Accurate Wealth Management LLC Grows Stock Position in Paycom Software, Inc. (NYSE:PAYC)

Accurate Wealth Management LLC grew its position in shares of Paycom Software, Inc. (NYSE:PAYC) by 38.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,793 shares of the software maker’s stock after purchasing an additional 1,330 shares during the period. Accurate Wealth Management LLC’s holdings in Paycom Software were worth $968,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Ashton Thomas Private Wealth LLC acquired a new stake in Paycom Software during the 2nd quarter valued at approximately $25,000. Armstrong Advisory Group Inc. acquired a new stake in shares of Paycom Software during the third quarter worth approximately $26,000. Brooklyn Investment Group bought a new stake in shares of Paycom Software in the third quarter worth $28,000. Pin Oak Investment Advisors Inc. raised its holdings in Paycom Software by 73.3% in the third quarter. Pin Oak Investment Advisors Inc. now owns 182 shares of the software maker’s stock valued at $30,000 after acquiring an additional 77 shares in the last quarter. Finally, First Horizon Advisors Inc. boosted its stake in Paycom Software by 821.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 212 shares of the software maker’s stock valued at $35,000 after acquiring an additional 189 shares during the last quarter. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Paycom Software Stock Up 0.9 %

Shares of NYSE PAYC opened at $205.10 on Thursday. Paycom Software, Inc. has a 12 month low of $139.50 and a 12 month high of $242.74. The company has a market cap of $11.83 billion, a price-to-earnings ratio of 24.68, a P/E/G ratio of 3.12 and a beta of 1.14. The business has a fifty day simple moving average of $219.78 and a 200-day simple moving average of $183.62.

Paycom Software Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, November 25th were issued a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 0.73%. The ex-dividend date was Monday, November 25th. Paycom Software’s payout ratio is 18.05%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PAYC. Piper Sandler upped their target price on shares of Paycom Software from $160.00 to $191.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Jefferies Financial Group increased their price objective on shares of Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a report on Thursday, October 31st. TD Cowen upped their target price on Paycom Software from $193.00 to $248.00 and gave the stock a “hold” rating in a research report on Monday, December 9th. BMO Capital Markets increased their price target 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. Finally, Mizuho boosted their price objective on Paycom Software from $190.00 to $210.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. Twelve investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, Paycom Software has a consensus rating of “Hold” and an average target price of $196.63.

Insiders Place Their Bets

In other news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $164.29, for a total value of $320,365.50. Following the completion of the sale, the chief executive officer now owns 2,760,660 shares of the company’s stock, valued at $453,548,831.40. This trade represents a 0.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders sold a total of 23,400 shares of company stock worth $4,534,725 over the last ninety days. 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.