Brighton Jones LLC Invests $638,000 in Paycom Software, Inc. (NYSE:PAYC)

Brighton Jones LLC bought a new position in shares of Paycom Software, Inc. (NYSE:PAYC) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 3,110 shares of the software maker’s stock, valued at approximately $638,000.

A number of other institutional investors have also modified their holdings of PAYC. Armstrong Advisory Group Inc. acquired a new position in Paycom Software during the third quarter valued at approximately $26,000. Brooklyn Investment Group purchased a new position in shares of Paycom Software in the 3rd quarter valued at $28,000. Pin Oak Investment Advisors Inc. lifted its holdings in shares of Paycom Software by 73.3% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 182 shares of the software maker’s stock valued at $30,000 after acquiring an additional 77 shares in the last quarter. First Horizon Advisors Inc. boosted its position in Paycom Software by 821.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 212 shares of the software maker’s stock worth $35,000 after purchasing an additional 189 shares during the period. Finally, Blue Trust Inc. increased its holdings in Paycom Software by 277.1% in the 3rd quarter. Blue Trust Inc. now owns 264 shares of the software maker’s stock valued at $44,000 after purchasing an additional 194 shares in the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $172.43, for a total transaction of $336,238.50. Following the completion of the transaction, the chief executive officer now directly owns 2,750,910 shares of the company’s stock, valued at approximately $474,339,411.30. This 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 can be accessed through the SEC website. Insiders sold a total of 15,600 shares of company stock valued at $3,240,510 over the last 90 days. 14.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PAYC. Mizuho boosted their price objective on Paycom Software from $190.00 to $210.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. 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 report on Thursday, October 31st. Piper Sandler boosted their target price 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. Barclays lowered their price target on shares of Paycom Software from $229.00 to $221.00 and set an “equal weight” rating for the company in a report on Thursday. Finally, Citigroup cut their price objective on shares of Paycom Software from $234.00 to $221.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Twelve equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $204.75.

Paycom Software Stock Up 1.1 %

Shares of NYSE PAYC opened at $207.52 on Friday. The stock has a market capitalization of $11.97 billion, a P/E ratio of 24.97, a PEG ratio of 2.85 and a beta of 1.14. The stock’s 50 day moving average price is $217.17 and its two-hundred day moving average price is $186.85. Paycom Software, Inc. has a 52-week low of $139.50 and a 52-week high of $242.74.

Paycom Software Announces Dividend

The company 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. This represents a $1.50 annualized dividend and a yield of 0.72%. The ex-dividend date was Monday, November 25th. 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.