First Horizon Advisors Inc. Boosts Position in Paycom Software, Inc. (NYSE:PAYC)

First Horizon Advisors Inc. grew its position in Paycom Software, Inc. (NYSE:PAYC) by 821.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 212 shares of the software maker’s stock after buying an additional 189 shares during the quarter. First Horizon Advisors Inc.’s holdings in Paycom Software were worth $35,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in PAYC. Ashton Thomas Private Wealth LLC acquired a new position in shares of Paycom Software during the 2nd quarter worth approximately $25,000. MFA Wealth Advisors LLC acquired a new position in shares of Paycom Software in the second quarter worth $26,000. Armstrong Advisory Group Inc. purchased a new stake in shares of Paycom Software in the third quarter valued at $26,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Paycom Software during the second quarter valued at $27,000. Finally, CVA Family Office LLC increased its position in Paycom Software by 234.3% during the 2nd quarter. CVA Family Office LLC now owns 234 shares of the software maker’s stock worth $33,000 after purchasing an additional 164 shares in the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. 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. TD Cowen lifted their target price on shares of Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a research note on Monday, September 23rd. Citigroup boosted their price target on Paycom Software from $172.00 to $196.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Mizuho raised their price objective on Paycom Software from $170.00 to $190.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Finally, Piper Sandler upped their target price on Paycom Software from $160.00 to $191.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Twelve research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $193.67.

Paycom Software Price Performance

Paycom Software stock opened at $234.78 on Tuesday. The company has a market cap of $13.54 billion, a price-to-earnings ratio of 28.25, a price-to-earnings-growth ratio of 3.07 and a beta of 1.14. Paycom Software, Inc. has a 12 month low of $139.50 and a 12 month high of $236.24. The stock’s 50-day moving average is $185.75 and its 200-day moving average is $167.39.

Paycom Software Dividend Announcement

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

Insider Buying and Selling at Paycom Software

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $160.35, for a total transaction of $312,682.50. Following the transaction, the chief executive officer now owns 2,947,658 shares in the company, valued at $472,656,960.30. The trade was a 0.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold a total of 54,600 shares of company stock valued at $9,726,717 over the last ninety days. 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.