Norges Bank Acquires New Holdings in Paycom Software, Inc. (NYSE:PAYC)

Norges Bank acquired a new position in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 104,943 shares of the software maker's stock, valued at approximately $21,510,000. Norges Bank owned about 0.18% of Paycom Software as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Raymond James Financial Inc. purchased a new position in shares of Paycom Software in the 4th quarter worth about $63,923,000. Strategic Financial Concepts LLC acquired a new stake in Paycom Software during the 4th quarter worth approximately $42,893,000. National Bank of Canada FI increased its position in Paycom Software by 186.5% during the 3rd quarter. National Bank of Canada FI now owns 70,050 shares of the software maker's stock worth $11,668,000 after purchasing an additional 45,600 shares in the last quarter. Geode Capital Management LLC lifted its position in Paycom Software by 3.3% during the third quarter. Geode Capital Management LLC now owns 1,426,920 shares of the software maker's stock valued at $237,015,000 after buying an additional 45,404 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Paycom Software by 14.5% during the third quarter. JPMorgan Chase & Co. now owns 326,018 shares of the software maker's stock worth $54,305,000 after buying an additional 41,187 shares during the period. 87.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PAYC has been the topic of a number of research reports. Mizuho raised their target price on shares of Paycom Software from $190.00 to $210.00 and gave the company a "neutral" rating in a research note on Friday, December 13th. Stifel Nicolaus reduced their price objective on Paycom Software from $215.00 to $187.00 and set a "hold" rating on the stock in a research note on Thursday, February 13th. Citigroup decreased their target price on Paycom Software from $234.00 to $221.00 and set a "neutral" rating for the company in a research report on Thursday, January 16th. KeyCorp raised Paycom Software from a "sector weight" rating to an "overweight" rating and set a $245.00 price target on the stock in a research report on Monday, March 10th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Paycom Software from $185.00 to $200.00 and gave the company a "neutral" rating in a research report on Thursday, February 13th. Twelve analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $212.80.

Remove Ads

Paycom Software Price Performance

Shares of NYSE:PAYC traded up $5.43 during midday trading on Friday, reaching $215.65. The company had a trading volume of 406,694 shares, compared to its average volume of 723,150. The stock has a market capitalization of $12.35 billion, a P/E ratio of 24.23, a PEG ratio of 2.40 and a beta of 0.97. The stock's fifty day moving average price is $212.70 and its 200-day moving average price is $206.65. Paycom Software, Inc. has a one year low of $139.50 and a one year high of $242.74.

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

Paycom Software Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date of this dividend was Monday, March 10th. Paycom Software's dividend payout ratio is presently 16.85%.

Insider Transactions at Paycom Software

In other Paycom Software news, COO Randall Peck sold 3,600 shares of the firm's stock in a transaction dated 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 of the company's stock, valued at $10,750,606.35. This trade represents a 6.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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 transaction, the insider now directly owns 28,733 shares of the company's stock, valued at $5,775,620.33. This trade represents a 9.45 % 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. 14.50% of the stock is currently owned by corporate 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.