Paycom Software, Inc. (NYSE:PAYC) Shares Purchased by Legacy Wealth Asset Management LLC

Legacy Wealth Asset Management LLC grew its position in shares of Paycom Software, Inc. (NYSE:PAYC) by 35.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,008 shares of the software maker’s stock after purchasing an additional 785 shares during the period. Legacy Wealth Asset Management LLC’s holdings in Paycom Software were worth $617,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of PAYC. Nisa Investment Advisors LLC grew its stake in Paycom Software by 51.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,666 shares of the software maker’s stock worth $444,000 after acquiring an additional 905 shares during the period. JPMorgan Chase & Co. grew its position in shares of Paycom Software by 14.5% in the third quarter. JPMorgan Chase & Co. now owns 326,018 shares of the software maker’s stock valued at $54,305,000 after purchasing an additional 41,187 shares during the period. Profund Advisors LLC purchased a new stake in shares of Paycom Software in the second quarter valued at $589,000. Sylebra Capital LLC increased its stake in Paycom Software by 53.9% in the second quarter. Sylebra Capital LLC now owns 1,957,468 shares of the software maker’s stock valued at $279,996,000 after purchasing an additional 685,190 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in Paycom Software by 9.3% during the third quarter. Principal Financial Group Inc. now owns 65,809 shares of the software maker’s stock worth $10,962,000 after buying an additional 5,574 shares during the period. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

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. Over the last 90 days, insiders have sold 21,450 shares of company stock worth $4,212,449. 12.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on PAYC shares. Citigroup cut their price objective on shares of Paycom Software from $234.00 to $221.00 and set a “neutral” rating on the stock in a report on Thursday. Jefferies Financial Group lifted their price target on shares of Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a report on Thursday, October 31st. StockNews.com lowered Paycom Software from a “buy” rating to a “hold” rating in a research report on Wednesday. Piper Sandler boosted their price target on Paycom Software from $160.00 to $191.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Finally, TD Cowen upped their price target on Paycom Software from $193.00 to $248.00 and gave the stock a “hold” rating in a research note on Monday, December 9th. Twelve equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, Paycom Software currently has a consensus rating of “Hold” and a consensus price target of $199.75.

Paycom Software Trading Up 0.3 %

PAYC opened at $208.51 on Friday. Paycom Software, Inc. has a twelve month low of $139.50 and a twelve month high of $242.74. The firm has a market cap of $12.02 billion, a price-to-earnings ratio of 25.09, a PEG ratio of 2.78 and a beta of 1.14. The company has a fifty day simple moving average of $218.99 and a 200 day simple moving average of $184.25.

Paycom Software Announces Dividend

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

Paycom Software Company 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.