Intellectus Partners LLC Takes Position in Paycom Software, Inc. (NYSE:PAYC)

Intellectus Partners LLC purchased a new position in Paycom Software, Inc. (NYSE:PAYC) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 2,350 shares of the software maker’s stock, valued at approximately $391,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sylebra Capital LLC purchased a new stake in Paycom Software in the first quarter worth about $253,196,000. Federated Hermes Inc. boosted its stake in shares of Paycom Software by 1,011.2% during the second quarter. Federated Hermes Inc. now owns 581,964 shares of the software maker’s stock valued at $83,244,000 after purchasing an additional 529,591 shares in the last quarter. International Assets Investment Management LLC increased its holdings in Paycom Software by 9,997.5% during the third quarter. International Assets Investment Management LLC now owns 281,315 shares of the software maker’s stock valued at $46,859,000 after buying an additional 278,529 shares during the period. Confluence Investment Management LLC raised its stake in Paycom Software by 147.3% in the third quarter. Confluence Investment Management LLC now owns 377,876 shares of the software maker’s stock worth $62,943,000 after buying an additional 225,081 shares in the last quarter. Finally, Raymond James & Associates lifted its holdings in Paycom Software by 769.2% during the second quarter. Raymond James & Associates now owns 201,366 shares of the software maker’s stock worth $28,803,000 after buying an additional 178,198 shares during the period. Institutional investors own 87.77% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PAYC. TD Cowen lifted their price target on Paycom Software from $171.00 to $188.00 and gave the company a “hold” rating in a report on Monday, September 23rd. Barclays boosted their target price on shares of Paycom Software from $172.00 to $181.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Mizuho raised their price target on shares of Paycom Software from $170.00 to $190.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Jefferies Financial Group lifted their price objective on shares of Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a research report on Thursday, October 31st. Finally, Piper Sandler increased their target price on shares of Paycom Software from $160.00 to $191.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Twelve investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $193.67.

Paycom Software Trading Down 2.1 %

NYSE PAYC opened at $219.88 on Friday. Paycom Software, Inc. has a 12-month low of $139.50 and a 12-month high of $233.69. The company has a fifty day simple moving average of $178.94 and a two-hundred day simple moving average of $165.73. The stock has a market cap of $12.68 billion, a P/E ratio of 26.46, a P/E/G ratio of 3.05 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 paid a $0.375 dividend. The ex-dividend date is Monday, November 25th. This represents a $1.50 dividend on an annualized basis and a yield of 0.68%. Paycom Software’s dividend payout ratio (DPR) is 18.05%.

Insiders Place Their Bets

In other news, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $162.27, for a total value of $316,426.50. Following the sale, the chief executive officer now owns 2,961,308 shares in the company, valued at $480,531,449.16. This represents a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders sold 60,450 shares of company stock valued at $10,672,818. 14.50% of the stock is owned by company insiders.

Paycom Software 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.