA Family Office LLC raised its position in Paycom Software by 234.3% in the 2nd quarter. CVA Family Office LLC now owns 234 shares of the software maker’s stock valued at $33,000 after purchasing an additional 164 shares in the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Insider Buying and Selling at Paycom Software

In other news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction on Monday, September 9th. The shares were sold at an average price of $162.00, for a total value of $315,900.00. Following the transaction, the chief executive officer now directly owns 2,941,808 shares of the company’s stock, valued at $476,572,896. The trade was a 0.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last quarter, insiders sold 54,600 shares of company stock worth $9,726,717. 14.50% of the stock is owned by insiders.

Paycom Software Stock Performance

PAYC opened at $232.07 on Friday. Paycom Software, Inc. has a one year low of $139.50 and a one year high of $237.33. The stock has a market capitalization of $13.38 billion, a P/E ratio of 27.93, a price-to-earnings-growth ratio of 3.13 and a beta of 1.14. The business’s 50-day simple moving average is $192.17 and its 200-day simple moving average is $169.59.

Paycom Software Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 25th will be paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date is Monday, November 25th. Paycom Software’s dividend payout ratio is currently 18.05%.

Analysts Set New Price Targets

PAYC has been the subject of a number of analyst reports. BMO Capital Markets boosted their price objective on Paycom Software from $183.00 to $197.00 and gave the stock a “market perform” rating in a research report on Thursday, October 31st. Jefferies Financial Group increased 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. Piper Sandler lifted their price objective on shares of Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. TD Cowen boosted their target price on shares of Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a research note on Monday, September 23rd. Finally, Citigroup raised their price target 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 equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $193.67.

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.