Paycom Software, Inc. (NYSE:PAYC) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its holdings in shares of Paycom Software, Inc. (NYSE:PAYC) by 14.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 326,018 shares of the software maker’s stock after acquiring an additional 41,187 shares during the period. JPMorgan Chase & Co. owned approximately 0.57% of Paycom Software worth $54,305,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Private Trust Co. NA lifted its position in Paycom Software by 11.2% during the third quarter. Private Trust Co. NA now owns 526 shares of the software maker’s stock valued at $88,000 after purchasing an additional 53 shares during the period. Wrapmanager Inc. lifted its holdings in shares of Paycom Software by 2.6% in the 3rd quarter. Wrapmanager Inc. now owns 2,176 shares of the software maker’s stock valued at $362,000 after buying an additional 56 shares during the period. Andina Capital Management LLC boosted its stake in shares of Paycom Software by 4.0% in the third quarter. Andina Capital Management LLC now owns 1,651 shares of the software maker’s stock worth $275,000 after buying an additional 63 shares during the last quarter. Davis Investment Partners LLC grew its holdings in Paycom Software by 1.0% during the third quarter. Davis Investment Partners LLC now owns 6,397 shares of the software maker’s stock worth $1,067,000 after acquiring an additional 64 shares during the period. Finally, GAMMA Investing LLC raised its position in Paycom Software by 26.7% during the third quarter. GAMMA Investing LLC now owns 323 shares of the software maker’s stock valued at $54,000 after acquiring an additional 68 shares in the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

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 that occurred on Wednesday, November 13th. The shares were sold at an average price of $229.09, for a total value of $446,725.50. Following the transaction, the chief executive officer now directly owns 2,731,410 shares of the company’s stock, valued at $625,738,716.90. This trade represents a 0.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Over the last three months, insiders have sold 33,150 shares of company stock valued at $6,130,586. Corporate insiders own 14.50% of the company’s stock.

Paycom Software Stock Performance

NYSE PAYC opened at $203.86 on Friday. The business has a fifty day moving average price of $219.14 and a 200 day moving average price of $180.04. The company has a market cap of $11.75 billion, a P/E ratio of 24.53, a P/E/G ratio of 3.12 and a beta of 1.14. Paycom Software, Inc. has a one year low of $139.50 and a one year high of $242.74.

Paycom Software Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 9th. Stockholders of record on Monday, November 25th were given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date was Monday, November 25th. Paycom Software’s dividend payout ratio (DPR) is 18.05%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PAYC. Jefferies Financial Group raised their price objective on shares of Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. Citigroup lifted their price objective 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. StockNews.com raised shares of Paycom Software from a “hold” rating to a “buy” rating in a research note on Monday, December 16th. Barclays upped their price target on Paycom Software from $172.00 to $181.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Finally, TD Cowen raised their price objective on Paycom Software from $193.00 to $248.00 and gave the company a “hold” rating in a report on Monday, December 9th. Eleven investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Paycom Software currently has a consensus rating of “Hold” and a consensus target price 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.