17,000 Shares in Paycom Software, Inc. (NYSE:PAYC) Purchased by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS acquired a new position in Paycom Software, Inc. (NYSE:PAYC - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 17,000 shares of the software maker's stock, valued at approximately $3,484,000.

Other large investors have also made changes to their positions in the company. Thrivent Financial for Lutherans lifted its holdings in shares of Paycom Software by 71.8% during the third quarter. Thrivent Financial for Lutherans now owns 3,497 shares of the software maker's stock valued at $583,000 after acquiring an additional 1,462 shares during the period. Intech Investment Management LLC boosted its position in Paycom Software by 181.1% in the third quarter. Intech Investment Management LLC now owns 4,733 shares of the software maker's stock valued at $788,000 after buying an additional 3,049 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Paycom Software by 45.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 486,462 shares of the software maker's stock worth $81,030,000 after buying an additional 151,807 shares during the last quarter. Raymond James Trust N.A. increased its holdings in shares of Paycom Software by 9.1% during the third quarter. Raymond James Trust N.A. now owns 2,512 shares of the software maker's stock worth $418,000 after buying an additional 209 shares in the last quarter. Finally, Cerity Partners LLC raised its stake in shares of Paycom Software by 24.0% in the third quarter. Cerity Partners LLC now owns 10,694 shares of the software maker's stock valued at $1,781,000 after acquiring an additional 2,073 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company's stock.

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Analyst Upgrades and Downgrades

PAYC has been the subject of a number of research reports. Citigroup lowered their price target on shares of Paycom Software from $234.00 to $221.00 and set a "neutral" rating for the company in a report on Thursday, January 16th. StockNews.com cut Paycom Software from a "buy" rating to a "hold" rating in a report on Tuesday, March 4th. Barclays dropped their price objective on Paycom Software from $229.00 to $221.00 and set an "equal weight" rating for the company in a report on Thursday, January 23rd. Stifel Nicolaus reduced their target price on shares of Paycom Software from $215.00 to $187.00 and set a "hold" rating on the stock in a research note on Thursday, February 13th. Finally, Mizuho lifted their price target on shares of Paycom Software from $190.00 to $210.00 and gave the stock a "neutral" rating in a research report on Friday, December 13th. Twelve equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $212.80.

Insider Buying and Selling

In other Paycom Software news, Director J C. Watts, Jr. sold 500 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the director now directly owns 7,730 shares in the company, valued at $1,686,840.60. This trade represents a 6.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Bradley Scott Smith sold 3,000 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $201.01, for a total value 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,100 shares of company stock worth $1,476,024. Company insiders own 14.50% of the company's stock.

Paycom Software Stock Performance

NYSE PAYC traded down $7.07 during trading on Friday, hitting $218.75. The stock had a trading volume of 547,958 shares, compared to its average volume of 723,974. The company has a market capitalization of $12.53 billion, a PE ratio of 24.58, a P/E/G ratio of 2.40 and a beta of 1.14. Paycom Software, Inc. has a 12 month low of $139.50 and a 12 month high of $242.74. The company's 50-day moving average price is $212.28 and its two-hundred day moving average price is $203.85.

Paycom Software (NYSE:PAYC - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The software maker reported $2.02 EPS for the quarter, topping 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%. As a group, equities analysts anticipate that Paycom Software, Inc. will post 7.15 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

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

Paycom Software 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.