Jacksonville Wealth Management LLC Purchases New Holdings in Paycom Software, Inc. (NYSE:PAYC)

Jacksonville Wealth Management LLC acquired a new position in shares of Paycom Software, Inc. (NYSE:PAYC) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 1,920 shares of the software maker’s stock, valued at approximately $394,000.

Other large investors also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC grew its holdings in shares of Paycom Software by 51.4% during the third quarter. Nisa Investment Advisors LLC now owns 2,666 shares of the software maker’s stock valued at $444,000 after buying an additional 905 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Paycom Software by 14.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 326,018 shares of the software maker’s stock worth $54,305,000 after acquiring an additional 41,187 shares during the period. Sylebra Capital LLC grew 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 valued at $279,996,000 after acquiring an additional 685,190 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Paycom Software by 9.3% in the 3rd quarter. Principal Financial Group Inc. now owns 65,809 shares of the software maker’s stock valued at $10,962,000 after purchasing an additional 5,574 shares during the period. Finally, FMR LLC lifted its position in shares of Paycom Software by 55.0% in the third quarter. FMR LLC now owns 1,007,919 shares of the software maker’s stock worth $167,889,000 after purchasing an additional 357,723 shares in the last quarter. 87.77% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $167.37, for a total transaction of $326,371.50. Following the completion of the sale, the chief executive officer now directly owns 2,754,810 shares in the company, valued at $461,072,549.70. This represents a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 15,600 shares of company stock valued at $3,240,510 over the last 90 days. 14.50% of the stock is currently owned by company insiders.

Paycom Software Price Performance

Shares of NYSE:PAYC opened at $207.52 on Friday. The stock has a market capitalization of $11.97 billion, a P/E ratio of 24.97, a P/E/G ratio of 2.85 and a beta of 1.14. The business has a 50-day moving average of $217.17 and a two-hundred day moving average of $186.85. Paycom Software, Inc. has a fifty-two week low of $139.50 and a fifty-two week high of $242.74.

Paycom Software Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Monday, November 25th were issued a $0.375 dividend. The ex-dividend date of this dividend was Monday, November 25th. This represents a $1.50 annualized dividend and a yield of 0.72%. Paycom Software’s dividend payout ratio (DPR) is currently 18.05%.

Analysts Set New Price Targets

A number of brokerages recently commented on PAYC. Jefferies Financial Group boosted their price objective on shares of Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. TD Cowen boosted their price target on shares of Paycom Software from $193.00 to $248.00 and gave the company a “hold” rating in a report on Monday, December 9th. Citigroup cut their price objective on Paycom Software from $234.00 to $221.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Mizuho lifted their price objective on Paycom Software from $190.00 to $210.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Finally, Piper Sandler upped their target price on Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Twelve investment analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, Paycom Software currently has a consensus rating of “Hold” and a consensus target price of $204.75.

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.