Fmr LLC Purchases 357,723 Shares of Paycom Software, Inc. (NYSE:PAYC)

Fmr LLC grew its holdings in shares of Paycom Software, Inc. (NYSE:PAYC) by 55.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,007,919 shares of the software maker’s stock after buying an additional 357,723 shares during the quarter. Fmr LLC owned 1.75% of Paycom Software worth $167,889,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of PAYC. Associated Banc Corp grew its position in Paycom Software by 33.2% in the 3rd quarter. Associated Banc Corp now owns 146,020 shares of the software maker’s stock valued at $24,323,000 after acquiring an additional 36,431 shares during the last quarter. Private Trust Co. NA grew its holdings in shares of Paycom Software by 11.2% in the third quarter. Private Trust Co. NA now owns 526 shares of the software maker’s stock worth $88,000 after purchasing an additional 53 shares during the last quarter. Dynamic Technology Lab Private Ltd increased its stake in Paycom Software by 32.8% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 13,085 shares of the software maker’s stock worth $2,180,000 after buying an additional 3,235 shares during the period. Daiwa Securities Group Inc. lifted its holdings in Paycom Software by 3.5% during the 3rd quarter. Daiwa Securities Group Inc. now owns 18,204 shares of the software maker’s stock valued at $3,032,000 after buying an additional 611 shares in the last quarter. Finally, Summit Trail Advisors LLC purchased a new stake in Paycom Software in the 3rd quarter valued at about $377,000. Institutional investors own 87.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. BMO Capital Markets raised their target price on shares of Paycom Software from $183.00 to $197.00 and gave the stock a “market perform” rating in a research report on Thursday, October 31st. 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 increased their price target on Paycom Software from $172.00 to $196.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Barclays lifted their price objective on Paycom Software from $172.00 to $181.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Finally, Jefferies Financial Group increased 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. Twelve equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, Paycom Software has an average rating of “Hold” and an average target price of $193.67.

Paycom Software Stock Up 0.2 %

NYSE:PAYC opened at $232.41 on Tuesday. The stock has a market capitalization of $13.40 billion, a price-to-earnings ratio of 27.97, a PEG ratio of 3.09 and a beta of 1.14. Paycom Software, Inc. has a 52 week low of $139.50 and a 52 week high of $237.33. The firm has a 50 day moving average of $193.36 and a 200 day moving average of $169.87.

Paycom Software Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 25th will be issued a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 0.65%. The ex-dividend date is Monday, November 25th. Paycom Software’s dividend payout ratio is presently 18.05%.

Insider Transactions at Paycom Software

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $162.00, for a total value of $315,900.00. Following the completion of the transaction, the chief executive officer now owns 2,941,808 shares of the company’s stock, valued at approximately $476,572,896. This trade represents a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last 90 days, insiders have sold 54,600 shares of company stock worth $9,726,717. 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.