Mirae Asset Global Investments Co. Ltd. Has $1.62 Million Stock Holdings in Paycom Software, Inc. (NYSE:PAYC)

Mirae Asset Global Investments Co. Ltd. trimmed its position in Paycom Software, Inc. (NYSE:PAYC) by 7.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,813 shares of the software maker’s stock after selling 629 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Paycom Software were worth $1,615,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of PAYC. Armstrong Advisory Group Inc. acquired a new position in Paycom Software during the 3rd quarter worth $26,000. Brooklyn Investment Group acquired a new position in shares of Paycom Software during the 3rd quarter worth about $28,000. Pin Oak Investment Advisors Inc. boosted its stake in Paycom Software by 73.3% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 182 shares of the software maker’s stock valued at $30,000 after purchasing an additional 77 shares during the period. First Horizon Advisors Inc. grew its holdings in Paycom Software by 821.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 212 shares of the software maker’s stock valued at $35,000 after buying an additional 189 shares during the last quarter. Finally, Blue Trust Inc. increased its position in Paycom Software by 277.1% in the 3rd quarter. Blue Trust Inc. now owns 264 shares of the software maker’s stock worth $44,000 after buying an additional 194 shares during the period. 87.77% of the stock is owned by institutional investors.

Paycom Software Trading Up 2.5 %

Shares of PAYC opened at $204.85 on Tuesday. The stock has a 50 day simple moving average of $212.80 and a 200-day simple moving average of $190.69. The stock has a market cap of $11.81 billion, a PE ratio of 24.65, a PEG ratio of 2.81 and a beta of 1.15. Paycom Software, Inc. has a 1 year low of $139.50 and a 1 year high of $242.74.

Paycom Software Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 10th 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 0.73%. Paycom Software’s payout ratio is presently 18.05%.

Insider Transactions at Paycom Software

In other news, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 2,731,410 shares of the company’s stock, valued at $625,738,716.90. The trade was a 0.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 14.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

PAYC has been the subject of several research reports. Piper Sandler increased their price objective on Paycom Software from $160.00 to $191.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Citigroup dropped their price objective on shares of Paycom Software from $234.00 to $221.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Mizuho increased their target price on shares of Paycom Software from $190.00 to $210.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. TD Cowen lifted their target price on Paycom Software from $193.00 to $248.00 and gave the stock a “hold” rating in a research report on Monday, December 9th. Finally, BMO Capital Markets raised their price objective on Paycom Software from $183.00 to $197.00 and gave the stock a “market perform” rating in a research report on Thursday, October 31st. Ten investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $204.75.

Paycom Software Company 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.