Wellington Management Group LLP Purchases 9,933 Shares of Paycom Software, Inc. (NYSE:PAYC)

Wellington Management Group LLP raised its holdings in shares of Paycom Software, Inc. (NYSE:PAYC) by 144.6% in the third quarter, HoldingsChannel.com reports. The firm owned 16,803 shares of the software maker’s stock after buying an additional 9,933 shares during the period. Wellington Management Group LLP’s holdings in Paycom Software were worth $2,799,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of PAYC. Stifel Financial Corp raised its holdings in shares of Paycom Software by 18.5% in the 3rd quarter. Stifel Financial Corp now owns 41,071 shares of the software maker’s stock worth $6,841,000 after acquiring an additional 6,421 shares during the last quarter. QSV Equity Investors LLC purchased a new stake in shares of Paycom Software in the third quarter worth approximately $317,000. Quantinno Capital Management LP raised its stake in shares of Paycom Software by 234.0% in the third quarter. Quantinno Capital Management LP now owns 19,120 shares of the software maker’s stock worth $3,185,000 after purchasing an additional 13,396 shares during the last quarter. Integrated Wealth Concepts LLC bought a new position in shares of Paycom Software in the third quarter valued at approximately $206,000. Finally, Investment Management Corp of Ontario purchased a new position in shares of Paycom Software during the third quarter valued at approximately $275,000. Institutional investors and hedge funds own 87.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on PAYC shares. Mizuho raised their price objective on Paycom Software from $190.00 to $210.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Piper Sandler increased their target price on shares of Paycom Software from $160.00 to $191.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. TD Cowen boosted their price target on shares of Paycom Software from $193.00 to $248.00 and gave the stock a “hold” rating in a report on Monday, December 9th. Jefferies Financial Group increased their price objective on shares of Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a research note on Thursday, October 31st. Finally, Citigroup boosted their target price on Paycom Software from $172.00 to $196.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Eleven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Paycom Software has an average rating of “Hold” and a consensus target price of $202.56.

Insider Buying and Selling at Paycom Software

In other news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $170.85, for a total value of $333,157.50. Following the completion of the transaction, the chief executive officer now owns 2,807,010 shares in the company, valued at $479,577,658.50. This trade represents a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 44,850 shares of company stock worth $8,107,983 over the last ninety days. 14.50% of the stock is currently owned by company insiders.

Paycom Software Stock Up 0.3 %

Shares of PAYC stock opened at $232.85 on Wednesday. The firm has a market cap of $13.43 billion, a P/E ratio of 27.93, a PEG ratio of 3.12 and a beta of 1.11. The company has a 50 day moving average of $206.83 and a 200-day moving average of $174.23. Paycom Software, Inc. has a 12-month low of $139.50 and a 12-month high of $242.74.

Paycom Software Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 9th. Shareholders of record on Monday, November 25th were given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date of this dividend was Monday, November 25th. Paycom Software’s dividend payout ratio is currently 18.05%.

Paycom Software 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.