Pin Oak Investment Advisors Inc. Raises Position in Paycom Software, Inc. (NYSE:PAYC)

Pin Oak Investment Advisors Inc. increased its stake in Paycom Software, Inc. (NYSE:PAYC) by 73.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 182 shares of the software maker’s stock after purchasing an additional 77 shares during the period. Pin Oak Investment Advisors Inc.’s holdings in Paycom Software were worth $30,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of PAYC. Armstrong Advisory Group Inc. purchased a new stake in Paycom Software during the third quarter valued at about $26,000. Brooklyn Investment Group bought a new stake in shares of Paycom Software in the 3rd quarter worth approximately $28,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Paycom Software in the 2nd quarter valued at $25,000. MFA Wealth Advisors LLC bought a new position in shares of Paycom Software during the second quarter valued at about $26,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in Paycom Software during the 2nd quarter worth approximately $27,000. 87.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. BMO Capital Markets lifted their price target on Paycom Software from $183.00 to $197.00 and gave the stock a “market perform” rating in a research note on Thursday, October 31st. Citigroup increased their price target on shares of Paycom Software from $172.00 to $196.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a research report on Thursday, August 1st. TD Cowen upped their price objective on shares of Paycom Software from $171.00 to $188.00 and gave the company a “hold” rating in a research note on Monday, September 23rd. Finally, Mizuho boosted their price target on Paycom Software from $170.00 to $190.00 and gave the company a “neutral” rating in a report on Monday, November 4th. Twelve research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $193.67.

Insider Transactions at Paycom Software

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $229.09, for a total value of $446,725.50. Following the sale, the chief executive officer now directly owns 2,731,410 shares of the company’s stock, valued at approximately $625,738,716.90. The trade was a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold 54,600 shares of company stock valued at $9,726,717 in the last three months. 12.60% of the stock is currently owned by company insiders.

Paycom Software Stock Performance

Shares of PAYC traded down $1.25 on Thursday, reaching $234.99. The stock had a trading volume of 496,141 shares, compared to its average volume of 800,864. The firm has a market capitalization of $13.55 billion, a price-to-earnings ratio of 28.29, a price-to-earnings-growth ratio of 3.12 and a beta of 1.14. The company has a 50-day simple moving average of $189.69 and a 200-day simple moving average of $168.73. Paycom Software, Inc. has a 12-month low of $139.50 and a 12-month high of $237.33.

Paycom Software Dividend Announcement

The firm also recently announced 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 0.64%. The ex-dividend date of this dividend is Monday, November 25th. Paycom Software’s dividend payout ratio (DPR) is presently 18.05%.

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.