Citizens Financial Group Inc. RI Buys Shares of 1,395 Paycom Software, Inc. (NYSE:PAYC)

Citizens Financial Group Inc. RI bought a new position in shares of Paycom Software, Inc. (NYSE:PAYC) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 1,395 shares of the software maker’s stock, valued at approximately $232,000.

Several other institutional investors also recently modified their holdings of PAYC. Sylebra Capital LLC boosted 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 worth $279,996,000 after acquiring an additional 685,190 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its position in shares of Paycom Software by 9.4% during the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,069,104 shares of the software maker’s stock worth $152,925,000 after purchasing an additional 92,049 shares in the last quarter. Federated Hermes Inc. grew its holdings in shares of Paycom Software by 1,011.2% in the 2nd quarter. Federated Hermes Inc. now owns 581,964 shares of the software maker’s stock valued at $83,244,000 after buying an additional 529,591 shares during the period. Bank of New York Mellon Corp increased its position in shares of Paycom Software by 6.3% in 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 buying an additional 26,934 shares in the last quarter. Finally, Confluence Investment Management LLC raised its stake in 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 buying an additional 225,081 shares during the period. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Paycom Software Stock Up 1.5 %

Shares of PAYC stock opened at $230.32 on Friday. Paycom Software, Inc. has a 12 month low of $139.50 and a 12 month high of $233.69. The company’s fifty day simple moving average is $185.75 and its 200-day simple moving average is $167.49. The firm has a market cap of $13.28 billion, a PE ratio of 27.72, a P/E/G ratio of 3.04 and a beta of 1.14.

Paycom Software Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Shareholders of record on Monday, November 25th will be given a dividend of $0.375 per share. The ex-dividend date of this dividend is Monday, November 25th. This represents a $1.50 annualized dividend and a yield of 0.65%. Paycom Software’s dividend payout ratio (DPR) is presently 18.05%.

Insider Transactions at Paycom Software

In other news, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $160.35, for a total transaction of $312,682.50. Following the sale, the chief executive officer now owns 2,947,658 shares in the company, valued at $472,656,960.30. This represents a 0.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders sold a total of 56,550 shares of company stock worth $10,044,801 in the last three months. Insiders own 14.50% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on PAYC. BMO Capital Markets boosted their target price on Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a research note on Thursday, October 31st. Jefferies Financial Group boosted their price objective on Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. Citigroup raised their target price on shares of Paycom Software from $172.00 to $196.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. TD Cowen upped 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, Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a research report on Thursday, August 1st. Twelve equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Paycom Software presently has an average rating of “Hold” and a consensus price target 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.