Thrivent Financial for Lutherans Buys 1,462 Shares of Paycom Software, Inc. (NYSE:PAYC)

Thrivent Financial for Lutherans boosted its holdings in shares of Paycom Software, Inc. (NYSE:PAYC) by 71.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,497 shares of the software maker’s stock after acquiring an additional 1,462 shares during the period. Thrivent Financial for Lutherans’ holdings in Paycom Software were worth $583,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC increased its position 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 valued at $444,000 after acquiring an additional 905 shares during the last quarter. Profund Advisors LLC acquired a new stake in shares of Paycom Software in the second quarter valued at about $589,000. Sylebra Capital LLC increased its position in shares of Paycom Software by 53.9% in the second quarter. Sylebra Capital LLC now owns 1,957,468 shares of the software maker’s stock valued at $279,996,000 after acquiring an additional 685,190 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Paycom Software by 1,549.8% in 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 acquiring an additional 20,349 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Paycom Software by 9.3% in the third quarter. Principal Financial Group Inc. now owns 65,809 shares of the software maker’s stock valued at $10,962,000 after acquiring an additional 5,574 shares during the last quarter. 87.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Insider Transactions at Paycom Software

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $167.31, for a total value of $326,254.50. Following the completion of the transaction, the chief executive officer now directly owns 2,935,958 shares of the company’s stock, valued at $491,215,132.98. This trade represents a 0.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 52,650 shares of company stock worth $9,414,035 in the last quarter. Insiders own 12.60% of the company’s stock.

Paycom Software Stock Performance

NYSE:PAYC opened at $231.74 on Thursday. The firm has a market cap of $13.36 billion, a price-to-earnings ratio of 27.89, a price-to-earnings-growth ratio of 3.09 and a beta of 1.11. Paycom Software, Inc. has a 52 week low of $139.50 and a 52 week high of $237.33. The firm has a 50-day moving average price of $195.77 and a two-hundred day moving average price of $170.63.

Paycom Software Dividend Announcement

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

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.