Summit Trail Advisors LLC Purchases New Holdings in Paycom Software, Inc. (NYSE:PAYC)

Summit Trail Advisors LLC purchased a new position in shares of Paycom Software, Inc. (NYSE:PAYC) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 2,263 shares of the software maker’s stock, valued at approximately $377,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sylebra Capital LLC boosted its holdings 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 worth $279,996,000 after acquiring an additional 685,190 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its holdings in Paycom Software by 9.4% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,069,104 shares of the software maker’s stock worth $152,925,000 after purchasing an additional 92,049 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in Paycom Software by 1.0% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 627,510 shares of the software maker’s stock valued at $104,524,000 after purchasing an additional 6,488 shares during the period. Federated Hermes Inc. boosted its stake in Paycom Software by 1,011.2% in the 2nd quarter. Federated Hermes Inc. now owns 581,964 shares of the software maker’s stock valued at $83,244,000 after purchasing an additional 529,591 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Paycom Software by 45.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 486,462 shares of the software maker’s stock valued at $81,030,000 after buying an additional 151,807 shares in the last quarter. Institutional investors own 87.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PAYC. Barclays lifted their target price on Paycom Software from $172.00 to $181.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Mizuho boosted their price objective on shares of Paycom Software from $170.00 to $190.00 and gave the company a “neutral” rating in a report on Monday, November 4th. TD Cowen increased their target price on shares of Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a research report on Monday, September 23rd. BMO Capital Markets lifted their price target on shares of Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a research report on Thursday, October 31st. Finally, 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 report on Thursday, October 31st. Twelve analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $193.67.

Paycom Software Price Performance

Shares of PAYC opened at $236.20 on Wednesday. The firm has a 50 day simple moving average of $188.41 and a two-hundred day simple moving average of $168.26. Paycom Software, Inc. has a one year low of $139.50 and a one year high of $236.75. The company has a market cap of $13.62 billion, a P/E ratio of 28.42, a P/E/G ratio of 3.07 and a beta of 1.14.

Paycom Software Announces Dividend

The firm 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 dividend of $0.375 per share. The ex-dividend date is Monday, November 25th. This represents a $1.50 annualized dividend and a dividend yield of 0.64%. Paycom Software’s dividend payout ratio is currently 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 shares were 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 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 document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold 54,600 shares of company stock valued at $9,726,717 over the last ninety days. 14.50% 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.