Everence Capital Management Inc. Invests $314,000 in Paycom Software, Inc. (NYSE:PAYC)

Everence Capital Management Inc. purchased a new position in shares of Paycom Software, Inc. (NYSE:PAYC) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 1,530 shares of the software maker’s stock, valued at approximately $314,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PAYC. Armstrong Advisory Group Inc. purchased a new position in shares of Paycom Software during the third quarter valued at approximately $26,000. Brooklyn Investment Group bought a new position in Paycom Software during the 3rd quarter valued at $28,000. Ashton Thomas Private Wealth LLC purchased a new position in Paycom Software during the 2nd quarter worth $25,000. Pin Oak Investment Advisors Inc. grew its stake in shares of Paycom Software by 73.3% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 182 shares of the software maker’s stock worth $30,000 after acquiring an additional 77 shares in the last quarter. Finally, First Horizon Advisors Inc. raised its holdings in shares of Paycom Software by 821.7% in the third quarter. First Horizon Advisors Inc. now owns 212 shares of the software maker’s stock valued at $35,000 after purchasing an additional 189 shares during the last quarter. Institutional investors own 87.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PAYC. Piper Sandler upped their price objective on shares of Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Mizuho upped their target price on Paycom Software from $190.00 to $210.00 and gave the company a “neutral” rating in a report on Friday, December 13th. BMO Capital Markets lifted their price target on Paycom Software from $183.00 to $197.00 and gave the stock a “market perform” rating in a report on Thursday, October 31st. TD Cowen boosted their price objective on Paycom Software from $193.00 to $248.00 and gave the stock a “hold” rating in a research report on Monday, December 9th. Finally, Barclays raised their target price on Paycom Software from $172.00 to $181.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Eleven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $202.56.

Insider Transactions at Paycom Software

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $163.63, for a total transaction of $319,078.50. Following the sale, the chief executive officer now owns 2,776,260 shares in the company, valued at $454,279,423.80. This trade represents a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last 90 days, insiders sold 31,200 shares of company stock valued at $5,808,231. 14.50% of the stock is owned by corporate insiders.

Paycom Software Stock Performance

Shares of PAYC stock opened at $207.16 on Tuesday. The company has a market capitalization of $11.95 billion, a PE ratio of 24.93, a price-to-earnings-growth ratio of 3.12 and a beta of 1.14. Paycom Software, Inc. has a 52-week low of $139.50 and a 52-week high of $242.74. The business’s fifty day moving average is $219.14 and its 200 day moving average is $180.59.

Paycom Software Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 9th. Stockholders of record on Monday, November 25th were given a dividend of $0.375 per share. The ex-dividend date was Monday, November 25th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.72%. Paycom Software’s dividend payout ratio (DPR) is presently 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.