Fmr LLC Buys 1,388,533 Shares of Paycom Software, Inc. (NYSE:PAYC)

FMR LLC lifted its holdings in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 137.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,396,452 shares of the software maker's stock after buying an additional 1,388,533 shares during the period. FMR LLC owned about 4.16% of Paycom Software worth $491,201,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Arrowstreet Capital Limited Partnership raised its position in Paycom Software by 1,153.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 401,889 shares of the software maker's stock valued at $82,375,000 after purchasing an additional 369,825 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Paycom Software during the fourth quarter worth about $63,923,000. Strategic Financial Concepts LLC bought a new stake in Paycom Software in the fourth quarter valued at approximately $42,893,000. Norges Bank bought a new stake in shares of Paycom Software in the 4th quarter valued at $21,510,000. Finally, Wellington Management Group LLP grew its holdings in Paycom Software by 575.5% during the 4th quarter. Wellington Management Group LLP now owns 113,500 shares of the software maker's stock worth $23,264,000 after acquiring an additional 96,697 shares during the period. 87.77% of the stock is currently owned by institutional investors.

Paycom Software Stock Up 0.7 %

Shares of PAYC stock traded up $1.48 during trading on Tuesday, hitting $219.75. The company had a trading volume of 79,394 shares, compared to its average volume of 719,820. Paycom Software, Inc. has a 52 week low of $139.50 and a 52 week high of $242.74. The stock has a market capitalization of $12.71 billion, a price-to-earnings ratio of 24.69, a price-to-earnings-growth ratio of 2.40 and a beta of 0.97. The stock's 50-day moving average is $212.94 and its two-hundred day moving average is $207.28.

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

Paycom Software Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 10th were given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date was Monday, March 10th. Paycom Software's payout ratio is presently 16.85%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PAYC. JPMorgan Chase & Co. boosted their price objective on Paycom Software from $185.00 to $200.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. Needham & Company LLC restated a "hold" rating on shares of Paycom Software in a report on Thursday, February 13th. Citigroup dropped their target price on shares of Paycom Software from $234.00 to $221.00 and set a "neutral" rating on the stock in a research report on Thursday, January 16th. Stifel Nicolaus dropped their price target on Paycom Software from $215.00 to $187.00 and set a "hold" rating on the stock in a report on Thursday, February 13th. Finally, Piper Sandler upped their price objective on Paycom Software from $191.00 to $224.00 and gave the company a "neutral" rating in a research note on Friday, February 14th. Twelve investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, Paycom Software presently has an average rating of "Hold" and an average price target of $212.80.

Insider Buying and Selling at Paycom Software

In related news, 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 sale, the chief operating officer now owns 50,665 shares in the company, valued at $10,750,606.35. The trade was a 6.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director J C. Watts, Jr. sold 500 shares of the business's stock in a transaction dated 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 owns 7,730 shares in the company, valued at $1,686,840.60. This represents a 6.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,100 shares of company stock worth $1,476,024 over the last three months. Company insiders own 14.50% of the company's stock.

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.