KBC Group NV Acquires 12,877 Shares of Paycom Software, Inc. (NYSE:PAYC)

KBC Group NV lifted its holdings in Paycom Software, Inc. (NYSE:PAYC) by 219.9% in the third quarter, HoldingsChannel reports. The fund owned 18,733 shares of the software maker’s stock after buying an additional 12,877 shares during the period. KBC Group NV’s holdings in Paycom Software were worth $3,120,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in PAYC. Kingsview Wealth Management LLC boosted its position in Paycom Software by 51.5% during the first quarter. Kingsview Wealth Management LLC now owns 2,176 shares of the software maker’s stock valued at $433,000 after buying an additional 740 shares during the period. Orion Portfolio Solutions LLC grew its position in Paycom Software by 39.4% during the 1st quarter. Orion Portfolio Solutions LLC now owns 10,797 shares of the software maker’s stock worth $2,149,000 after acquiring an additional 3,049 shares during the last quarter. Intech Investment Management LLC increased its stake in Paycom Software by 54.6% in the 1st quarter. Intech Investment Management LLC now owns 3,526 shares of the software maker’s stock worth $702,000 after purchasing an additional 1,245 shares during the period. Edgestream Partners L.P. lifted its position in Paycom Software by 31.4% in the first quarter. Edgestream Partners L.P. now owns 4,658 shares of the software maker’s stock valued at $927,000 after purchasing an additional 1,114 shares during the last quarter. Finally, Covestor Ltd lifted its position in Paycom Software by 56.7% in the first quarter. Covestor Ltd now owns 920 shares of the software maker’s stock valued at $183,000 after purchasing an additional 333 shares during the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Wall Street Analyst Weigh In

PAYC has been the topic of several analyst reports. Jefferies Financial Group lifted their target price on shares of Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. Barclays upped their price objective 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. Mizuho raised their target price on Paycom Software from $170.00 to $190.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a research report on Thursday, August 1st. Finally, BMO Capital Markets lifted their price objective 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 investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Paycom Software currently has a consensus rating of “Hold” and an average price target of $193.67.

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 on Tuesday, August 27th. The stock was sold at an average price of $163.12, for a total value of $318,084.00. Following the sale, the chief executive officer now directly owns 3,534,499 shares of the company’s stock, valued at approximately $576,547,476.88. The trade was a 0.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last quarter, insiders have sold 58,500 shares of company stock worth $10,361,228. 14.50% of the stock is currently owned by company insiders.

Paycom Software Trading Down 2.1 %

Shares of Paycom Software stock opened at $219.88 on Monday. Paycom Software, Inc. has a 12 month low of $139.50 and a 12 month high of $233.69. The firm has a market capitalization of $12.68 billion, a P/E ratio of 26.46, a P/E/G ratio of 2.94 and a beta of 1.14. The business has a fifty day simple moving average of $180.24 and a two-hundred day simple moving average of $165.76.

Paycom Software Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 25th will be paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 0.68%. The ex-dividend date is Monday, November 25th. Paycom Software’s payout ratio is currently 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.