Kayne Anderson Rudnick Investment Management LLC Increases Holdings in Paycom Software, Inc. (NYSE:PAYC)

Kayne Anderson Rudnick Investment Management LLC boosted its holdings in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 35.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 246,350 shares of the software maker's stock after purchasing an additional 64,842 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned about 0.43% of Paycom Software worth $50,495,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Kelly Lawrence W & Associates Inc. CA bought a new position in Paycom Software in the 4th quarter valued at approximately $10,845,000. MetLife Investment Management LLC lifted its stake in shares of Paycom Software by 1.2% in the 4th quarter. MetLife Investment Management LLC now owns 14,321 shares of the software maker's stock valued at $2,935,000 after acquiring an additional 170 shares during the last quarter. Norinchukin Bank The grew its position in Paycom Software by 18.3% during the 4th quarter. Norinchukin Bank The now owns 2,591 shares of the software maker's stock worth $531,000 after acquiring an additional 400 shares during the last quarter. Ossiam increased its holdings in Paycom Software by 32.2% in the 4th quarter. Ossiam now owns 1,743 shares of the software maker's stock worth $357,000 after purchasing an additional 425 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new position in Paycom Software in the fourth quarter valued at about $677,000. Institutional investors and hedge funds own 87.77% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Stifel Nicolaus reduced 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. Citigroup decreased their price target 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. 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 report on Friday, February 14th. KeyCorp upgraded Paycom Software from a "sector weight" rating to an "overweight" rating and set a $245.00 price objective for the company in a report on Monday, March 10th. Finally, StockNews.com cut Paycom Software from a "buy" rating to a "hold" rating in a report on Tuesday, March 4th. Twelve analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $212.80.

Insider Activity at Paycom Software

In related news, insider Bradley Scott Smith sold 3,000 shares of the business's stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $201.01, for a total value of $603,030.00. Following the transaction, the insider now directly owns 28,733 shares of the company's stock, valued at approximately $5,775,620.33. The trade was a 9.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 completion of the transaction, the director now owns 7,730 shares in the company, valued at approximately $1,686,840.60. The trade was a 6.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,100 shares of company stock valued at $1,476,024 over the last 90 days. Insiders own 10.90% of the company's stock.

Paycom Software Stock Up 1.0 %

NYSE:PAYC traded up $2.22 on Friday, hitting $228.08. The stock had a trading volume of 348,913 shares, compared to its average volume of 714,631. The company has a market cap of $13.19 billion, a PE ratio of 25.63, a P/E/G ratio of 2.40 and a beta of 0.97. Paycom Software, Inc. has a 52 week low of $139.50 and a 52 week high of $242.74. The business's fifty day moving average is $214.84 and its 200 day moving average is $209.96.

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

Paycom Software Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.50 dividend on an annualized basis and a yield of 0.66%. Paycom Software's dividend payout ratio (DPR) 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.