63,145 Shares in Paycom Software, Inc. (NYSE:PAYC) Acquired by M&G Plc

M&G Plc purchased a new position in Paycom Software, Inc. (NYSE:PAYC) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 63,145 shares of the software maker’s stock, valued at approximately $9,030,000. M&G Plc owned approximately 0.11% of Paycom Software as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of PAYC. Vanguard Group Inc. lifted its position in shares of Paycom Software by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 5,936,910 shares of the software maker’s stock worth $1,227,278,000 after buying an additional 137,583 shares during the last quarter. Sylebra Capital LLC purchased a new stake in Paycom Software during the first quarter worth about $253,196,000. Brown Capital Management LLC boosted its position in shares of Paycom Software by 10.1% in the 4th quarter. Brown Capital Management LLC now owns 1,106,045 shares of the software maker’s stock worth $228,642,000 after buying an additional 101,744 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its position in Paycom Software by 7.9% during the first quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 977,055 shares of the software maker’s stock worth $182,426,000 after acquiring an additional 71,272 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of Paycom Software by 14.5% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 626,646 shares of the software maker’s stock worth $124,709,000 after acquiring an additional 79,299 shares during the last quarter. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Jason D. Clark sold 906 shares of the stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $143.61, for a total value of $130,110.66. Following the completion of the sale, the insider now directly owns 43,367 shares of the company’s stock, valued at approximately $6,227,934.87. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $180.82, for a total value of $352,599.00. Following the transaction, the chief executive officer now owns 3,091,958 shares in the company, valued at $559,087,845.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Jason D. Clark sold 906 shares of the firm’s stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $143.61, for a total transaction of $130,110.66. Following the transaction, the insider now directly owns 43,367 shares in the company, valued at approximately $6,227,934.87. The disclosure for this sale can be found here. In the last 90 days, insiders sold 68,161 shares of company stock valued at $10,516,114. Company insiders own 14.50% of the company’s stock.

Paycom Software Stock Performance

Shares of NYSE:PAYC opened at $156.65 on Wednesday. Paycom Software, Inc. has a one year low of $139.50 and a one year high of $299.00. The company has a market capitalization of $9.10 billion, a PE ratio of 19.08, a price-to-earnings-growth ratio of 2.20 and a beta of 1.16. The stock has a fifty day moving average of $150.73 and a 200-day moving average of $173.06.

Paycom Software Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 9th. Shareholders of record on Monday, August 26th will be issued a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend is Monday, August 26th. Paycom Software’s payout ratio is 18.27%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PAYC. Barclays boosted their price target on Paycom Software from $161.00 to $167.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. TD Cowen upped their price objective on Paycom Software from $147.00 to $171.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. StockNews.com downgraded shares of Paycom Software from a “buy” rating to a “hold” rating in a research report on Monday, July 15th. BMO Capital Markets dropped their target price on Paycom Software from $200.00 to $190.00 and set a “market perform” rating on the stock in a research report on Thursday, May 2nd. Finally, William Blair restated a “market perform” rating on shares of Paycom Software in a research note on Thursday, May 2nd. Seventeen analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Paycom Software currently has a consensus rating of “Hold” and an average price target of $178.33.

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.