Mizuho Securities USA LLC Buys 62,581 Shares of Paycom Software, Inc. (NYSE:PAYC)

by · The Markets Daily

Mizuho Securities USA LLC raised its stake in shares of Paycom Software, Inc. (NYSE:PAYC – Free Report) by 1,685.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 66,293 shares of the software maker’s stock after purchasing an additional 62,581 shares during the quarter. Mizuho Securities USA LLC owned 0.11% of Paycom Software worth $11,042,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Andina Capital Management LLC boosted its holdings in Paycom Software by 4.0% during the third quarter. Andina Capital Management LLC now owns 1,651 shares of the software maker’s stock valued at $275,000 after purchasing an additional 63 shares in the last quarter. Davis Investment Partners LLC boosted its stake in Paycom Software by 1.0% in the 3rd quarter. Davis Investment Partners LLC now owns 6,397 shares of the software maker’s stock valued at $1,067,000 after buying an additional 64 shares in the last quarter. GAMMA Investing LLC raised its stake in Paycom Software by 26.7% during the third quarter. GAMMA Investing LLC now owns 323 shares of the software maker’s stock worth $54,000 after acquiring an additional 68 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Paycom Software by 1.7% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,624 shares of the software maker’s stock valued at $661,000 after acquiring an additional 79 shares during the period. Finally, Advisors Asset Management Inc. boosted its stake in shares of Paycom Software by 37.0% in the 1st quarter. Advisors Asset Management Inc. now owns 300 shares of the software maker’s stock valued at $60,000 after purchasing an additional 81 shares in the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Paycom Software Stock Down 2.1 %

PAYC stock opened at $219.88 on Friday. The company has a market cap of $12.68 billion, a price-to-earnings ratio of 26.46, a P/E/G ratio of 2.94 and a beta of 1.14. The business has a 50 day moving average price of $180.24 and a two-hundred day moving average price of $165.92. Paycom Software, Inc. has a twelve month low of $139.50 and a twelve month high of $233.69.

Paycom Software Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Investors 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 0.68%. The ex-dividend date of this dividend is Monday, November 25th. Paycom Software’s payout ratio is presently 18.05%.

Insider Activity at Paycom Software

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction on Monday, August 19th. The stock was sold at an average price of $159.79, for a total value of $311,590.50. Following the completion of the transaction, the chief executive officer now directly owns 2,969,108 shares of the company’s stock, valued at $474,433,767.32. The trade was a 0.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders have sold 60,450 shares of company stock worth $10,672,818. Insiders own 14.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Barclays lifted 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. 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 note on Thursday, October 31st. Citigroup lifted their price objective on Paycom Software from $172.00 to $196.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Jefferies Financial Group upped 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. Finally, Mizuho lifted their price target on shares of Paycom Software from $170.00 to $190.00 and gave the stock a “neutral” rating in a research report on Monday, November 4th. Twelve equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $193.67.

Get Our Latest Stock Analysis on Paycom Software

Paycom Software Profile

(Free Report)

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.

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