Assenagon Asset Management S.A. Takes Position in Paycom Software, Inc. (NYSE:PAYC)

Assenagon Asset Management S.A. acquired a new position in Paycom Software, Inc. (NYSE:PAYC) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,220 shares of the software maker’s stock, valued at approximately $203,000.

Other hedge funds have also bought and sold shares of the company. Ashton Thomas Private Wealth LLC bought a new position in shares of Paycom Software in the second quarter worth $25,000. MFA Wealth Advisors LLC purchased a new stake in Paycom Software during the 2nd quarter worth about $26,000. Armstrong Advisory Group Inc. bought a new position in Paycom Software in the 3rd quarter worth about $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Paycom Software during the 2nd quarter valued at about $27,000. Finally, CVA Family Office LLC increased its position in shares of Paycom Software by 234.3% during the second quarter. CVA Family Office LLC now owns 234 shares of the software maker’s stock valued at $33,000 after buying an additional 164 shares during the period. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PAYC has been the subject of a number of analyst reports. BMO Capital Markets raised 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 report on Thursday. Piper Sandler raised their price target on shares of Paycom Software from $160.00 to $191.00 and gave the company a “neutral” rating in a report on Thursday. Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a report on Thursday, August 1st. StockNews.com downgraded Paycom Software from a “buy” rating to a “hold” rating in a research report on Monday, July 15th. Finally, TD Cowen boosted their target price on Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a research 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. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $191.44.

Insider Buying and Selling

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $172.43, for a total transaction of $336,238.50. Following the transaction, the chief executive officer now directly owns 2,750,910 shares in the company, valued at $474,339,411.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Bradley Scott Smith sold 1,524 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $157.62, for a total value of $240,212.88. Following the completion of the sale, the insider now owns 14,769 shares of the company’s stock, valued at approximately $2,327,889.78. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $172.43, for a total value of $336,238.50. Following the transaction, the chief executive officer now owns 2,750,910 shares in the company, valued at approximately $474,339,411.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 69,956 shares of company stock worth $11,418,682 in the last quarter. 14.50% of the stock is owned by insiders.

Paycom Software Stock Up 0.8 %

PAYC opened at $210.65 on Monday. The business’s fifty day simple moving average is $167.57 and its 200 day simple moving average is $163.00. Paycom Software, Inc. has a 52 week low of $139.50 and a 52 week high of $222.30. The stock has a market cap of $12.10 billion, a PE ratio of 25.35, a P/E/G ratio of 2.97 and a beta of 1.13.

Paycom Software Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 25th will be issued a dividend of $0.375 per share. The ex-dividend date is Monday, November 25th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.71%. Paycom Software’s dividend 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.