Paycom Software, Inc. (NYSE:PAYC) Holdings Increased by Townsquare Capital LLC

Townsquare Capital LLC lifted its stake in Paycom Software, Inc. (NYSE:PAYC) by 61.2% in the third quarter, HoldingsChannel reports. The fund owned 70,186 shares of the software maker’s stock after purchasing an additional 26,654 shares during the quarter. Townsquare Capital LLC’s holdings in Paycom Software were worth $11,691,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Sylebra Capital LLC grew its holdings in Paycom Software by 53.9% during the second quarter. Sylebra Capital LLC now owns 1,957,468 shares of the software maker’s stock worth $279,996,000 after acquiring an additional 685,190 shares during the period. Federated Hermes Inc. lifted its stake in 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 during the last quarter. FMR LLC boosted its holdings in Paycom Software by 55.0% during the third quarter. FMR LLC now owns 1,007,919 shares of the software maker’s stock worth $167,889,000 after buying an additional 357,723 shares in the last quarter. International Assets Investment Management LLC grew its position in Paycom Software by 9,997.5% in the third quarter. International Assets Investment Management LLC now owns 281,315 shares of the software maker’s stock worth $46,859,000 after buying an additional 278,529 shares during the last quarter. Finally, Confluence Investment Management LLC increased its holdings in shares of Paycom Software by 147.3% in the third quarter. Confluence Investment Management LLC now owns 377,876 shares of the software maker’s stock valued at $62,943,000 after buying an additional 225,081 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors.

Paycom Software Stock Performance

Paycom Software stock opened at $235.06 on Thursday. Paycom Software, Inc. has a twelve month low of $139.50 and a twelve month high of $237.33. The firm has a market cap of $13.55 billion, a PE ratio of 28.29, a P/E/G ratio of 3.12 and a beta of 1.14. The firm’s 50 day moving average price is $189.69 and its two-hundred day moving average price is $168.73.

Paycom Software Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 25th will be paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date is Monday, November 25th. Paycom Software’s dividend payout ratio (DPR) is presently 18.05%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on PAYC shares. Citigroup lifted their target price on Paycom Software from $172.00 to $196.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Piper Sandler lifted their price target on Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. TD Cowen upped their price objective on shares of Paycom Software from $171.00 to $188.00 and gave the company a “hold” rating in a research note on Monday, September 23rd. Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a research report on Thursday, August 1st. Finally, Mizuho upped their price target on shares of Paycom Software from $170.00 to $190.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Twelve equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $193.67.

Insider Buying and Selling

In related news, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $162.00, for a total value of $315,900.00. Following the completion of the sale, the chief executive officer now owns 2,941,808 shares of the company’s stock, valued at approximately $476,572,896. The trade was a 0.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders sold 54,600 shares of company stock worth $9,726,717. Corporate insiders own 12.60% of the company’s stock.

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.