Choreo LLC Grows Position in Paycom Software, Inc. (NYSE:PAYC)

Choreo LLC raised its position in Paycom Software, Inc. (NYSE:PAYC) by 101.2% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,937 shares of the software maker’s stock after purchasing an additional 1,477 shares during the period. Choreo LLC’s holdings in Paycom Software were worth $600,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in PAYC. GAMMA Investing LLC boosted its holdings in shares of Paycom Software by 26.7% in the 3rd quarter. GAMMA Investing LLC now owns 323 shares of the software maker’s stock valued at $54,000 after purchasing an additional 68 shares during the last quarter. CWM LLC raised its holdings in Paycom Software by 20.1% in the third quarter. CWM LLC now owns 2,008 shares of the software maker’s stock valued at $334,000 after buying an additional 336 shares during the period. Livforsakringsbolaget Skandia Omsesidigt lifted its position in Paycom Software by 200.0% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 300 shares of the software maker’s stock valued at $50,000 after buying an additional 200 shares in the last quarter. Valeo Financial Advisors LLC purchased a new stake in Paycom Software during the third quarter worth approximately $337,000. Finally, Exchange Traded Concepts LLC purchased a new stake in Paycom Software during the third quarter worth approximately $265,000. Institutional investors and hedge funds own 87.77% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Piper Sandler boosted their price objective on shares of Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. StockNews.com upgraded shares of Paycom Software from a “hold” rating to a “buy” rating in a research note on Friday, January 31st. TD Cowen boosted their price objective on shares of Paycom Software from $193.00 to $248.00 and gave the stock a “hold” rating in a research note on Monday, December 9th. Jefferies Financial Group boosted their price objective on shares of Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. Finally, Barclays decreased their price objective on shares of Paycom Software from $229.00 to $221.00 and set an “equal weight” rating for the company in a research note on Thursday, January 23rd. Ten research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $204.75.

Paycom Software Trading Up 2.5 %

Shares of PAYC stock opened at $204.85 on Tuesday. The company has a market capitalization of $11.81 billion, a PE ratio of 24.65, a price-to-earnings-growth ratio of 2.81 and a beta of 1.15. The firm has a fifty day simple moving average of $212.80 and a 200-day simple moving average of $190.69. Paycom Software, Inc. has a twelve month low of $139.50 and a twelve month high of $242.74.

Paycom Software Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 10th will be issued a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 0.73%. Paycom Software’s dividend payout ratio is presently 18.05%.

Insider Activity at Paycom Software

In related news, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction 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 sale, the chief executive officer now directly owns 2,731,410 shares of the company’s stock, valued at $625,738,716.90. This represents a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 14.50% of the stock is currently owned by corporate insiders.

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.