Brooklyn Investment Group Makes New Investment 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 Form 13F filing with the SEC. The institutional investor bought 169 shares of the software maker’s stock, valued at approximately $28,000.

A number of other institutional investors have also recently modified their holdings of the business. Ashton Thomas Private Wealth LLC purchased a new stake in Paycom Software in the 2nd quarter worth $25,000. MFA Wealth Advisors LLC acquired a new stake in shares of Paycom Software in the second quarter valued at about $26,000. Armstrong Advisory Group Inc. purchased a new stake in shares of Paycom Software during the third quarter worth about $26,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Paycom Software during the 2nd quarter worth about $27,000. Finally, CVA Family Office LLC lifted its stake in Paycom Software by 234.3% in the 2nd quarter. CVA Family Office LLC now owns 234 shares of the software maker’s stock valued at $33,000 after buying an additional 164 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Paycom Software Stock Performance

Paycom Software stock opened at $231.92 on Friday. The company has a market capitalization of $13.37 billion, a price-to-earnings ratio of 27.91, a price-to-earnings-growth ratio of 3.13 and a beta of 1.14. The company’s 50 day simple moving average is $192.17 and its 200-day simple moving average is $169.56. Paycom Software, Inc. has a 1 year low of $139.50 and a 1 year high of $237.33.

Paycom Software Announces Dividend

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

Wall Street Analyst Weigh In

Several research firms have commented on PAYC. BMO Capital Markets boosted their price objective on Paycom Software from $183.00 to $197.00 and gave the stock a “market perform” rating in a research note on Thursday, October 31st. Mizuho increased their price objective on Paycom Software from $170.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday, November 4th. Jefferies Financial Group raised their price objective on Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a report on Thursday, October 31st. Citigroup upped their target price on shares of Paycom Software from $172.00 to $196.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, Barclays raised their price target on shares of Paycom Software from $172.00 to $181.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. Twelve analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $193.67.

Insiders Place Their Bets

In related news, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $162.00, for a total transaction of $315,900.00. Following the completion of the transaction, the chief executive officer now directly owns 2,941,808 shares of the company’s stock, valued at $476,572,896. The trade was a 0.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders have sold 54,600 shares of company stock worth $9,726,717 over the last three months. Company insiders own 14.50% of the company’s stock.

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.