Paycom Software, Inc. (NYSE:PAYC) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. increased its holdings in Paycom Software, Inc. (NYSE:PAYC) by 9.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 65,809 shares of the software maker’s stock after purchasing an additional 5,574 shares during the quarter. Principal Financial Group Inc. owned 0.11% of Paycom Software worth $10,962,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of PAYC. Ashton Thomas Private Wealth LLC purchased a new position in shares of Paycom Software in the second quarter worth about $25,000. Armstrong Advisory Group Inc. acquired a new stake in shares of Paycom Software in the third quarter valued at approximately $26,000. Brooklyn Investment Group purchased a new position in Paycom Software during the third quarter worth approximately $28,000. Pin Oak Investment Advisors Inc. boosted its stake in Paycom Software by 73.3% during the third quarter. Pin Oak Investment Advisors Inc. now owns 182 shares of the software maker’s stock worth $30,000 after buying an additional 77 shares during the last quarter. Finally, Sentry Investment Management LLC purchased a new stake in Paycom Software in the 2nd quarter valued at $33,000. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Paycom Software Stock Down 1.1 %

PAYC opened at $206.72 on Monday. Paycom Software, Inc. has a 52 week low of $139.50 and a 52 week high of $242.74. The business’s 50 day moving average is $215.32 and its two-hundred day moving average is $178.40. The firm has a market cap of $11.92 billion, a price-to-earnings ratio of 24.88, a price-to-earnings-growth ratio of 3.12 and a beta of 1.11.

Paycom Software Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, November 25th were paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 0.73%. The ex-dividend date was Monday, November 25th. Paycom Software’s dividend payout ratio is presently 18.05%.

Insider Buying and Selling at Paycom Software

In related news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $162.17, for a total value of $316,231.50. Following the completion of the sale, the chief executive officer now owns 2,780,160 shares in the company, valued at $450,858,547.20. This trade represents a 0.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last ninety days, insiders have sold 35,100 shares of company stock worth $6,455,495. 14.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on PAYC shares. TD Cowen lifted their target price on shares of Paycom Software from $193.00 to $248.00 and gave the stock a “hold” rating in a research note on Monday, December 9th. Piper Sandler raised their target price on Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. BMO Capital Markets increased their price target on Paycom Software from $183.00 to $197.00 and gave the stock a “market perform” rating in a report on Thursday, October 31st. Barclays upped their target price on shares of Paycom Software from $172.00 to $181.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Finally, Mizuho lifted their price target on shares of Paycom Software from $190.00 to $210.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Eleven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Paycom Software currently has a consensus rating of “Hold” and a consensus price target of $202.56.

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.