Brooklyn Investment Group Acquires New Shares in Paycom Software, Inc. (NYSE:PAYC)

Brooklyn Investment Group bought a new position in shares of Paycom Software, Inc. (NYSE:PAYC) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 169 shares of the software maker’s stock, valued at approximately $28,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PAYC. Advisors Asset Management Inc. increased its holdings in shares of Paycom Software by 37.0% in the 1st quarter. Advisors Asset Management Inc. now owns 300 shares of the software maker’s stock valued at $60,000 after acquiring an additional 81 shares during the period. Tidal Investments LLC raised its holdings in Paycom Software by 23.9% in the first quarter. Tidal Investments LLC now owns 9,529 shares of the software maker’s stock worth $1,893,000 after purchasing an additional 1,841 shares in the last quarter. Atria Investments Inc purchased a new stake in shares of Paycom Software during the first quarter valued at about $2,142,000. Cetera Investment Advisers boosted its holdings in shares of Paycom Software by 490.0% in the 1st quarter. Cetera Investment Advisers now owns 18,042 shares of the software maker’s stock valued at $3,591,000 after buying an additional 14,984 shares in the last quarter. Finally, Cetera Advisors LLC grew its position in shares of Paycom Software by 13.9% in the 1st quarter. Cetera Advisors LLC now owns 2,771 shares of the software maker’s stock worth $551,000 after buying an additional 339 shares during the last quarter. 87.77% of the stock is currently owned by institutional investors.

Paycom Software Trading Down 1.3 %

Shares of NYSE:PAYC opened at $231.92 on Friday. Paycom Software, Inc. has a twelve month low of $139.50 and a twelve month high of $237.33. The company has a market cap of $13.37 billion, a PE ratio of 27.91, a price-to-earnings-growth ratio of 3.13 and a beta of 1.14. The company’s 50 day moving average is $192.17 and its 200 day moving average is $169.56.

Paycom Software Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 25th will be paid a $0.375 dividend. The ex-dividend date of this dividend is Monday, November 25th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.65%. Paycom Software’s payout ratio is currently 18.05%.

Insider Buying and Selling

In related news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $160.35, for a total transaction of $312,682.50. Following the sale, the chief executive officer now directly owns 2,947,658 shares of the company’s stock, valued at $472,656,960.30. This trade represents a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 54,600 shares of company stock valued at $9,726,717 over the last 90 days. Insiders own 14.50% of the company’s stock.

Analyst Upgrades and Downgrades

PAYC has been the subject of a number of analyst reports. BMO Capital Markets increased their target price on shares of Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a research report on Thursday, October 31st. Piper Sandler raised their price objective on Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Mizuho boosted 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. Citigroup increased their price target on Paycom Software from $172.00 to $196.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, Jefferies Financial Group boosted their price target on Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. Twelve research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $193.67.

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.