Korea Investment CORP Sells 20,358 Shares of Paycom Software, Inc. (NYSE:PAYC)

Korea Investment CORP reduced its stake in Paycom Software, Inc. (NYSE:PAYC) by 37.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 33,348 shares of the software maker’s stock after selling 20,358 shares during the period. Korea Investment CORP owned approximately 0.06% of Paycom Software worth $6,835,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of PAYC. Murphy & Mullick Capital Management Corp acquired a new stake in Paycom Software in the 4th quarter valued at $30,000. IFP Advisors Inc boosted its stake in shares of Paycom Software by 635.7% in the 4th quarter. IFP Advisors Inc now owns 206 shares of the software maker’s stock valued at $43,000 after purchasing an additional 178 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Paycom Software by 33.3% in the 4th quarter. Blue Trust Inc. now owns 352 shares of the software maker’s stock worth $72,000 after purchasing an additional 88 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Paycom Software during the 3rd quarter worth about $79,000. Finally, Private Trust Co. NA lifted its holdings in Paycom Software by 9.3% during the 4th quarter. Private Trust Co. NA now owns 575 shares of the software maker’s stock valued at $118,000 after purchasing an additional 49 shares during the last quarter. 87.77% of the stock is owned by institutional investors and hedge funds.

Paycom Software Stock Up 0.0 %

NYSE:PAYC opened at $218.82 on Tuesday. Paycom Software, Inc. has a 12-month low of $139.50 and a 12-month high of $242.74. The stock’s fifty day simple moving average is $212.49 and its 200-day simple moving average is $204.21. The firm has a market capitalization of $12.53 billion, a P/E ratio of 24.59, a P/E/G ratio of 2.40 and a beta of 1.14.

Paycom Software (NYSE:PAYC) last issued 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 return on equity of 33.53% and a net margin of 26.66%. As a group, equities research analysts expect that Paycom Software, Inc. will post 7.15 earnings per share for the current year.

Paycom Software Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were issued a $0.375 dividend. The ex-dividend date was Monday, March 10th. This represents a $1.50 annualized dividend and a yield of 0.69%. Paycom Software’s dividend payout ratio (DPR) is presently 16.85%.

Analyst Ratings Changes

A number of equities research analysts recently commented 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 research report on Monday, March 10th. StockNews.com lowered Paycom Software from a “buy” rating to a “hold” rating in a research note on Tuesday, March 4th. Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a report on Thursday, February 13th. Barclays decreased their price objective on shares of Paycom Software from $229.00 to $221.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Finally, Citigroup dropped their target price on shares of Paycom Software from $234.00 to $221.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Twelve equities research 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, Paycom Software currently has a consensus rating of “Hold” and a consensus price target of $212.80.

Insider Transactions at Paycom Software

In related news, COO Randall Peck sold 3,600 shares of the business’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 transaction, the chief operating officer now directly owns 50,665 shares in the company, valued at approximately $10,750,606.35. The trade was a 6.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Bradley Scott Smith sold 3,000 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was 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. The trade was a 9.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 7,100 shares of company stock valued at $1,476,024 over the last three months. 14.50% of the stock is currently owned by corporate insiders.

Paycom Software 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.