Principal Financial Group Inc. Has $10.96 Million Holdings in Paycom Software, Inc. (NYSE:PAYC)

Principal Financial Group Inc. grew its stake in Paycom Software, Inc. (NYSE:PAYC) by 9.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 65,809 shares of the software maker’s stock after buying an additional 5,574 shares during the period. Principal Financial Group Inc.’s holdings in Paycom Software were worth $10,962,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Paycom Software in the second quarter worth about $25,000. MFA Wealth Advisors LLC acquired a new stake in shares of Paycom Software in the second quarter worth about $26,000. Armstrong Advisory Group Inc. acquired a new stake in shares of Paycom Software in the third quarter worth about $26,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Paycom Software in the second quarter worth about $27,000. Finally, CVA Family Office LLC lifted its position in shares of Paycom Software by 234.3% in the second quarter. CVA Family Office LLC now owns 234 shares of the software maker’s stock worth $33,000 after buying an additional 164 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Paycom Software Stock Down 2.1 %

Shares of PAYC opened at $219.88 on Monday. Paycom Software, Inc. has a 12-month low of $139.50 and a 12-month high of $233.69. The firm has a market capitalization of $12.68 billion, a price-to-earnings ratio of 26.46, a P/E/G ratio of 2.94 and a beta of 1.14. The stock’s 50-day moving average price is $180.24 and its 200 day moving average price is $165.76.

Paycom Software Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Investors 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 yield of 0.68%. Paycom Software’s dividend payout ratio is 18.05%.

Wall Street Analyst Weigh In

PAYC has been the subject of a number of analyst reports. 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. Jefferies Financial Group lifted their price objective on Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a research note on Thursday, August 1st. Barclays lifted their price objective on Paycom Software from $172.00 to $181.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. Finally, TD Cowen lifted their price objective on Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a research note on Monday, September 23rd. Twelve research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $193.67.

Insider Activity at Paycom Software

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $162.27, for a total transaction of $316,426.50. Following the sale, the chief executive officer now directly owns 2,961,308 shares of the company’s stock, valued at approximately $480,531,449.16. The trade was a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 58,500 shares of company stock worth $10,361,228 over the last three months. Company insiders own 14.50% of the company’s stock.

About Paycom Software

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.