Charles Schwab Investment Management Inc. Buys 151,807 Shares of Paycom Software, Inc. (NYSE:PAYC)

Charles Schwab Investment Management Inc. boosted its stake in Paycom Software, Inc. (NYSE:PAYC) by 45.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 486,462 shares of the software maker’s stock after purchasing an additional 151,807 shares during the period. Charles Schwab Investment Management Inc. owned about 0.84% of Paycom Software worth $81,030,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wrapmanager Inc. increased its stake in shares of Paycom Software by 2.6% in the third quarter. Wrapmanager Inc. now owns 2,176 shares of the software maker’s stock worth $362,000 after buying an additional 56 shares during the period. Andina Capital Management LLC raised its stake in shares of Paycom Software by 4.0% during the third quarter. Andina Capital Management LLC now owns 1,651 shares of the software maker’s stock valued at $275,000 after acquiring an additional 63 shares during the last quarter. Davis Investment Partners LLC boosted its holdings in shares of Paycom Software by 1.0% during the third quarter. Davis Investment Partners LLC now owns 6,397 shares of the software maker’s stock worth $1,067,000 after purchasing an additional 64 shares during the period. GAMMA Investing LLC grew its stake in shares of Paycom Software by 26.7% in the third quarter. GAMMA Investing LLC now owns 323 shares of the software maker’s stock worth $54,000 after purchasing an additional 68 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Paycom Software by 1.7% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,624 shares of the software maker’s stock worth $661,000 after buying an additional 79 shares during the last quarter. Institutional investors own 87.77% of the company’s stock.

Paycom Software Trading Down 0.5 %

Paycom Software stock opened at $235.06 on Thursday. Paycom Software, Inc. has a 12 month low of $139.50 and a 12 month high of $237.33. The stock has a fifty day simple moving average of $189.69 and a two-hundred day simple moving average of $168.73. The firm has a market cap of $13.55 billion, a price-to-earnings ratio of 28.29, a PEG ratio of 3.12 and a beta of 1.14.

Paycom Software Dividend Announcement

The firm also recently announced 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 0.64%. The ex-dividend date is Monday, November 25th. Paycom Software’s dividend payout ratio (DPR) is 18.05%.

Insider Buying and Selling 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 Wednesday, November 13th. The shares were sold at an average price of $229.09, for a total value of $446,725.50. Following the completion of the sale, the chief executive officer now owns 2,731,410 shares of the company’s stock, valued at approximately $625,738,716.90. The trade was a 0.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders have sold 54,600 shares of company stock worth $9,726,717. Company insiders own 12.60% of the company’s stock.

Wall Street Analysts Forecast Growth

PAYC has been the subject of several research reports. 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. TD Cowen increased their price target on shares of Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a research note on Monday, September 23rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a research report on Thursday, August 1st. Barclays increased their target price on Paycom Software from $172.00 to $181.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Finally, Piper Sandler lifted their price target on Paycom Software from $160.00 to $191.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Twelve equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, Paycom Software has a consensus rating of “Hold” and a consensus price target of $193.67.

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.