Meeder Asset Management Inc. Purchases 43,840 Shares of Paycom Software, Inc. (NYSE:PAYC)

Meeder Asset Management Inc. increased its position in Paycom Software, Inc. (NYSE:PAYC) by 1,042.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 48,045 shares of the software maker’s stock after purchasing an additional 43,840 shares during the period. Meeder Asset Management Inc. owned approximately 0.08% of Paycom Software worth $8,003,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Sylebra Capital LLC lifted its stake in Paycom Software by 53.9% during the 2nd quarter. Sylebra Capital LLC now owns 1,957,468 shares of the software maker’s stock valued at $279,996,000 after acquiring an additional 685,190 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its position in shares of Paycom Software by 9.4% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,069,104 shares of the software maker’s stock valued at $152,925,000 after purchasing an additional 92,049 shares during the last quarter. Federated Hermes Inc. increased its position 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 valued at $83,244,000 after purchasing an additional 529,591 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Paycom Software by 6.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 455,271 shares of the software maker’s stock valued at $65,122,000 after purchasing an additional 26,934 shares during the last quarter. Finally, Confluence Investment Management LLC increased its position 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 valued at $62,943,000 after purchasing an additional 225,081 shares during the last quarter. 87.77% of the stock is currently owned by institutional investors.

Paycom Software Trading Down 0.4 %

Paycom Software stock opened at $218.90 on Tuesday. The company has a market capitalization of $12.62 billion, a price-to-earnings ratio of 26.34, a price-to-earnings-growth ratio of 2.94 and a beta of 1.14. Paycom Software, Inc. has a 12 month low of $139.50 and a 12 month high of $233.69. The business’s fifty day simple moving average is $180.24 and its two-hundred day simple moving average is $165.62.

Paycom Software Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 25th will be issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date is Monday, November 25th. Paycom Software’s payout ratio is currently 18.05%.

Insider Activity

In related news, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $162.27, for a total transaction of $316,426.50. Following the completion of the sale, the chief executive officer now owns 2,961,308 shares in the company, valued at approximately $480,531,449.16. This 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 can be accessed through the SEC website. Insiders have sold a total of 58,500 shares of company stock valued at $10,361,228 over the last ninety days. 12.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PAYC. Mizuho raised their target price on Paycom Software from $170.00 to $190.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Citigroup boosted their target price on Paycom Software from $172.00 to $196.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. BMO Capital Markets boosted their target price on Paycom Software from $183.00 to $197.00 and gave the stock a “market perform” rating in a research report on Thursday, October 31st. Jefferies Financial Group boosted their target price on Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a research report on Thursday, October 31st. Finally, Barclays lifted their price target on 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 research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, Paycom Software has a consensus rating of “Hold” and a consensus target price of $193.67.

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.