Associated Banc Corp Purchases 36,431 Shares of Paycom Software, Inc. (NYSE:PAYC)

Associated Banc Corp grew its holdings in shares of Paycom Software, Inc. (NYSE:PAYC) by 33.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 146,020 shares of the software maker’s stock after acquiring an additional 36,431 shares during the quarter. Associated Banc Corp owned 0.25% of Paycom Software worth $24,323,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Private Trust Co. NA raised its stake in shares of Paycom Software by 11.2% during the third quarter. Private Trust Co. NA now owns 526 shares of the software maker’s stock valued at $88,000 after acquiring an additional 53 shares during the last quarter. Dynamic Technology Lab Private Ltd increased its stake in shares of Paycom Software by 32.8% during the third quarter. Dynamic Technology Lab Private Ltd now owns 13,085 shares of the software maker’s stock valued at $2,180,000 after buying an additional 3,235 shares during the period. Daiwa Securities Group Inc. raised its holdings in shares of Paycom Software by 3.5% during the third quarter. Daiwa Securities Group Inc. now owns 18,204 shares of the software maker’s stock valued at $3,032,000 after acquiring an additional 611 shares in the last quarter. Summit Trail Advisors LLC purchased a new stake in Paycom Software in the third quarter worth $377,000. Finally, Kingsview Wealth Management LLC boosted its holdings in Paycom Software by 3.9% in the third quarter. Kingsview Wealth Management LLC now owns 2,293 shares of the software maker’s stock valued at $382,000 after acquiring an additional 86 shares in the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Paycom Software Trading Up 1.3 %

Paycom Software stock traded up $2.94 during mid-day trading on Monday, hitting $233.26. The stock had a trading volume of 24,472 shares, compared to its average volume of 800,853. Paycom Software, Inc. has a one year low of $139.50 and a one year high of $233.69. The firm has a market capitalization of $13.45 billion, a P/E ratio of 27.72, a P/E/G ratio of 3.07 and a beta of 1.14. The firm’s 50 day moving average is $185.75 and its 200 day moving average is $167.39.

Paycom Software Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 25th will be paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date is Monday, November 25th. Paycom Software’s dividend payout ratio (DPR) is 18.05%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Mizuho upped 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. Jefferies Financial Group lifted their price objective on Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. Piper Sandler raised their target price on Paycom Software from $160.00 to $191.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a research report on Thursday, August 1st. Finally, TD Cowen raised their price objective on Paycom Software from $171.00 to $188.00 and gave the company a “hold” rating in a research report on Monday, September 23rd. Twelve investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Paycom Software currently has an average rating of “Hold” and an average target price of $193.67.

Insider Buying and Selling

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $229.09, for a total value of $446,725.50. Following the completion of the transaction, the chief executive officer now directly owns 2,731,410 shares in the company, valued at $625,738,716.90. This represents a 0.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last 90 days, insiders sold 56,550 shares of company stock worth $10,044,801. 12.60% of the stock is owned by corporate 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.