Korea Investment CORP Has $6.84 Million Stock Position in Paycom Software, Inc. (NYSE:PAYC)

Korea Investment CORP reduced its stake in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 37.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,348 shares of the software maker's stock after selling 20,358 shares during the period. Korea Investment CORP owned 0.06% of Paycom Software worth $6,835,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Murphy & Mullick Capital Management Corp acquired a new position in Paycom Software in the 4th quarter valued at about $30,000. IFP Advisors Inc grew its position in shares of Paycom Software by 635.7% in the fourth quarter. IFP Advisors Inc now owns 206 shares of the software maker's stock valued at $43,000 after purchasing an additional 178 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Paycom Software by 33.3% during the fourth quarter. Blue Trust Inc. now owns 352 shares of the software maker's stock worth $72,000 after purchasing an additional 88 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in Paycom Software during the 3rd quarter worth approximately $79,000. Finally, Private Trust Co. NA boosted its stake in Paycom Software by 9.3% in the 4th quarter. Private Trust Co. NA now owns 575 shares of the software maker's stock valued at $118,000 after purchasing an additional 49 shares during the period. 87.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Piper Sandler increased their price objective on Paycom Software from $191.00 to $224.00 and gave the stock a "neutral" rating in a research report on Friday, February 14th. Stifel Nicolaus dropped their price objective on shares of Paycom Software from $215.00 to $187.00 and set a "hold" rating for the company in a research note on Thursday, February 13th. Mizuho raised their target price on shares of Paycom Software from $190.00 to $210.00 and gave the stock a "neutral" rating in a report on Friday, December 13th. Barclays cut their price target on Paycom Software from $229.00 to $221.00 and set an "equal weight" rating for the company in a research note on Thursday, January 23rd. Finally, Citigroup cut 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 investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $212.80.

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Paycom Software Stock Down 1.1 %

Shares of NYSE:PAYC traded down $2.32 during trading on Wednesday, hitting $218.58. 527,670 shares of the company were exchanged, compared to its average volume of 720,816. Paycom Software, Inc. has a 1-year low of $139.50 and a 1-year high of $242.74. The company has a market capitalization of $12.52 billion, a P/E ratio of 24.56, a price-to-earnings-growth ratio of 2.40 and a beta of 0.97. The business's 50 day moving average is $212.72 and its 200-day moving average is $204.57.

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 (EPS) for the quarter, topping 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%. As a group, sell-side analysts anticipate that Paycom Software, Inc. will post 7.15 earnings per share for the current year.

Paycom Software Dividend Announcement

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

Insider Buying and Selling

In related news, insider Bradley Scott Smith sold 3,000 shares of the company's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $201.01, for a total transaction of $603,030.00. Following the sale, the insider now owns 28,733 shares in the company, valued at $5,775,620.33. This represents a 9.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director J C. Watts, Jr. sold 500 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $218.22, for a total value of $109,110.00. Following the sale, the director now directly owns 7,730 shares of the company's stock, 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 have sold a total of 7,100 shares of company stock valued at $1,476,024 over the last 90 days. 12.60% of the stock is owned by insiders.

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.