Concorde Asset Management LLC Purchases 86 Shares of Paycom Software, Inc. (NYSE:PAYC)

Concorde Asset Management LLC boosted its position in Paycom Software, Inc. (NYSE:PAYC) by 3.9% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 2,274 shares of the software maker’s stock after acquiring an additional 86 shares during the period. Concorde Asset Management LLC’s holdings in Paycom Software were worth $379,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its stake 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 acquiring an additional 151,807 shares during the period. Banco Santander S.A. grew its holdings in Paycom Software by 25.3% during the 3rd quarter. Banco Santander S.A. now owns 5,647 shares of the software maker’s stock valued at $941,000 after buying an additional 1,139 shares in the last quarter. Intech Investment Management LLC grew its holdings in Paycom Software by 181.1% during the 3rd quarter. Intech Investment Management LLC now owns 4,733 shares of the software maker’s stock valued at $788,000 after buying an additional 3,049 shares in the last quarter. Aurora Investment Counsel grew its holdings in Paycom Software by 12.8% during the 3rd quarter. Aurora Investment Counsel now owns 14,903 shares of the software maker’s stock valued at $2,482,000 after buying an additional 1,694 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings 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 valued at $104,524,000 after buying an additional 6,488 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors.

Paycom Software Price Performance

Shares of PAYC opened at $226.90 on Friday. The firm has a market cap of $13.08 billion, a P/E ratio of 27.30, a P/E/G ratio of 2.90 and a beta of 1.14. The stock has a 50 day simple moving average of $183.34 and a two-hundred day simple moving average of $166.68. Paycom Software, Inc. has a 1 year low of $139.50 and a 1 year high of $233.69.

Paycom Software Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 25th will be paid a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 0.66%. The ex-dividend date is Monday, November 25th. Paycom Software’s dividend payout ratio is currently 18.05%.

Insiders Place Their Bets

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $163.12, for a total value of $318,084.00. Following the completion of the sale, the chief executive officer now owns 3,534,499 shares in the company, valued at approximately $576,547,476.88. The trade was a 0.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 56,550 shares of company stock valued at $10,044,801 over the last quarter. 14.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on PAYC shares. 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 report on Thursday, October 31st. Piper Sandler lifted their target price on Paycom Software from $160.00 to $191.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. TD Cowen lifted their target price on Paycom Software from $171.00 to $188.00 and gave the company a “hold” rating in a report on Monday, September 23rd. Jefferies Financial Group lifted their target price on Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a report on Thursday, October 31st. Finally, Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a report on Thursday, August 1st. Twelve equities research 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, the company has a consensus rating of “Hold” and an average target price of $193.67.

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.