Janus Henderson Group PLC Cuts Position in Paycom Software, Inc. (NYSE:PAYC)

Janus Henderson Group PLC trimmed its holdings in shares of Paycom Software, Inc. (NYSE:PAYC) by 2.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,771 shares of the software maker’s stock after selling 523 shares during the period. Janus Henderson Group PLC’s holdings in Paycom Software were worth $3,960,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Cetera Advisors LLC increased its holdings in Paycom Software by 13.9% in the 1st quarter. Cetera Advisors LLC now owns 2,771 shares of the software maker’s stock valued at $551,000 after purchasing an additional 339 shares in the last quarter. CWM LLC raised its holdings in shares of Paycom Software by 42.4% during the 2nd quarter. CWM LLC now owns 1,672 shares of the software maker’s stock valued at $239,000 after buying an additional 498 shares during the period. Czech National Bank lifted its position in Paycom Software by 8.4% during the 2nd quarter. Czech National Bank now owns 9,161 shares of the software maker’s stock worth $1,310,000 after acquiring an additional 707 shares in the last quarter. Diversified Trust Co purchased a new position in Paycom Software in the 2nd quarter worth approximately $894,000. Finally, Wealth Enhancement Advisory Services LLC grew its position in Paycom Software by 1,549.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 21,662 shares of the software maker’s stock valued at $3,098,000 after acquiring an additional 20,349 shares in the last quarter. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PAYC has been the subject of several analyst reports. 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 research note on Monday, November 4th. Citigroup upped their price objective on shares of Paycom Software from $172.00 to $196.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Piper Sandler boosted their price target on Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Barclays raised their price objective on Paycom Software from $172.00 to $181.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Finally, TD Cowen upped their target price on Paycom Software from $193.00 to $248.00 and gave the company a “hold” rating in a research report on Monday. Twelve investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $200.33.

Insiders Place Their Bets

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $162.17, for a total value of $316,231.50. Following the sale, the chief executive officer now directly owns 2,780,160 shares in the company, valued at approximately $450,858,547.20. This trade represents a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have sold 50,700 shares of company stock valued at $9,098,135 over the last quarter. Insiders own 12.60% of the company’s stock.

Paycom Software Price Performance

PAYC stock opened at $235.66 on Wednesday. The firm has a fifty day moving average price of $201.19 and a two-hundred day moving average price of $172.21. Paycom Software, Inc. has a 1-year low of $139.50 and a 1-year high of $238.57. The firm has a market cap of $13.59 billion, a price-to-earnings ratio of 28.36, a PEG ratio of 3.15 and a beta of 1.11.

Paycom Software Dividend Announcement

The firm also recently disclosed 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 0.64%. Paycom Software’s dividend payout ratio (DPR) is 18.05%.

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.