Resona Asset Management Co. Ltd. Purchases Shares of 15,291 Paycom Software, Inc. (NYSE:PAYC)

Resona Asset Management Co. Ltd. acquired a new position in Paycom Software, Inc. (NYSE:PAYC - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 15,291 shares of the software maker's stock, valued at approximately $3,138,000.

A number of other hedge funds also recently bought and sold shares of the business. Arrowstreet Capital Limited Partnership raised its position in Paycom Software by 1,153.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 401,889 shares of the software maker's stock valued at $82,375,000 after purchasing an additional 369,825 shares during the period. Raymond James Financial Inc. purchased a new stake in Paycom Software in the 4th quarter valued at about $63,923,000. Strategic Financial Concepts LLC bought a new position in Paycom Software in the fourth quarter worth approximately $42,893,000. Norges Bank bought a new position in shares of Paycom Software during the 4th quarter worth $21,510,000. Finally, Wellington Management Group LLP increased its position in 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 purchasing an additional 96,697 shares during the period. Hedge funds and other institutional investors own 87.77% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. KeyCorp upgraded Paycom Software from a "sector weight" rating to an "overweight" rating and set a $245.00 price target on the stock in a report on Monday, March 10th. Citigroup decreased their price target on shares of Paycom Software from $234.00 to $221.00 and set a "neutral" rating for the company in a report on Thursday, January 16th. Barclays dropped their target price on Paycom Software from $229.00 to $221.00 and set an "equal weight" rating on the stock in a research report on Thursday, January 23rd. Piper Sandler lifted their price objective on Paycom Software from $191.00 to $224.00 and gave the company a "neutral" rating in a research note on Friday, February 14th. Finally, StockNews.com lowered shares of Paycom Software from a "buy" rating to a "hold" rating in a report on Tuesday, March 4th. Twelve research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $212.80.

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Paycom Software Stock Performance

Shares of NYSE:PAYC traded up $1.76 during trading on Tuesday, reaching $220.03. The stock had a trading volume of 64,325 shares, compared to its average volume of 719,716. The business has a fifty day moving average price of $212.94 and a 200-day moving average price of $207.28. Paycom Software, Inc. has a 1-year low of $139.50 and a 1-year high of $242.74. The stock has a market cap of $12.73 billion, a PE ratio of 24.73, a PEG ratio of 2.40 and a beta of 0.97.

Paycom Software (NYSE:PAYC - Get Free Report) last issued 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 return on equity of 33.53% and a net margin of 26.66%. Sell-side analysts expect that Paycom Software, Inc. will post 7.15 earnings per share for the current year.

Paycom Software Dividend Announcement

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

Insider Buying and Selling at Paycom Software

In related news, insider Bradley Scott Smith sold 3,000 shares of the firm's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $201.01, for a total transaction of $603,030.00. Following the completion of the transaction, the insider now directly owns 28,733 shares in the company, valued at $5,775,620.33. This trade represents a 9.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director J C. Watts, Jr. sold 500 shares of the company's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $218.22, for a total value of $109,110.00. Following the sale, the director now directly owns 7,730 shares in the company, valued at $1,686,840.60. This represents a 6.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,100 shares of company stock worth $1,476,024 over the last quarter. 14.50% of the stock is currently owned by company 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.