Aviva PLC Has $3.53 Million Stock Position in Paycom Software, Inc. (NYSE:PAYC)

Aviva PLC grew its holdings in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 22.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 17,241 shares of the software maker's stock after purchasing an additional 3,154 shares during the quarter. Aviva PLC's holdings in Paycom Software were worth $3,534,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Arrowstreet Capital Limited Partnership lifted its position in shares of Paycom Software by 1,153.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 401,889 shares of the software maker's stock worth $82,375,000 after acquiring an additional 369,825 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Paycom Software in the fourth quarter valued at $63,923,000. Strategic Financial Concepts LLC bought a new position in Paycom Software in the fourth quarter worth $42,893,000. Norges Bank bought a new position in shares of Paycom Software during the 4th quarter worth about $21,510,000. Finally, Wellington Management Group LLP boosted its position in shares of Paycom Software by 575.5% during the 4th quarter. Wellington Management Group LLP now owns 113,500 shares of the software maker's stock valued at $23,264,000 after acquiring an additional 96,697 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PAYC. KeyCorp raised shares of Paycom Software from a "sector weight" rating to an "overweight" rating and set a $245.00 price target for the company in a research report on Monday, March 10th. JPMorgan Chase & Co. increased their target price on Paycom Software from $185.00 to $200.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. Barclays decreased their price target on Paycom Software from $229.00 to $221.00 and set an "equal weight" rating on the stock in a research note on Thursday, January 23rd. Needham & Company LLC reiterated a "hold" rating on shares of Paycom Software in a research note on Thursday, February 13th. Finally, Citigroup reduced their target price on shares of Paycom Software from $234.00 to $221.00 and set a "neutral" rating on the stock in a research note on Thursday, January 16th. Twelve analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Paycom Software currently has a consensus rating of "Hold" and an average target price of $212.80.

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Paycom Software Trading Up 0.9 %

Shares of Paycom Software stock traded up $1.91 during trading on Tuesday, reaching $220.18. The company's stock had a trading volume of 64,325 shares, compared to its average volume of 719,716. Paycom Software, Inc. has a one year low of $139.50 and a one year high of $242.74. The stock has a 50-day moving average price of $212.94 and a two-hundred day moving average price of $207.28. The stock has a market capitalization of $12.74 billion, a P/E ratio of 24.73, a price-to-earnings-growth ratio of 2.40 and a beta of 0.97.

Paycom Software (NYSE:PAYC - Get Free Report) last announced 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 net margin of 26.66% and a return on equity of 33.53%. As a group, sell-side analysts anticipate that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 10th were paid a $0.375 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.50 annualized dividend and a dividend yield of 0.68%. Paycom Software's dividend payout ratio (DPR) is currently 16.85%.

Insider Transactions at Paycom Software

In other Paycom Software news, insider Bradley Scott Smith sold 3,000 shares of the company's stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $201.01, for a total transaction of $603,030.00. Following the completion of the sale, the insider now owns 28,733 shares in the company, valued at approximately $5,775,620.33. The trade was a 9.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Randall Peck sold 3,600 shares of the firm's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $212.19, for a total value of $763,884.00. Following the completion of the transaction, the chief operating officer now owns 50,665 shares in the company, valued at $10,750,606.35. This represents a 6.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 7,100 shares of company stock worth $1,476,024 over the last 90 days. 14.50% of the stock is owned by insiders.

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.