CIBC Asset Management Inc Boosts Stake in Paycom Software, Inc. (NYSE:PAYC)

CIBC Asset Management Inc boosted its holdings in shares of Paycom Software, Inc. (NYSE:PAYC) by 9.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,378 shares of the software maker’s stock after acquiring an additional 621 shares during the period. CIBC Asset Management Inc’s holdings in Paycom Software were worth $1,229,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Andina Capital Management LLC grew its holdings 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 valued at $275,000 after purchasing an additional 63 shares during the period. Davis Investment Partners LLC grew its stake in shares of Paycom Software by 1.0% in the 3rd quarter. Davis Investment Partners LLC now owns 6,397 shares of the software maker’s stock valued at $1,067,000 after buying an additional 64 shares during the period. GAMMA Investing LLC increased its holdings in shares of Paycom Software by 26.7% during the 3rd quarter. GAMMA Investing LLC now owns 323 shares of the software maker’s stock worth $54,000 after buying an additional 68 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of Paycom Software by 1.7% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,624 shares of the software maker’s stock valued at $661,000 after buying an additional 79 shares during the period. Finally, Advisors Asset Management Inc. lifted its holdings in Paycom Software by 37.0% in the first quarter. Advisors Asset Management Inc. now owns 300 shares of the software maker’s stock valued at $60,000 after acquiring an additional 81 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Insider Activity

In related news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $163.12, for a total value of $318,084.00. Following the sale, the chief executive officer now owns 3,534,499 shares of the company’s stock, valued at $576,547,476.88. This trade represents a 0.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last quarter, insiders sold 58,500 shares of company stock worth $10,361,228. 12.60% of the stock is currently owned by company insiders.

Paycom Software Stock Up 1.3 %

NYSE:PAYC opened at $219.67 on Thursday. The company has a market cap of $12.67 billion, a price-to-earnings ratio of 26.43, a price-to-earnings-growth ratio of 2.94 and a beta of 1.14. Paycom Software, Inc. has a 52 week low of $139.50 and a 52 week high of $233.69. The company has a fifty day simple moving average of $182.32 and a two-hundred day simple moving average of $166.31.

Paycom Software Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 25th will be given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend is Monday, November 25th. Paycom Software’s dividend payout ratio is currently 18.05%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PAYC. Piper Sandler lifted their target price on Paycom Software from $160.00 to $191.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Citigroup boosted 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. 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 research report on Thursday, October 31st. Mizuho upped their price objective on shares of Paycom Software from $170.00 to $190.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Finally, TD Cowen lifted their target price on shares of Paycom Software from $171.00 to $188.00 and gave the company a “hold” rating in a report on Monday, September 23rd. Twelve investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Paycom Software presently has an average rating of “Hold” and an average price target of $193.67.

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.