Paycom Software, Inc. (NYSE:PAYC) Shares Bought by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lifted its position in shares of Paycom Software, Inc. (NYSE:PAYC) by 317.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,091 shares of the software maker’s stock after purchasing an additional 3,871 shares during the period. Assenagon Asset Management S.A.’s holdings in Paycom Software were worth $1,044,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Nisa Investment Advisors LLC lifted its holdings in Paycom Software by 51.4% in the 3rd 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. JPMorgan Chase & Co. lifted its stake in shares of Paycom Software by 14.5% in the third quarter. JPMorgan Chase & Co. now owns 326,018 shares of the software maker’s stock worth $54,305,000 after acquiring an additional 41,187 shares in the last quarter. Sylebra Capital LLC increased its position in shares of Paycom Software by 53.9% in the 2nd quarter. Sylebra Capital LLC now owns 1,957,468 shares of the software maker’s stock worth $279,996,000 after purchasing an additional 685,190 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Paycom Software by 9.3% in the 3rd quarter. Principal Financial Group Inc. now owns 65,809 shares of the software maker’s stock valued at $10,962,000 after purchasing an additional 5,574 shares in the last quarter. Finally, FMR LLC lifted its position in shares of Paycom Software by 55.0% during the third quarter. FMR LLC now owns 1,007,919 shares of the software maker’s stock worth $167,889,000 after purchasing an additional 357,723 shares during the last quarter. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on PAYC shares. Citigroup cut their price objective on Paycom Software from $234.00 to $221.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Jefferies Financial Group upped their price target on Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. Barclays decreased their price objective on shares of Paycom Software from $229.00 to $221.00 and set an “equal weight” rating for the company in a report on Thursday. Piper Sandler increased their target price on shares of Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, BMO Capital Markets lifted their price target on shares of Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a report on Thursday, October 31st. Twelve research analysts have rated the stock with a hold rating, Based on data from MarketBeat, Paycom Software currently has an average rating of “Hold” and a consensus target price of $204.75.

Paycom Software Trading Up 1.1 %

PAYC opened at $207.52 on Friday. Paycom Software, Inc. has a twelve month low of $139.50 and a twelve month high of $242.74. The stock has a market cap of $11.97 billion, a PE ratio of 24.97, a price-to-earnings-growth ratio of 2.85 and a beta of 1.14. The business’s 50 day moving average is $217.17 and its 200-day moving average is $186.52.

Paycom Software Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, November 25th were given a dividend of $0.375 per share. The ex-dividend date was Monday, November 25th. This represents a $1.50 dividend on an annualized basis and a yield of 0.72%. Paycom Software’s dividend payout ratio (DPR) is presently 18.05%.

Insider Activity

In other news, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $167.37, for a total value of $326,371.50. Following the completion of the transaction, the chief executive officer now directly owns 2,754,810 shares in the company, valued at $461,072,549.70. This trade represents a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last ninety days, insiders have sold 15,600 shares of company stock valued at $3,240,510. Company insiders own 14.50% of the company’s stock.

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.