Paycom Software, Inc. (NYSE:PAYC) Shares Sold by Bank of Montreal Can

Bank of Montreal Can reduced its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 26.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 172,260 shares of the software maker’s stock after selling 61,351 shares during the quarter. Bank of Montreal Can owned 0.30% of Paycom Software worth $28,905,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Sylebra Capital LLC raised 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 purchasing an additional 685,190 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its stake 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 buying an additional 92,049 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in Paycom Software by 1.0% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 627,510 shares of the software maker’s stock worth $104,524,000 after buying an additional 6,488 shares during the period. Federated Hermes Inc. lifted its holdings 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 worth $83,244,000 after buying an additional 529,591 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position 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 during the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PAYC. Piper Sandler lifted their target price on Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Jefferies Financial Group lifted their price objective on Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. Mizuho increased their target price on Paycom Software from $170.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Barclays lifted their price target on shares of Paycom Software from $172.00 to $181.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. Finally, Citigroup increased their price objective on shares of Paycom Software from $172.00 to $196.00 and gave the company a “neutral” 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 company has an average rating of “Hold” and a consensus target price of $193.67.

Paycom Software Price Performance

PAYC stock opened at $232.07 on Friday. The firm has a market cap of $13.38 billion, a price-to-earnings ratio of 27.93, a PEG ratio of 3.13 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 firm has a fifty day moving average price of $192.17 and a two-hundred day moving average price of $169.59.

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 paid a dividend of $0.375 per share. The ex-dividend date of this dividend is Monday, November 25th. This represents a $1.50 annualized dividend and a yield of 0.65%. Paycom Software’s dividend payout ratio (DPR) is 18.05%.

Insider Buying and Selling

In related news, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $162.00, for a total transaction of $315,900.00. Following the completion of the transaction, the chief executive officer now directly owns 2,941,808 shares in the company, valued at $476,572,896. This represents a 0.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 54,600 shares of company stock worth $9,726,717 over the last quarter. 14.50% of the stock is owned by company 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.