HighTower Advisors LLC Buys 672 Shares of Paycom Software, Inc. (NYSE:PAYC)

HighTower Advisors LLC boosted its position in shares of Paycom Software, Inc. (NYSE:PAYC) by 4.7% during the third quarter, Holdings Channel.com reports. The fund owned 15,031 shares of the software maker’s stock after acquiring an additional 672 shares during the quarter. HighTower Advisors LLC’s holdings in Paycom Software were worth $2,474,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC raised its position in shares of Paycom Software by 51.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,666 shares of the software maker’s stock valued at $444,000 after purchasing an additional 905 shares during the period. Profund Advisors LLC purchased a new stake in Paycom Software in the 2nd quarter worth $589,000. Sylebra Capital LLC raised its holdings in Paycom Software by 53.9% during 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 period. Wealth Enhancement Advisory Services LLC lifted 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 in the last quarter. Finally, Principal Financial Group Inc. boosted its stake 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 worth $10,962,000 after acquiring an additional 5,574 shares during the period. Institutional investors own 87.77% of the company’s stock.

Insider Activity

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $170.19, for a total transaction of $331,870.50. Following the transaction, the chief executive officer now owns 2,810,910 shares in the company, valued at $478,388,772.90. The trade was a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold 48,750 shares of company stock valued at $8,771,880 in the last ninety days. Insiders own 14.50% of the company’s stock.

Paycom Software Stock Down 2.3 %

Paycom Software stock opened at $234.50 on Friday. Paycom Software, Inc. has a twelve month low of $139.50 and a twelve month high of $242.74. The company’s 50-day moving average price is $204.13 and its 200-day moving average price is $173.15. The company has a market cap of $13.52 billion, a PE ratio of 28.22, a price-to-earnings-growth ratio of 3.20 and a beta of 1.11.

Paycom Software Dividend Announcement

The business also recently disclosed 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 of this dividend was Monday, November 25th. This represents a $1.50 dividend on an annualized basis and a yield of 0.64%. Paycom Software’s dividend payout ratio (DPR) is presently 18.05%.

Analyst Upgrades and Downgrades

PAYC has been the topic of several recent analyst reports. Mizuho lifted their target price on Paycom Software from $190.00 to $210.00 and gave the company a “neutral” rating in a research note on Friday. Jefferies Financial Group boosted their target price on shares of Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. Piper Sandler raised their target price on shares of Paycom Software from $160.00 to $191.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. 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. Finally, Citigroup increased 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. Twelve analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently 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.