Citizens Financial Group Inc. RI Makes New $232,000 Investment in Paycom Software, Inc. (NYSE:PAYC)

Citizens Financial Group Inc. RI acquired a new stake in Paycom Software, Inc. (NYSE:PAYC) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 1,395 shares of the software maker’s stock, valued at approximately $232,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Natixis acquired a new stake in Paycom Software during the first quarter valued at approximately $96,000. Advisors Asset Management Inc. lifted its position in shares of Paycom Software by 37.0% during the 1st quarter. Advisors Asset Management Inc. now owns 300 shares of the software maker’s stock worth $60,000 after buying an additional 81 shares during the period. BOKF NA boosted its stake in Paycom Software by 453.0% in the 1st quarter. BOKF NA now owns 9,219 shares of the software maker’s stock valued at $1,828,000 after buying an additional 7,552 shares in the last quarter. Mount Yale Investment Advisors LLC grew its position in Paycom Software by 110.8% in the first quarter. Mount Yale Investment Advisors LLC now owns 4,381 shares of the software maker’s stock valued at $872,000 after acquiring an additional 2,303 shares during the period. Finally, Kodai Capital Management LP raised its stake in Paycom Software by 629.2% during the first quarter. Kodai Capital Management LP now owns 60,351 shares of the software maker’s stock worth $12,010,000 after acquiring an additional 52,075 shares in the last quarter. 87.77% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $160.35, for a total transaction of $312,682.50. Following the completion of the sale, the chief executive officer now owns 2,947,658 shares in the company, valued at $472,656,960.30. The trade was a 0.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders sold 56,550 shares of company stock valued at $10,044,801. 14.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on PAYC. Piper Sandler boosted their target price on shares of Paycom Software from $160.00 to $191.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Jefferies Financial Group boosted their price target 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. Barclays raised their price objective on shares of Paycom Software from $172.00 to $181.00 and gave the stock an “equal weight” rating in a 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 report on Monday, November 4th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a report on Thursday, August 1st. Twelve investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $193.67.

Paycom Software Stock Performance

Shares of PAYC opened at $230.32 on Friday. The business’s fifty day moving average price is $185.75 and its two-hundred day moving average price is $167.49. The firm has a market capitalization of $13.28 billion, a price-to-earnings ratio of 27.72, a PEG ratio of 3.04 and a beta of 1.14. Paycom Software, Inc. has a 52 week low of $139.50 and a 52 week high of $233.69.

Paycom Software Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 25th will be given 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 yield of 0.65%. Paycom Software’s payout ratio is 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.