Paycom Software, Inc. (NYSE:PAYC) Stock Position Boosted by National Bank of Canada FI

National Bank of Canada FI raised its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 186.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 70,050 shares of the software maker’s stock after buying an additional 45,600 shares during the period. National Bank of Canada FI owned approximately 0.12% of Paycom Software worth $11,668,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Sylebra Capital LLC boosted its holdings in shares of Paycom Software by 53.9% in the second quarter. Sylebra Capital LLC now owns 1,957,468 shares of the software maker’s stock valued at $279,996,000 after acquiring an additional 685,190 shares in the last quarter. Federated Hermes Inc. boosted its stake in Paycom Software by 1,011.2% during 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 in the last quarter. FMR LLC raised its stake in shares of Paycom Software by 55.0% in the 3rd quarter. FMR LLC now owns 1,007,919 shares of the software maker’s stock worth $167,889,000 after buying an additional 357,723 shares in the last quarter. International Assets Investment Management LLC lifted its holdings 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 buying an additional 278,529 shares during the period. Finally, Confluence Investment Management LLC boosted its stake in Paycom Software by 147.3% during the third quarter. Confluence Investment Management LLC now owns 377,876 shares of the software maker’s stock valued at $62,943,000 after buying an additional 225,081 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Paycom Software

In related news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $167.31, for a total transaction of $326,254.50. Following the transaction, the chief executive officer now owns 2,935,958 shares of the company’s stock, valued at approximately $491,215,132.98. This trade represents a 0.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 50,700 shares of company stock valued at $9,098,135 in the last quarter. Company insiders own 12.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PAYC. Mizuho upped their price target 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. Barclays raised their target price on shares of Paycom Software from $172.00 to $181.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Citigroup upped their price target on Paycom Software from $172.00 to $196.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. TD Cowen raised their price objective on Paycom Software from $193.00 to $248.00 and gave the stock a “hold” rating in a research note on Monday. Finally, BMO Capital Markets boosted their target price on Paycom Software from $183.00 to $197.00 and gave the stock a “market perform” rating in a research report on Thursday, October 31st. Twelve analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $200.33.

Paycom Software Price Performance

NYSE:PAYC opened at $235.66 on Wednesday. The stock has a market cap of $13.59 billion, a PE ratio of 28.36, a price-to-earnings-growth ratio of 3.15 and a beta of 1.11. Paycom Software, Inc. has a fifty-two week low of $139.50 and a fifty-two week high of $238.57. The stock’s 50-day moving average is $201.19 and its two-hundred day moving average is $172.21.

Paycom Software Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, November 25th were given a $0.375 dividend. The ex-dividend date was Monday, November 25th. This represents a $1.50 dividend on an annualized basis and a yield of 0.64%. Paycom Software’s payout ratio is 18.05%.

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.