Daiwa Securities Group Inc. Acquires 611 Shares of Paycom Software, Inc. (NYSE:PAYC)

Daiwa Securities Group Inc. grew its holdings in shares of Paycom Software, Inc. (NYSE:PAYC) by 3.5% in the 3rd quarter, HoldingsChannel reports. The firm owned 18,204 shares of the software maker’s stock after acquiring an additional 611 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Paycom Software were worth $3,032,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Ashton Thomas Private Wealth LLC purchased a new stake in Paycom Software during the second quarter worth about $25,000. MFA Wealth Advisors LLC purchased a new position in Paycom Software in the 2nd quarter valued at approximately $26,000. Armstrong Advisory Group Inc. bought a new stake in Paycom Software during the 3rd quarter valued at $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Paycom Software during the second quarter worth $27,000. Finally, CVA Family Office LLC boosted its holdings in shares of Paycom Software by 234.3% in the second quarter. CVA Family Office LLC now owns 234 shares of the software maker’s stock worth $33,000 after acquiring an additional 164 shares during the period. 87.77% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $160.35, for a total transaction of $312,682.50. Following the transaction, the chief executive officer now directly owns 2,947,658 shares of the company’s stock, valued at approximately $472,656,960.30. This trade represents a 0.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 54,600 shares of company stock valued at $9,726,717 over the last quarter. 12.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have commented on PAYC shares. Jefferies Financial Group raised their target price on Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. BMO Capital Markets raised their price objective 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 target price 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. Piper Sandler increased their target price 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. Finally, TD Cowen boosted their price target on shares of Paycom Software from $171.00 to $188.00 and gave the company a “hold” rating in a research report on Monday, September 23rd. Twelve equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Paycom Software has a consensus rating of “Hold” and a consensus price target of $193.67.

Paycom Software Stock Down 0.5 %

NYSE PAYC opened at $235.06 on Thursday. The stock’s 50-day simple moving average is $189.69 and its two-hundred day simple moving average is $168.73. Paycom Software, Inc. has a twelve month low of $139.50 and a twelve month high of $237.33. The company has a market capitalization 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 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 25th will be given a $0.375 dividend. The ex-dividend date of this dividend is Monday, November 25th. This represents a $1.50 dividend on an annualized basis and a yield of 0.64%. Paycom Software’s payout ratio is 18.05%.

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.