Barlow Wealth Partners Inc. increased its position in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 4.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 97,986 shares of the software maker's stock after acquiring an additional 4,034 shares during the quarter. Paycom Software accounts for about 2.6% of Barlow Wealth Partners Inc.'s holdings, making the stock its 12th largest position. Barlow Wealth Partners Inc. owned approximately 0.17% of Paycom Software worth $20,121,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in PAYC. Nisa Investment Advisors LLC lifted its position in shares of Paycom Software by 51.4% in the third quarter. Nisa Investment Advisors LLC now owns 2,666 shares of the software maker's stock worth $444,000 after purchasing an additional 905 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Paycom Software by 14.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 326,018 shares of the software maker's stock valued at $54,305,000 after buying an additional 41,187 shares during the period. Profund Advisors LLC purchased a new position in shares of Paycom Software during the 2nd quarter valued at $589,000. Sylebra Capital LLC increased its stake 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 worth $279,996,000 after acquiring an additional 685,190 shares during the last quarter. Finally, Principal Financial Group Inc. raised its holdings in shares of Paycom Software by 9.3% during the third quarter. Principal Financial Group Inc. now owns 65,809 shares of the software maker's stock worth $10,962,000 after acquiring an additional 5,574 shares in the last quarter. Hedge funds and other institutional investors own 87.77% of the company's stock.
In other 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 transaction of $446,725.50. Following the transaction, the chief executive officer now owns 2,731,410 shares in the company, valued at approximately $625,738,716.90. The trade was a 0.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold 17,550 shares of company stock valued at $3,562,202 in the last 90 days. 12.60% of the stock is currently owned by insiders.
PAYC stock opened at $209.25 on Wednesday. The stock has a market capitalization of $12.07 billion, a price-to-earnings ratio of 25.18, a price-to-earnings-growth ratio of 2.87 and a beta of 1.14. The company has a 50-day moving average of $218.60 and a two-hundred day moving average of $185.30. Paycom Software, Inc. has a 52-week low of $139.50 and a 52-week high of $242.74.
The firm also recently announced a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Monday, November 25th were paid a dividend of $0.375 per share. The ex-dividend date was Monday, November 25th. This represents a $1.50 annualized dividend and a yield of 0.72%. Paycom Software's payout ratio is 18.05%.
PAYC has been the topic of several research reports. TD Cowen upped their target price on Paycom Software from $193.00 to $248.00 and gave the stock a "hold" rating in a research report on Monday, December 9th. Jefferies Financial Group raised their price objective on shares of Paycom Software from $170.00 to $175.00 and gave the company a "hold" rating in a research report on Thursday, October 31st. StockNews.com downgraded shares of Paycom Software from a "buy" rating to a "hold" rating in a research report on Wednesday, January 15th. BMO Capital Markets lifted their price objective on shares of Paycom Software from $183.00 to $197.00 and gave the company a "market perform" rating in a research note on Thursday, October 31st. Finally, Mizuho upped their price objective on shares of Paycom Software from $190.00 to $210.00 and gave the stock a "neutral" rating in a report on Friday, December 13th. Twelve investment analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $199.75.
View Our Latest Stock Analysis on 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.
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