Orion Portfolio Solutions LLC Raises Stock Holdings in Paycom Software, Inc. (NYSE:PAYC)

Orion Portfolio Solutions LLC lifted its holdings in Paycom Software, Inc. (NYSE:PAYC) by 52.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,051 shares of the software maker’s stock after purchasing an additional 3,802 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Paycom Software were worth $1,841,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Sylebra Capital LLC boosted its holdings in shares of Paycom Software by 53.9% in the 2nd quarter. Sylebra Capital LLC now owns 1,957,468 shares of the software maker’s stock worth $279,996,000 after purchasing an additional 685,190 shares during the period. Federated Hermes Inc. boosted its stake in Paycom Software by 1,011.2% during the second 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 during the period. FMR LLC increased its position in Paycom Software by 55.0% during the third quarter. FMR LLC now owns 1,007,919 shares of the software maker’s stock valued at $167,889,000 after acquiring an additional 357,723 shares during the last quarter. International Assets Investment Management LLC raised its stake in shares of Paycom Software by 9,997.5% in the third quarter. International Assets Investment Management LLC now owns 281,315 shares of the software maker’s stock valued at $46,859,000 after acquiring an additional 278,529 shares during the period. Finally, Confluence Investment Management LLC lifted its holdings in shares of Paycom Software by 147.3% in the 3rd quarter. Confluence Investment Management LLC now owns 377,876 shares of the software maker’s stock worth $62,943,000 after acquiring an additional 225,081 shares during the last quarter. Institutional investors own 87.77% of the company’s stock.

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 dated Wednesday, November 13th. The shares were 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 approximately $625,738,716.90. The trade was a 0.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold a total of 48,750 shares of company stock worth $8,771,880 over the last 90 days. Company insiders own 14.50% of the company’s stock.

Paycom Software Stock Performance

NYSE:PAYC opened at $240.00 on Friday. Paycom Software, Inc. has a one year low of $139.50 and a one year high of $242.74. The firm has a market cap of $13.84 billion, a P/E ratio of 28.88, a P/E/G ratio of 3.15 and a beta of 1.11. The firm has a 50-day simple moving average of $204.13 and a 200-day simple moving average of $173.15.

Paycom Software Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Monday, November 25th were paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date was Monday, November 25th. Paycom Software’s dividend payout ratio (DPR) is 18.05%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. TD Cowen upped their price target on shares of Paycom Software from $193.00 to $248.00 and gave the company a “hold” rating in a report on Monday. BMO Capital Markets increased their price target on Paycom Software from $183.00 to $197.00 and gave the stock a “market perform” rating in a report on Thursday, October 31st. Mizuho boosted their price objective on Paycom Software from $170.00 to $190.00 and gave the company a “neutral” rating in a report on Monday, November 4th. 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. Finally, Piper Sandler raised their price target on shares of Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Twelve equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, Paycom Software has an average rating of “Hold” and an average price target of $200.33.

About Paycom Software

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.