Banque Cantonale Vaudoise Boosts Stake in Paycom Software, Inc. (NYSE:PAYC)

Banque Cantonale Vaudoise grew its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 7.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,909 shares of the software maker’s stock after purchasing an additional 197 shares during the period. Banque Cantonale Vaudoise’s holdings in Paycom Software were worth $484,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. 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 worth $279,996,000 after purchasing an additional 685,190 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in shares of Paycom Software by 9.4% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,069,104 shares of the software maker’s stock worth $152,925,000 after buying an additional 92,049 shares during the last quarter. Federated Hermes Inc. boosted its position in shares of Paycom Software by 1,011.2% in the 2nd quarter. Federated Hermes Inc. now owns 581,964 shares of the software maker’s stock worth $83,244,000 after buying an additional 529,591 shares in the last quarter. Bank of New York Mellon Corp grew its stake in Paycom Software by 6.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 455,271 shares of the software maker’s stock valued at $65,122,000 after acquiring an additional 26,934 shares during the last quarter. Finally, Confluence Investment Management LLC grew its stake in Paycom Software by 147.3% in the 3rd quarter. Confluence Investment Management LLC now owns 377,876 shares of the software maker’s stock valued at $62,943,000 after acquiring an additional 225,081 shares during the last quarter. 87.77% of the stock is owned by institutional investors and hedge funds.

Paycom Software Stock Performance

PAYC opened at $226.90 on Friday. Paycom Software, Inc. has a 1 year low of $139.50 and a 1 year high of $233.69. The company’s 50 day simple moving average is $183.34 and its 200 day simple moving average is $166.68. The stock has a market capitalization of $13.08 billion, a PE ratio of 27.30, a P/E/G ratio of 2.90 and a beta of 1.14.

Paycom Software Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 25th will be paid a dividend of $0.375 per share. The ex-dividend date of this dividend is Monday, November 25th. This represents a $1.50 annualized dividend and a dividend yield of 0.66%. Paycom Software’s dividend payout ratio is presently 18.05%.

Insider Transactions at Paycom Software

In related news, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $160.35, for a total transaction of $312,682.50. Following the completion of the sale, the chief executive officer now owns 2,947,658 shares of the company’s stock, valued at approximately $472,656,960.30. This represents a 0.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 56,550 shares of company stock worth $10,044,801 in the last ninety days. Insiders own 14.50% of the company’s stock.

Analyst Upgrades and Downgrades

PAYC has been the topic of several recent research reports. Barclays upped their price target on shares of Paycom Software from $172.00 to $181.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Jefferies Financial Group increased their target price on Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a report on Thursday, October 31st. 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 report on Thursday, October 31st. Piper Sandler increased their price objective on Paycom Software from $160.00 to $191.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, Mizuho boosted their target price on shares of Paycom Software from $170.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Twelve investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $193.67.

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.