Paycom Software, Inc. (NYSE:PAYC) Shares Purchased by DnB Asset Management AS

DnB Asset Management AS boosted its position in shares of Paycom Software, Inc. (NYSE:PAYC) by 12.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,839 shares of the software maker’s stock after purchasing an additional 1,208 shares during the period. DnB Asset Management AS’s holdings in Paycom Software were worth $2,222,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Paycom Software during the 4th quarter worth about $30,000. IFP Advisors Inc increased its position in shares of Paycom Software by 635.7% during the fourth quarter. IFP Advisors Inc now owns 206 shares of the software maker’s stock valued at $43,000 after acquiring an additional 178 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Paycom Software by 33.3% in the 4th quarter. Blue Trust Inc. now owns 352 shares of the software maker’s stock valued at $72,000 after acquiring an additional 88 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of Paycom Software in the 3rd quarter worth approximately $79,000. Finally, Private Trust Co. NA boosted its position in shares of Paycom Software by 9.3% during the 4th quarter. Private Trust Co. NA now owns 575 shares of the software maker’s stock worth $118,000 after purchasing an additional 49 shares during the period. 87.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PAYC has been the topic of a number of research analyst reports. Barclays cut their target price on Paycom Software from $229.00 to $221.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 23rd. Piper Sandler boosted their price target on shares of Paycom Software from $191.00 to $224.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. Mizuho upped their target price on shares of Paycom Software from $190.00 to $210.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. KeyCorp raised shares of Paycom Software from a “sector weight” rating to an “overweight” rating and set a $245.00 price target for the company in a research report on Monday, March 10th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a research note on Thursday, February 13th. Twelve investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Paycom Software has a consensus rating of “Hold” and an average price target of $212.80.

Insider Transactions at Paycom Software

In other Paycom Software news, Director J C. Watts, Jr. sold 500 shares of the firm’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $218.22, for a total transaction of $109,110.00. Following the transaction, the director now directly owns 7,730 shares of the company’s stock, valued at approximately $1,686,840.60. This trade represents a 6.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Bradley Scott Smith sold 3,000 shares of Paycom Software stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $201.01, for a total transaction of $603,030.00. Following the completion of the transaction, the insider now owns 28,733 shares in the company, valued at approximately $5,775,620.33. This represents a 9.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,100 shares of company stock worth $1,476,024. Corporate insiders own 14.50% of the company’s stock.

Paycom Software Stock Performance

Shares of NYSE PAYC opened at $220.97 on Wednesday. The stock’s 50-day simple moving average is $212.72 and its 200-day simple moving average is $204.57. The firm has a market capitalization of $12.65 billion, a PE ratio of 24.83, a price-to-earnings-growth ratio of 2.40 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 $242.74.

Paycom Software (NYSE:PAYC) last released its quarterly earnings data on Wednesday, February 12th. The software maker reported $2.02 earnings per share for the quarter, topping analysts’ consensus estimates of $1.99 by $0.03. Paycom Software had a net margin of 26.66% and a return on equity of 33.53%. On average, sell-side analysts forecast that Paycom Software, Inc. will post 7.15 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 0.68%. The ex-dividend date was Monday, March 10th. Paycom Software’s payout ratio is 16.85%.

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.