Arrowstreet Capital Limited Partnership Purchases 369,825 Shares of Paycom Software, Inc. (NYSE:PAYC)

Arrowstreet Capital Limited Partnership lifted its stake in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 1,153.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 401,889 shares of the software maker's stock after acquiring an additional 369,825 shares during the period. Arrowstreet Capital Limited Partnership owned 0.70% of Paycom Software worth $82,375,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in PAYC. Thrivent Financial for Lutherans increased its position in shares of Paycom Software by 71.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 3,497 shares of the software maker's stock valued at $583,000 after purchasing an additional 1,462 shares during the period. Cerity Partners LLC boosted its stake in Paycom Software by 24.0% during the third quarter. Cerity Partners LLC now owns 10,694 shares of the software maker's stock valued at $1,781,000 after buying an additional 2,073 shares in the last quarter. FMR LLC grew its holdings in Paycom Software by 55.0% during the third quarter. FMR LLC now owns 1,007,919 shares of the software maker's stock worth $167,889,000 after acquiring an additional 357,723 shares during the period. Public Sector Pension Investment Board raised its position in Paycom Software by 28.2% in the third quarter. Public Sector Pension Investment Board now owns 1,816 shares of the software maker's stock worth $302,000 after acquiring an additional 400 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec acquired a new stake in Paycom Software in the 3rd quarter valued at about $16,702,000. 87.77% of the stock is currently owned by institutional investors.

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Insider Activity at Paycom Software

In other news, insider Bradley Scott Smith sold 3,000 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The stock was 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 directly owns 28,733 shares in the company, valued at $5,775,620.33. The trade was a 9.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Randall Peck sold 3,600 shares of the firm's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $212.19, for a total transaction of $763,884.00. Following the completion of the sale, the chief operating officer now owns 50,665 shares in the company, valued at approximately $10,750,606.35. The trade was a 6.63 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 7,100 shares of company stock valued at $1,476,024. Corporate insiders own 12.60% of the company's stock.

Paycom Software Stock Performance

Shares of NYSE PAYC traded down $2.32 during mid-day trading on Wednesday, reaching $218.58. The company had a trading volume of 527,670 shares, compared to its average volume of 720,816. Paycom Software, Inc. has a twelve month low of $139.50 and a twelve month high of $242.74. The stock's 50 day moving average is $212.72 and its 200-day moving average is $204.57. The stock has a market capitalization of $12.52 billion, a PE ratio of 24.56, a price-to-earnings-growth ratio of 2.40 and a beta of 0.97.

Paycom Software (NYSE:PAYC - Get Free Report) last issued its earnings results on Wednesday, February 12th. The software maker reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.03. Paycom Software had a return on equity of 33.53% and a net margin of 26.66%. On average, sell-side analysts anticipate that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 10th were issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.69%. The ex-dividend date of this dividend was Monday, March 10th. Paycom Software's dividend payout ratio is 16.85%.

Analysts Set New Price Targets

Several analysts recently commented on the stock. JPMorgan Chase & Co. increased their target price on shares of Paycom Software from $185.00 to $200.00 and gave the company a "neutral" rating in a research note on Thursday, February 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 report on Monday, December 9th. Needham & Company LLC reaffirmed a "hold" rating on shares of Paycom Software in a research report on Thursday, February 13th. Piper Sandler increased their price target on Paycom Software from $191.00 to $224.00 and gave the company a "neutral" rating in a research report on Friday, February 14th. Finally, Mizuho boosted their price objective on Paycom Software from $190.00 to $210.00 and gave the stock a "neutral" rating in a report on Friday, December 13th. Twelve equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $212.80.

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.