CWA Asset Management Group LLC Acquires New Stake in Paycom Software, Inc. (NYSE:PAYC)

CWA Asset Management Group LLC bought a new stake in shares of Paycom Software, Inc. (NYSE:PAYC) in the third quarter, Holdings Channel reports. The firm bought 1,315 shares of the software maker’s stock, valued at approximately $219,000.

Other institutional investors also recently bought and sold shares of the company. Forsta AP Fonden purchased a new stake in Paycom Software during the 1st quarter worth approximately $2,408,000. Headlands Technologies LLC raised its stake in shares of Paycom Software by 107.8% in the first quarter. Headlands Technologies LLC now owns 663 shares of the software maker’s stock valued at $132,000 after acquiring an additional 344 shares in the last quarter. QRG Capital Management Inc. boosted its holdings in Paycom Software by 13.3% in the first quarter. QRG Capital Management Inc. now owns 2,225 shares of the software maker’s stock valued at $443,000 after purchasing an additional 261 shares during the period. Russell Investments Group Ltd. grew its stake in Paycom Software by 66.1% during the 1st quarter. Russell Investments Group Ltd. now owns 53,051 shares of the software maker’s stock worth $10,552,000 after purchasing an additional 21,108 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System raised its position in Paycom Software by 5.0% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 61,054 shares of the software maker’s stock valued at $12,150,000 after purchasing an additional 2,885 shares in the last quarter. 87.77% of the stock is owned by institutional investors and hedge funds.

Paycom Software Trading Up 0.5 %

Shares of NYSE PAYC opened at $228.89 on Wednesday. The stock has a market cap of $13.20 billion, a P/E ratio of 27.54, a P/E/G ratio of 3.06 and a beta of 1.14. Paycom Software, Inc. has a twelve month low of $139.50 and a twelve month high of $233.69. The stock has a 50 day moving average of $174.86 and a two-hundred day moving average of $164.60.

Paycom Software Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on PAYC shares. Citigroup upped their target price on shares of Paycom Software from $172.00 to $196.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a report on Thursday, August 1st. Jefferies Financial Group lifted their price objective on shares of Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a research 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 report on Monday, November 4th. Finally, TD Cowen lifted their price target on Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a report on Monday, September 23rd. Twelve equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, Paycom Software currently has an average rating of “Hold” and a consensus target price of $193.67.

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 dated Monday, August 19th. The stock was sold at an average price of $159.79, for a total transaction of $311,590.50. Following the transaction, the chief executive officer now owns 2,969,108 shares of the company’s stock, valued at $474,433,767.32. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Over the last three months, insiders have sold 60,450 shares of company stock worth $10,535,480. 14.50% of the stock is owned by company insiders.

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.