Northwest & Ethical Investments L.P. Decreases Stake in Paycom Software, Inc. (NYSE:PAYC)

Northwest & Ethical Investments L.P. lessened its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 3.3% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,759 shares of the software maker’s stock after selling 127 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Paycom Software were worth $626,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Sylebra Capital LLC increased its stake in shares of Paycom Software by 53.9% during the second quarter. Sylebra Capital LLC now owns 1,957,468 shares of the software maker’s stock valued at $279,996,000 after buying an additional 685,190 shares during the period. Federated Hermes Inc. lifted its holdings in Paycom Software by 1,011.2% in the second quarter. Federated Hermes Inc. now owns 581,964 shares of the software maker’s stock worth $83,244,000 after buying an additional 529,591 shares during the period. FMR LLC boosted its position in shares of Paycom Software by 55.0% during the third quarter. FMR LLC now owns 1,007,919 shares of the software maker’s stock valued at $167,889,000 after purchasing an additional 357,723 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Paycom Software by 9,997.5% during the third quarter. International Assets Investment Management LLC now owns 281,315 shares of the software maker’s stock valued at $46,859,000 after purchasing an additional 278,529 shares during the last quarter. Finally, Confluence Investment Management LLC boosted its stake in Paycom Software by 147.3% in the 3rd quarter. Confluence Investment Management LLC now owns 377,876 shares of the software maker’s stock worth $62,943,000 after purchasing an additional 225,081 shares in the last quarter. Institutional investors own 87.77% of the company’s stock.

Paycom Software Stock Down 1.3 %

PAYC stock opened at $231.92 on Friday. Paycom Software, Inc. has a twelve month low of $139.50 and a twelve month high of $237.33. The stock has a market capitalization of $13.37 billion, a price-to-earnings ratio of 27.91, a price-to-earnings-growth ratio of 3.13 and a beta of 1.14. The firm’s fifty day simple moving average is $192.17 and its two-hundred day simple moving average is $169.56.

Paycom Software Announces Dividend

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 given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date is Monday, November 25th. Paycom Software’s dividend payout ratio (DPR) is currently 18.05%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Piper Sandler increased their price target on Paycom Software from $160.00 to $191.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. 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. Jefferies Financial Group increased their price target on Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. Mizuho boosted their price objective on Paycom Software from $170.00 to $190.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Finally, 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. Twelve research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $193.67.

Insiders Place Their Bets

In other news, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $162.00, for a total value of $315,900.00. Following the transaction, the chief executive officer now directly owns 2,941,808 shares in the company, valued at approximately $476,572,896. This represents a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders sold a total of 54,600 shares of company stock valued at $9,726,717 over the last 90 days. Insiders own 14.50% of the company’s stock.

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.