Paycom Software, Inc. (NYSE:PAYC) Shares Purchased by Sanctuary Advisors LLC

Sanctuary Advisors LLC raised its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 42.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 8,501 shares of the software maker’s stock after acquiring an additional 2,517 shares during the quarter. Sanctuary Advisors LLC’s holdings in Paycom Software were worth $1,416,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of PAYC. Nisa Investment Advisors LLC lifted its holdings 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 valued at $444,000 after purchasing an additional 905 shares in the last quarter. Profund Advisors LLC purchased a new position in shares of Paycom Software in the second quarter worth about $589,000. Sylebra Capital LLC boosted its position 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 last quarter. Principal Financial Group Inc. grew its stake in Paycom Software by 9.3% during the 3rd quarter. Principal Financial Group Inc. now owns 65,809 shares of the software maker’s stock valued at $10,962,000 after acquiring an additional 5,574 shares in the last quarter. Finally, SpiderRock Advisors LLC purchased a new stake in Paycom Software during the 3rd quarter valued at about $555,000. Institutional investors and hedge funds own 87.77% of the company’s stock.

Paycom Software Stock Up 0.1 %

PAYC opened at $207.23 on Friday. Paycom Software, Inc. has a 52 week low of $139.50 and a 52 week high of $242.74. The business has a fifty day simple moving average of $210.96 and a 200-day simple moving average of $175.74. The firm has a market cap of $11.95 billion, a P/E ratio of 24.94, a P/E/G ratio of 3.12 and a beta of 1.11.

Paycom Software Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend was Monday, November 25th. This represents a $1.50 annualized dividend and a dividend yield of 0.72%. Paycom Software’s dividend payout ratio is presently 18.05%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PAYC. TD Cowen boosted their target price on Paycom Software from $193.00 to $248.00 and gave the stock a “hold” rating in a report on Monday, December 9th. Piper Sandler boosted their price objective on Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Citigroup lifted their price target on Paycom Software from $172.00 to $196.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Barclays upped their price objective on shares of Paycom Software from $172.00 to $181.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Finally, Mizuho lifted their target price on shares of Paycom Software from $190.00 to $210.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. Eleven analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Paycom Software currently has an average rating of “Hold” and a consensus price target of $202.56.

Insider Activity

In other news, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $170.41, for a total value of $332,299.50. Following the sale, the chief executive officer now directly owns 2,801,160 shares in the company, valued at approximately $477,345,675.60. This trade represents a 0.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders sold 42,900 shares of company stock valued at $7,774,826. 14.50% of the stock is currently owned by company 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.