Geode Capital Management LLC Buys 45,404 Shares of Paycom Software, Inc. (NYSE:PAYC)

Geode Capital Management LLC boosted its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 3.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,426,920 shares of the software maker’s stock after buying an additional 45,404 shares during the period. Geode Capital Management LLC’s holdings in Paycom Software were worth $237,015,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of PAYC. Armstrong Advisory Group Inc. bought a new position in Paycom Software during the third quarter valued at $26,000. Brooklyn Investment Group purchased a new position in shares of Paycom Software during the 3rd quarter worth about $28,000. Ashton Thomas Private Wealth LLC bought a new position in Paycom Software during the 2nd quarter valued at about $25,000. Pin Oak Investment Advisors Inc. raised its position in Paycom Software by 73.3% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 182 shares of the software maker’s stock worth $30,000 after purchasing an additional 77 shares during the period. Finally, MFA Wealth Advisors LLC bought a new stake in Paycom Software in the second quarter worth about $26,000. 87.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently weighed in on PAYC. 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 report on Thursday, October 31st. BMO Capital Markets lifted their target price on Paycom Software from $183.00 to $197.00 and gave the stock a “market perform” rating in a research report on Thursday, October 31st. Barclays boosted their target price on shares of Paycom Software from $172.00 to $181.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. TD Cowen raised their price target on shares of Paycom Software from $193.00 to $248.00 and gave the stock a “hold” rating in a research note on Monday, December 9th. Finally, Mizuho boosted their price objective on shares of Paycom Software from $190.00 to $210.00 and gave the company a “neutral” rating in a research report on Friday. Twelve equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $202.56.

Insider Activity

In other news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $170.27, for a total value of $332,026.50. Following the sale, the chief executive officer now directly owns 2,932,058 shares in the company, valued at approximately $499,241,515.66. This trade represents a 0.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders have sold 48,750 shares of company stock worth $8,771,880. 14.50% of the stock is currently owned by company insiders.

Paycom Software Stock Performance

Shares of PAYC opened at $234.50 on Friday. The company has a 50 day moving average price of $205.46 and a 200-day moving average price of $173.64. Paycom Software, Inc. has a fifty-two week low of $139.50 and a fifty-two week high of $242.74. The stock has a market capitalization of $13.52 billion, a PE ratio of 28.22, a PEG ratio of 3.20 and a beta of 1.11.

Paycom Software Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 9th. Shareholders 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 yield of 0.64%. Paycom Software’s dividend payout ratio (DPR) is presently 18.05%.

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.