Polen Capital Management LLC Decreases Stake in Paycom Software, Inc. (NYSE:PAYC)

Polen Capital Management LLC cut its holdings in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 9.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,171,660 shares of the software maker's stock after selling 339,236 shares during the period. Paycom Software comprises approximately 1.8% of Polen Capital Management LLC's investment portfolio, making the stock its 20th biggest position. Polen Capital Management LLC owned 5.50% of Paycom Software worth $650,095,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PAYC. JPMorgan Chase & Co. lifted its stake in shares of Paycom Software by 14.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 326,018 shares of the software maker's stock valued at $54,305,000 after acquiring an additional 41,187 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Paycom Software by 9.3% in the 3rd quarter. Principal Financial Group Inc. now owns 65,809 shares of the software maker's stock valued at $10,962,000 after acquiring an additional 5,574 shares during the last quarter. FMR LLC lifted its stake in shares of Paycom Software by 55.0% in the 3rd quarter. FMR LLC now owns 1,007,919 shares of the software maker's stock valued at $167,889,000 after acquiring an additional 357,723 shares during the last quarter. Nordea Investment Management AB lifted its stake in shares of Paycom Software by 3.5% in the 4th quarter. Nordea Investment Management AB now owns 204,377 shares of the software maker's stock valued at $41,952,000 after acquiring an additional 6,916 shares during the last quarter. Finally, Friedenthal Financial bought a new position in shares of Paycom Software in the 4th quarter valued at $776,000. 87.77% of the stock is currently owned by institutional investors.

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Insider Activity

In other news, 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 transaction of $763,884.00. Following the completion of the sale, the chief operating officer now directly owns 50,665 shares of the company's stock, valued at $10,750,606.35. This trade represents a 6.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Bradley Scott Smith sold 3,000 shares of the firm's stock in a transaction 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 sale, the insider now directly owns 28,733 shares of the company's stock, valued at approximately $5,775,620.33. This represents a 9.45 % 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 valued at $1,476,024 in the last ninety days. 14.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on PAYC. Mizuho increased their price target on Paycom Software from $190.00 to $210.00 and gave the company a "neutral" rating in a research note on Friday, December 13th. Needham & Company LLC restated a "hold" rating on shares of Paycom Software in a report on Thursday, February 13th. Stifel Nicolaus decreased their price objective on Paycom Software from $215.00 to $187.00 and set a "hold" rating for the company in a report on Thursday, February 13th. KeyCorp upgraded Paycom Software from a "sector weight" rating to an "overweight" rating and set a $245.00 price objective for the company in a report on Monday, March 10th. Finally, Piper Sandler increased their price target on Paycom Software from $191.00 to $224.00 and gave the stock a "neutral" rating in a report on Friday, February 14th. Twelve analysts have rated the stock with a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $212.80.

Paycom Software Stock Down 0.9 %

NYSE PAYC traded down $1.93 on Thursday, reaching $215.51. The company had a trading volume of 496,852 shares, compared to its average volume of 700,024. The stock has a market capitalization of $12.34 billion, a P/E ratio of 24.21, a P/E/G ratio of 2.40 and a beta of 1.14. The company's fifty day moving average is $209.87 and its 200 day moving average is $200.65. Paycom Software, Inc. has a 52-week low of $139.50 and a 52-week high of $242.74.

Paycom Software (NYSE:PAYC - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The software maker reported $2.02 EPS for the quarter, beating 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%. On average, research analysts expect that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 10th will be given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 0.70%. The ex-dividend date of this dividend is Monday, March 10th. Paycom Software's dividend payout ratio is presently 16.85%.

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.