Thrivent Financial for Lutherans Grows Stock Holdings in Paycom Software, Inc. (NYSE:PAYC)

Thrivent Financial for Lutherans raised its position in Paycom Software, Inc. (NYSE:PAYC) by 71.8% during the third quarter, Holdings Channel.com reports. The fund owned 3,497 shares of the software maker’s stock after purchasing an additional 1,462 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Paycom Software were worth $583,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of PAYC. Armstrong Advisory Group Inc. bought a new position in shares of Paycom Software in the third quarter worth approximately $26,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Paycom Software in the second quarter worth approximately $25,000. MFA Wealth Advisors LLC bought a new position in Paycom Software during the second quarter valued at approximately $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Paycom Software in the second quarter worth approximately $27,000. Finally, Sentry Investment Management LLC bought a new stake in Paycom Software in the 2nd quarter worth approximately $33,000. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Paycom Software Trading Up 0.8 %

NYSE:PAYC opened at $231.74 on Thursday. Paycom Software, Inc. has a 12 month low of $139.50 and a 12 month high of $237.33. The stock has a 50 day moving average of $195.77 and a two-hundred day moving average of $170.63. The firm has a market cap of $13.36 billion, a P/E ratio of 27.89, a price-to-earnings-growth ratio of 3.09 and a beta of 1.11.

Paycom Software Dividend Announcement

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 given a $0.375 dividend. The ex-dividend date is Monday, November 25th. This represents a $1.50 annualized dividend and a yield of 0.65%. Paycom Software’s payout ratio is 18.05%.

Insider Buying and Selling

In related news, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $167.31, for a total value of $326,254.50. Following the transaction, the chief executive officer now owns 2,935,958 shares of the company’s stock, valued at $491,215,132.98. This represents a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last three months, insiders sold 52,650 shares of company stock worth $9,414,035. Company insiders own 12.60% of the company’s stock.

Analysts Set New Price Targets

PAYC has been the topic of a number of recent research reports. TD Cowen increased their target price on Paycom Software from $171.00 to $188.00 and gave the company a “hold” rating in a report on Monday, September 23rd. Citigroup raised their price objective on shares of Paycom Software from $172.00 to $196.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Mizuho upped their target price 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. Jefferies Financial Group lifted their price target 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. Finally, Barclays upped their price objective on Paycom Software from $172.00 to $181.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. Twelve analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $193.67.

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.