Caisse DE Depot ET Placement DU Quebec Acquires Shares of 100,268 Paycom Software, Inc. (NYSE:PAYC)

Caisse DE Depot ET Placement DU Quebec acquired a new stake in Paycom Software, Inc. (NYSE:PAYC) in the 3rd quarter, HoldingsChannel.com reports. The firm acquired 100,268 shares of the software maker’s stock, valued at approximately $16,702,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PAYC. Sylebra Capital LLC increased its stake in shares of Paycom Software by 53.9% during the 2nd quarter. Sylebra Capital LLC now owns 1,957,468 shares of the software maker’s stock worth $279,996,000 after purchasing an additional 685,190 shares during the last quarter. Federated Hermes Inc. increased its stake in shares of Paycom Software by 1,011.2% during the 2nd quarter. Federated Hermes Inc. now owns 581,964 shares of the software maker’s stock worth $83,244,000 after purchasing an additional 529,591 shares during the last quarter. FMR LLC increased its stake in shares of Paycom Software by 55.0% during the 3rd quarter. FMR LLC now owns 1,007,919 shares of the software maker’s stock worth $167,889,000 after purchasing an additional 357,723 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of Paycom Software by 9,997.5% during the 3rd quarter. International Assets Investment Management LLC now owns 281,315 shares of the software maker’s stock worth $46,859,000 after purchasing an additional 278,529 shares during the last quarter. Finally, Confluence Investment Management LLC increased its stake in shares of Paycom Software by 147.3% during the 3rd quarter. Confluence Investment Management LLC now owns 377,876 shares of the software maker’s stock worth $62,943,000 after purchasing an additional 225,081 shares during the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on PAYC shares. Mizuho raised their price objective on shares of Paycom Software from $170.00 to $190.00 and gave the stock a “neutral” rating in a report on Monday, November 4th. Citigroup raised their price target on shares of Paycom Software from $172.00 to $196.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Jefferies Financial Group raised their price target on shares of Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a report on Thursday, October 31st. TD Cowen raised their price target on shares of Paycom Software from $171.00 to $188.00 and gave the company a “hold” rating in a report on Monday, September 23rd. Finally, Barclays raised their price target on shares of Paycom Software from $172.00 to $181.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Twelve analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Paycom Software currently has an average rating of “Hold” and an average target price of $193.67.

Insider Activity

In related news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction on Monday, September 9th. The shares were sold at an average price of $162.00, for a total value of $315,900.00. Following the transaction, the chief executive officer now owns 2,941,808 shares in the company, valued at $476,572,896. This trade represents a 0.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders have sold 54,600 shares of company stock worth $9,726,717. 14.50% of the stock is currently owned by corporate insiders.

Paycom Software Stock Performance

Paycom Software stock opened at $231.92 on Monday. The firm’s fifty day moving average price is $192.17 and its 200-day moving average price is $169.50. The stock has a market cap of $13.37 billion, a P/E ratio of 27.91, a price-to-earnings-growth ratio of 3.09 and a beta of 1.14. Paycom Software, Inc. has a fifty-two week low of $139.50 and a fifty-two week high of $237.33.

Paycom Software Announces Dividend

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