Paycom Software, Inc. (NYSE:PAYC) Stock Holdings Lowered by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board lowered its position in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 50.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 59,774 shares of the software maker's stock after selling 61,400 shares during the quarter. Canada Pension Plan Investment Board owned 0.10% of Paycom Software worth $12,252,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. FMR LLC grew its holdings in shares of Paycom Software by 137.8% during the 4th quarter. FMR LLC now owns 2,396,452 shares of the software maker's stock worth $491,201,000 after purchasing an additional 1,388,533 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in Paycom Software by 1,153.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 401,889 shares of the software maker's stock valued at $82,375,000 after buying an additional 369,825 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Paycom Software during the fourth quarter worth approximately $63,923,000. Strategic Financial Concepts LLC acquired a new stake in shares of Paycom Software in the fourth quarter worth $42,893,000. Finally, Norges Bank purchased a new position in shares of Paycom Software in the 4th quarter valued at $21,510,000. Hedge funds and other institutional investors own 87.77% of the company's stock.

Insiders Place Their Bets

In other Paycom Software 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 value of $603,030.00. Following the completion of the sale, the insider now directly owns 28,733 shares in the company, valued at $5,775,620.33. This represents a 9.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Randall Peck sold 3,600 shares of Paycom Software stock in a transaction on Friday, February 21st. The shares were sold at an average price of $212.19, for a total value of $763,884.00. Following the transaction, the chief operating officer now owns 50,665 shares in the company, valued at approximately $10,750,606.35. This trade represents a 6.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,100 shares of company stock worth $1,476,024. 10.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

PAYC has been the topic of a number of recent research reports. KeyCorp upgraded Paycom Software from a "sector weight" rating to an "overweight" rating and set a $245.00 price objective on the stock in a research note on Monday, March 10th. Barclays reduced their price target 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. StockNews.com downgraded shares of Paycom Software from a "buy" rating to a "hold" rating in a research note on Tuesday, March 4th. Piper Sandler lifted 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. Finally, Citigroup decreased their price objective on shares of Paycom Software from $234.00 to $221.00 and set a "neutral" rating for the company in a research report on Thursday, January 16th. Twelve analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $212.80.

Paycom Software Price Performance

NYSE:PAYC traded up $2.22 during midday trading on Friday, reaching $228.08. 348,812 shares of the company traded hands, compared to its average volume of 715,144. The firm has a market capitalization of $13.19 billion, a price-to-earnings ratio of 25.63, a price-to-earnings-growth ratio of 2.40 and a beta of 0.97. The company has a fifty day moving average price of $214.55 and a 200 day moving average price of $209.49. Paycom Software, Inc. has a twelve month low of $139.50 and a twelve month high of $242.74.

Paycom Software (NYSE:PAYC - Get Free Report) last posted its earnings results on Wednesday, February 12th. The software maker reported $2.02 earnings per share (EPS) for the quarter, beating 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, equities research analysts forecast that Paycom Software, Inc. will post 7.15 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 0.66%. The ex-dividend date was Monday, March 10th. Paycom Software's payout ratio is currently 16.85%.

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.