Nordea Investment Management AB Sells 48,830 Shares of Paycom Software, Inc. (NYSE:PAYC)

Nordea Investment Management AB decreased its position in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 18.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 211,292 shares of the software maker's stock after selling 48,830 shares during the period. Nordea Investment Management AB owned 0.37% of Paycom Software worth $42,284,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mather Group LLC. bought a new stake in Paycom Software during the first quarter worth approximately $26,000. Hexagon Capital Partners LLC lifted its holdings in shares of Paycom Software by 333.3% during the fourth quarter. Hexagon Capital Partners LLC now owns 130 shares of the software maker's stock valued at $27,000 after purchasing an additional 100 shares during the last quarter. Palisade Asset Management LLC purchased a new stake in shares of Paycom Software during the first quarter valued at $32,000. Transcendent Capital Group LLC purchased a new stake in shares of Paycom Software during the fourth quarter valued at $41,000. Finally, SYSTM Wealth Solutions LLC lifted its holdings in shares of Paycom Software by 75.8% during the first quarter. SYSTM Wealth Solutions LLC now owns 225 shares of the software maker's stock valued at $45,000 after purchasing an additional 97 shares during the last quarter. Institutional investors own 87.77% of the company's stock.

Insider Buying and Selling at Paycom Software

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the firm's stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $140.79, for a total value of $274,540.50. Following the sale, the chief executive officer now owns 3,027,608 shares of the company's stock, valued at approximately $426,256,930.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Jason D. Clark sold 906 shares of Paycom Software stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $143.61, for a total transaction of $130,110.66. Following the sale, the insider now owns 43,367 shares of the company's stock, valued at approximately $6,227,934.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $140.79, for a total value of $274,540.50. Following the sale, the chief executive officer now directly owns 3,027,608 shares in the company, valued at approximately $426,256,930.32. The disclosure for this sale can be found here. Insiders have sold 37,387 shares of company stock valued at $5,653,933 in the last 90 days. 12.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on PAYC shares. Mizuho reduced their target price on Paycom Software from $185.00 to $170.00 and set a "neutral" rating for the company in a report on Monday, May 6th. Barclays reduced their price objective on Paycom Software from $193.00 to $184.00 and set an "equal weight" rating for the company in a research note on Thursday, May 2nd. JPMorgan Chase & Co. increased their price objective on Paycom Software from $165.00 to $175.00 and gave the stock a "neutral" rating in a research note on Thursday, May 2nd. Needham & Company LLC reissued a "hold" rating on shares of Paycom Software in a research note on Thursday, May 2nd. Finally, StockNews.com raised Paycom Software from a "hold" rating to a "buy" rating in a research note on Tuesday, May 28th. Sixteen equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $237.81.

Paycom Software Stock Performance

Shares of NYSE PAYC traded down $0.19 during mid-day trading on Tuesday, reaching $140.16. 741,440 shares of the company traded hands, compared to its average volume of 855,441. The stock has a market cap of $8.14 billion, a PE ratio of 17.07, a price-to-earnings-growth ratio of 2.15 and a beta of 1.16. The company's fifty day moving average is $157.83 and its two-hundred day moving average is $180.74. Paycom Software, Inc. has a fifty-two week low of $139.50 and a fifty-two week high of $374.04.

Paycom Software (NYSE:PAYC - Get Free Report) last issued its quarterly earnings data on Wednesday, May 1st. The software maker reported $4.25 EPS for the quarter, beating analysts' consensus estimates of $1.96 by $2.29. The business had revenue of $499.88 million for the quarter, compared to analyst estimates of $495.89 million. Paycom Software had a return on equity of 32.84% and a net margin of 26.91%. Research analysts forecast that Paycom Software, Inc. will post 6.37 earnings per share for the current year.

Paycom Software Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 10th. Shareholders of record on Tuesday, May 28th were issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend was Friday, May 24th. Paycom Software's dividend payout ratio (DPR) is currently 18.27%.

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.