MTM Investment Management LLC Grows Stake in Paycom Software, Inc. (NYSE:PAYC)

MTM Investment Management LLC raised its holdings in shares of Paycom Software, Inc. (NYSE:PAYC) by 17.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,639 shares of the software maker’s stock after purchasing an additional 384 shares during the period. MTM Investment Management LLC’s holdings in Paycom Software were worth $443,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Wrapmanager Inc. grew its position in Paycom Software by 2.6% during the 3rd quarter. Wrapmanager Inc. now owns 2,176 shares of the software maker’s stock worth $362,000 after purchasing an additional 56 shares during the last quarter. Andina Capital Management LLC grew its holdings in shares of 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 buying an additional 63 shares during the last quarter. Davis Investment Partners LLC grew its holdings in shares of Paycom Software by 1.0% during the third 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 during the last quarter. GAMMA Investing LLC increased its position in shares of Paycom Software by 26.7% in the 3rd quarter. GAMMA Investing LLC now owns 323 shares of the software maker’s stock valued at $54,000 after acquiring an additional 68 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Paycom Software by 1.7% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,624 shares of the software maker’s stock worth $661,000 after acquiring an additional 79 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PAYC. Jefferies Financial Group boosted their price target on Paycom Software from $170.00 to $175.00 and gave the company 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 company a “neutral” rating in a research report on Monday, November 4th. Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a research report on Thursday, August 1st. Citigroup upped their price objective on shares of Paycom Software from $172.00 to $196.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, Barclays raised their target price 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. Twelve analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $193.67.

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 Friday, August 23rd. The shares were sold at an average price of $162.27, for a total transaction of $316,426.50. Following the sale, the chief executive officer now 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last three months, insiders have sold 58,500 shares of company stock valued at $10,361,228. 12.60% of the stock is owned by corporate insiders.

Paycom Software Stock Performance

NYSE:PAYC opened at $216.92 on Wednesday. The stock has a market capitalization of $12.51 billion, a PE ratio of 26.10, a P/E/G ratio of 2.94 and a beta of 1.14. Paycom Software, Inc. has a fifty-two week low of $139.50 and a fifty-two week high of $233.69. The company has a fifty day moving average of $182.32 and a two-hundred day moving average of $166.31.

Paycom Software Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 9th. Investors of record on Monday, November 25th will be given a dividend of $0.375 per share. The ex-dividend date is Monday, November 25th. This represents a $1.50 annualized dividend and a dividend yield of 0.69%. 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.