Fjarde AP Fonden Fourth Swedish National Pension Fund Cuts Stake in Paycom Software, Inc. (NYSE:PAYC)

Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its stake in Paycom Software, Inc. (NYSE:PAYC) by 6.9% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 14,760 shares of the software maker’s stock after selling 1,100 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Paycom Software were worth $3,025,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PAYC. Brooklyn Investment Group bought a new stake in Paycom Software in the 3rd quarter valued at about $28,000. Pin Oak Investment Advisors Inc. raised its stake in Paycom Software by 73.3% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 182 shares of the software maker’s stock valued at $30,000 after acquiring an additional 77 shares during the period. First Horizon Advisors Inc. raised its stake in Paycom Software by 821.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 212 shares of the software maker’s stock valued at $35,000 after acquiring an additional 189 shares during the period. Blue Trust Inc. raised its stake in Paycom Software by 277.1% in the 3rd quarter. Blue Trust Inc. now owns 264 shares of the software maker’s stock valued at $44,000 after acquiring an additional 194 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new stake in Paycom Software in the 3rd quarter valued at about $79,000. 87.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Citigroup lowered their price objective on Paycom Software from $234.00 to $221.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Jefferies Financial Group boosted their price objective on Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. boosted their price objective on Paycom Software from $185.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Piper Sandler upped their price target on Paycom Software from $191.00 to $224.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Finally, TD Cowen upped 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. Eleven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $209.22.

Paycom Software Trading Up 0.2 %

PAYC stock opened at $219.49 on Thursday. The company’s 50 day moving average is $207.39 and its 200 day moving average is $194.92. The stock has a market cap of $12.57 billion, a price-to-earnings ratio of 24.66, a price-to-earnings-growth ratio of 2.40 and a beta of 1.15. Paycom Software, Inc. has a 1-year low of $139.50 and a 1-year high of $242.74.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings data 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 net margin of 26.66% and a return on equity of 33.53%. As a group, sell-side analysts forecast that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 10th will be given a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 0.68%. The ex-dividend date is Monday, March 10th. Paycom Software’s dividend payout ratio (DPR) is 16.85%.

Insider Buying and Selling

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 value of $763,884.00. Following the completion of the sale, the chief operating officer now owns 50,665 shares of the company’s stock, valued at $10,750,606.35. This represents a 6.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director J C. Watts, Jr. sold 500 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 7,730 shares of the company’s stock, valued at approximately $1,686,840.60. This represents a 6.08 % decrease in their position. The disclosure for this sale can be found here. 14.50% of the stock is 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.