Paycom Software, Inc. (NYSE:PAYC) Shares Acquired by Townsquare Capital LLC

Townsquare Capital LLC boosted its position in Paycom Software, Inc. (NYSE:PAYC) by 61.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,186 shares of the software maker’s stock after buying an additional 26,654 shares during the quarter. Townsquare Capital LLC owned 0.12% of Paycom Software worth $11,691,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. grew its stake in Paycom Software by 37.0% during the 1st quarter. Advisors Asset Management Inc. now owns 300 shares of the software maker’s stock valued at $60,000 after purchasing an additional 81 shares in the last quarter. California State Teachers Retirement System boosted its stake in Paycom Software by 2.7% during the 1st quarter. California State Teachers Retirement System now owns 94,275 shares of the software maker’s stock valued at $18,762,000 after acquiring an additional 2,493 shares during the last quarter. Tidal Investments LLC grew its holdings in Paycom Software by 23.9% during the 1st quarter. Tidal Investments LLC now owns 9,529 shares of the software maker’s stock worth $1,893,000 after acquiring an additional 1,841 shares in the last quarter. iA Global Asset Management Inc. increased its position in shares of Paycom Software by 401.2% in the 1st quarter. iA Global Asset Management Inc. now owns 7,092 shares of the software maker’s stock worth $1,411,000 after purchasing an additional 5,677 shares during the last quarter. Finally, Wahed Invest LLC increased its position in shares of Paycom Software by 14.5% in the 1st quarter. Wahed Invest LLC now owns 1,004 shares of the software maker’s stock worth $200,000 after purchasing an additional 127 shares during the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

Paycom Software Price Performance

Shares of NYSE PAYC opened at $235.06 on Thursday. The firm 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. Paycom Software, Inc. has a 1-year low of $139.50 and a 1-year high of $237.33. The business’s fifty day moving average price is $189.69 and its two-hundred day moving average price is $168.73.

Paycom Software Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 25th will be issued a $0.375 dividend. The ex-dividend date 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 at Paycom Software

In related news, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $162.00, for a total value of $315,900.00. Following the completion of the transaction, the chief executive officer now directly owns 2,941,808 shares of the company’s stock, valued at $476,572,896. This represents a 0.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold a total of 54,600 shares of company stock worth $9,726,717 in the last ninety days. 12.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PAYC. BMO Capital Markets increased their price target on shares of Paycom Software from $183.00 to $197.00 and gave the stock a “market perform” rating in a research report on Thursday, October 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a report on Thursday, August 1st. 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. Piper Sandler raised 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. Finally, Mizuho lifted their price objective on shares of Paycom Software from $170.00 to $190.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Twelve 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 has an average rating of “Hold” and a consensus target price of $193.67.

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.