Mizuho Securities USA LLC Has $11.04 Million Stock Holdings in Paycom Software, Inc. (NYSE:PAYC)

Mizuho Securities USA LLC boosted its position in Paycom Software, Inc. (NYSE:PAYC) by 1,685.9% during the third quarter, HoldingsChannel.com reports. The fund owned 66,293 shares of the software maker’s stock after buying an additional 62,581 shares during the quarter. Mizuho Securities USA LLC’s holdings in Paycom Software were worth $11,042,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Armstrong Advisory Group Inc. bought a new position in shares of Paycom Software in the 3rd quarter valued at $26,000. Ashton Thomas Private Wealth LLC bought a new position in Paycom Software in the second quarter valued at about $25,000. MFA Wealth Advisors LLC bought a new position in shares of Paycom Software in the second quarter worth about $26,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Paycom Software in the second quarter worth about $27,000. Finally, Sentry Investment Management LLC acquired a new position in Paycom Software during the 2nd quarter worth approximately $33,000. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Paycom Software Stock Down 2.1 %

PAYC opened at $219.88 on Friday. The stock has a market cap of $12.68 billion, a PE ratio of 26.46, a price-to-earnings-growth ratio of 2.94 and a beta of 1.14. The company has a fifty day moving average of $180.24 and a 200-day moving average 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 business also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 25th will be paid a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend is Monday, November 25th. Paycom Software’s dividend payout ratio (DPR) is currently 18.05%.

Analysts Set New Price Targets

A number of analysts have weighed in on PAYC shares. Jefferies Financial Group boosted their target price on shares of Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. Mizuho upped 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. Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a research note on Thursday, August 1st. Barclays raised their price objective 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. Finally, BMO Capital Markets boosted their target price on shares of Paycom Software from $183.00 to $197.00 and gave the stock a “market perform” rating in a report on Thursday, October 31st. Twelve equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $193.67.

Insider Activity

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $162.27, for a total transaction of $316,426.50. Following the transaction, the chief executive officer now directly owns 2,961,308 shares of the company’s stock, valued at $480,531,449.16. The trade was a 0.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold a total of 60,450 shares of company stock worth $10,672,818 over the last quarter. 14.50% of the stock is currently owned by corporate insiders.

Paycom Software 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.