Grove Bank & Trust Grows Position in Paycom Software, Inc. (NYSE:PAYC)

Grove Bank & Trust boosted its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 53.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,816 shares of the software maker’s stock after acquiring an additional 2,020 shares during the period. Grove Bank & Trust’s holdings in Paycom Software were worth $1,192,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of PAYC. Dimensional Fund Advisors LP increased its stake in Paycom Software by 4.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 262,803 shares of the software maker’s stock worth $37,591,000 after acquiring an additional 10,204 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. purchased a new position in shares of Paycom Software in the second quarter valued at $234,000. XTX Topco Ltd increased its position in Paycom Software by 111.2% in the second quarter. XTX Topco Ltd now owns 4,070 shares of the software maker’s stock worth $582,000 after purchasing an additional 2,143 shares during the last quarter. ProVise Management Group LLC purchased a new stake in Paycom Software during the second quarter valued at $285,000. Finally, Benjamin F. Edwards & Company Inc. lifted its position in Paycom Software by 15.1% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,907 shares of the software maker’s stock valued at $702,000 after purchasing an additional 643 shares during the last quarter. 87.77% of the stock is currently owned by institutional investors.

Paycom Software Trading Up 0.3 %

Shares of PAYC opened at $208.51 on Friday. The firm has a market capitalization of $12.02 billion, a P/E ratio of 25.09, a P/E/G ratio of 2.78 and a beta of 1.14. Paycom Software, Inc. has a 12-month low of $139.50 and a 12-month high of $242.74. The firm has a fifty day moving average price of $218.99 and a 200-day moving average price of $184.54.

Paycom Software Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, November 25th were paid a $0.375 dividend. The ex-dividend date of this dividend was Monday, November 25th. This represents a $1.50 dividend on an annualized basis and a yield of 0.72%. Paycom Software’s dividend payout ratio is currently 18.05%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on PAYC shares. Jefferies Financial Group upped their target price on shares of Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. Piper Sandler upped their price objective 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 dropped their target price on Paycom Software from $234.00 to $221.00 and set a “neutral” rating for the company in a report on Thursday. StockNews.com lowered Paycom Software from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Mizuho lifted their price objective on shares of Paycom Software from $190.00 to $210.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. Twelve investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $199.75.

Insider Transactions at Paycom Software

In other news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $164.29, for a total transaction of $320,365.50. Following the transaction, the chief executive officer now owns 2,760,660 shares in the company, valued at approximately $453,548,831.40. This trade represents a 0.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Over the last three months, insiders have sold 21,450 shares of company stock valued at $4,212,449. 12.60% of the stock is currently owned by company 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.