DnB Asset Management AS Grows Stock Holdings in Paycom Software, Inc. (NYSE:PAYC)

DnB Asset Management AS grew its position in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 12.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,839 shares of the software maker's stock after purchasing an additional 1,208 shares during the quarter. DnB Asset Management AS's holdings in Paycom Software were worth $2,222,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in PAYC. Level Four Advisory Services LLC boosted its holdings in Paycom Software by 6.6% in the fourth quarter. Level Four Advisory Services LLC now owns 12,821 shares of the software maker's stock valued at $2,628,000 after acquiring an additional 792 shares during the last quarter. Orion Portfolio Solutions LLC boosted its stake in shares of Paycom Software by 4.5% in the 4th quarter. Orion Portfolio Solutions LLC now owns 11,549 shares of the software maker's stock valued at $2,367,000 after purchasing an additional 498 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its position in shares of Paycom Software by 1.2% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 15,127 shares of the software maker's stock worth $3,101,000 after buying an additional 172 shares during the period. New Age Alpha Advisors LLC bought a new position in Paycom Software during the fourth quarter worth $907,000. Finally, Norges Bank acquired a new position in Paycom Software in the fourth quarter valued at $21,510,000. Institutional investors and hedge funds own 87.77% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on PAYC shares. Citigroup lowered their price objective 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. StockNews.com cut Paycom Software from a "buy" rating to a "hold" rating in a research note on Tuesday, March 4th. Stifel Nicolaus reduced 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 report on Thursday, February 13th. KeyCorp upgraded Paycom Software from a "sector weight" rating to an "overweight" rating and set a $245.00 target price on the stock in a research note on Monday, March 10th. Finally, TD Cowen increased their price target on Paycom Software from $193.00 to $248.00 and gave the company a "hold" rating in a research report on Monday, December 9th. Twelve investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $212.80.

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Paycom Software Stock Performance

Shares of PAYC stock traded down $15.21 on Friday, hitting $198.22. 799,454 shares of the company's stock traded hands, compared to its average volume of 720,487. The stock has a market capitalization of $11.35 billion, a price-to-earnings ratio of 22.27, a P/E/G ratio of 2.40 and a beta of 0.97. The company's fifty day simple moving average is $213.10 and its 200 day simple moving average is $204.73. 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 announced its quarterly earnings results on Wednesday, February 12th. The software maker reported $2.02 earnings per share for the quarter, beating 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 anticipate that Paycom Software, Inc. will post 7.15 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date was Monday, March 10th. Paycom Software's payout ratio is currently 16.85%.

Insiders Place Their Bets

In other Paycom Software news, COO Randall Peck sold 3,600 shares of the company's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $212.19, for a total transaction of $763,884.00. Following the transaction, the chief operating officer now owns 50,665 shares in the company, valued at approximately $10,750,606.35. This represents a 6.63 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bradley Scott Smith sold 3,000 shares of the firm'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 owns 28,733 shares of the company's stock, valued at approximately $5,775,620.33. The trade was a 9.45 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,100 shares of company stock worth $1,476,024. 12.60% of the stock is currently owned by corporate 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.