Mutual of America Capital Management LLC Sells 72 Shares of Paycom Software, Inc. (NYSE:PAYC)

Mutual of America Capital Management LLC decreased its stake in Paycom Software, Inc. (NYSE:PAYC) by 1.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,992 shares of the software maker’s stock after selling 72 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Paycom Software were worth $998,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Nisa Investment Advisors LLC boosted its stake in Paycom Software by 51.4% during the third quarter. Nisa Investment Advisors LLC now owns 2,666 shares of the software maker’s stock worth $444,000 after buying an additional 905 shares during the period. Profund Advisors LLC bought a new position in Paycom Software during the 2nd quarter valued at about $589,000. Sylebra Capital LLC raised its position in Paycom Software by 53.9% in the 2nd quarter. Sylebra Capital LLC now owns 1,957,468 shares of the software maker’s stock worth $279,996,000 after purchasing an additional 685,190 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in Paycom Software by 1,549.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 21,662 shares of the software maker’s stock worth $3,098,000 after purchasing an additional 20,349 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Paycom Software by 9.3% during the third quarter. Principal Financial Group Inc. now owns 65,809 shares of the software maker’s stock valued at $10,962,000 after buying an additional 5,574 shares during the period. Institutional investors own 87.77% of the company’s stock.

Paycom Software Stock Performance

NYSE PAYC opened at $234.78 on Tuesday. The company has a market cap of $13.54 billion, a PE ratio of 27.72, a P/E/G ratio of 3.07 and a beta of 1.14. The firm’s 50 day moving average price is $185.75 and its 200-day moving average price is $167.39. Paycom Software, Inc. has a 52-week low of $139.50 and a 52-week high of $236.24.

Paycom Software Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 25th will be given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date of this dividend is Monday, November 25th. Paycom Software’s payout ratio is currently 18.05%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on PAYC shares. Mizuho raised their price target on Paycom Software from $170.00 to $190.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Citigroup lifted their target price on Paycom Software from $172.00 to $196.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Piper Sandler upped their price target on shares of Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Jefferies Financial Group raised their price target on shares of Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. Finally, Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a research note on Thursday, August 1st. Twelve equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Paycom Software currently has a consensus rating of “Hold” and an average price target of $193.67.

Insider Buying and Selling at Paycom Software

In other news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $625,738,716.90. This trade represents a 0.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 54,600 shares of company stock worth $9,726,717 over the last quarter. Insiders own 12.60% of the company’s stock.

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.