Charles Schwab Investment Management Inc. Acquires 151,807 Shares of Paycom Software, Inc. (NYSE:PAYC)

Charles Schwab Investment Management Inc. boosted its holdings in shares of Paycom Software, Inc. (NYSE:PAYC) by 45.4% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 486,462 shares of the software maker’s stock after buying an additional 151,807 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Paycom Software were worth $81,030,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the business. Wrapmanager Inc. boosted its stake in shares of Paycom Software by 2.6% during the 3rd quarter. Wrapmanager Inc. now owns 2,176 shares of the software maker’s stock worth $362,000 after acquiring an additional 56 shares during the last quarter. Andina Capital Management LLC raised its holdings in Paycom Software by 4.0% in the 3rd quarter. Andina Capital Management LLC now owns 1,651 shares of the software maker’s stock worth $275,000 after purchasing an additional 63 shares during the period. Davis Investment Partners LLC raised its holdings in Paycom Software by 1.0% in the 3rd quarter. Davis Investment Partners LLC now owns 6,397 shares of the software maker’s stock worth $1,067,000 after purchasing an additional 64 shares during the period. GAMMA Investing LLC lifted its position in Paycom Software by 26.7% during the third quarter. GAMMA Investing LLC now owns 323 shares of the software maker’s stock valued at $54,000 after purchasing an additional 68 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Paycom Software by 1.7% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,624 shares of the software maker’s stock valued at $661,000 after purchasing an additional 79 shares during the period. 87.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on PAYC. Citigroup upped their price target on shares of Paycom Software from $172.00 to $196.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Barclays boosted their price objective on Paycom Software from $172.00 to $181.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. BMO Capital Markets lifted their target price on Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a research note on Thursday, October 31st. Jefferies Financial Group boosted their price target on Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. Finally, Mizuho increased their price objective on shares of Paycom Software from $170.00 to $190.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Twelve investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $193.67.

Paycom Software Stock Performance

Shares of PAYC opened at $235.06 on Thursday. The stock has a market capitalization 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 company’s fifty day moving average is $189.69 and its 200 day moving average is $168.73. Paycom Software, Inc. has a fifty-two week low of $139.50 and a fifty-two week high of $237.33.

Paycom Software Dividend Announcement

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

Insider Activity

In related news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $160.35, for a total value of $312,682.50. Following the completion of the transaction, the chief executive officer now owns 2,947,658 shares in the company, valued at approximately $472,656,960.30. This trade 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 hyperlink. In the last three months, insiders have sold 54,600 shares of company stock worth $9,726,717. 12.60% of the stock is currently owned by corporate insiders.

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.