Paycom Software, Inc. (NYSE:PAYC) Shares Bought by DNB Asset Management AS

DNB Asset Management AS grew its holdings in shares of Paycom Software, Inc. (NYSE:PAYC) by 3.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,488 shares of the software maker’s stock after buying an additional 299 shares during the period. DNB Asset Management AS’s holdings in Paycom Software were worth $1,357,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in PAYC. Mather Group LLC. bought a new stake in Paycom Software during the 1st quarter valued at $26,000. Hexagon Capital Partners LLC increased its holdings in shares of Paycom Software by 333.3% during the fourth quarter. Hexagon Capital Partners LLC now owns 130 shares of the software maker’s stock valued at $27,000 after purchasing an additional 100 shares during the period. Palisade Asset Management LLC bought a new stake in shares of Paycom Software during the first quarter valued at about $32,000. Transcendent Capital Group LLC acquired a new stake in Paycom Software in the fourth quarter worth about $41,000. Finally, SYSTM Wealth Solutions LLC grew its position in Paycom Software by 75.8% in the 1st quarter. SYSTM Wealth Solutions LLC now owns 225 shares of the software maker’s stock valued at $45,000 after buying an additional 97 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on PAYC. William Blair reaffirmed a “market perform” rating on shares of Paycom Software in a research note on Thursday, May 2nd. Jefferies Financial Group cut their price target on shares of Paycom Software from $170.00 to $145.00 and set a “hold” rating on the stock in a report on Monday, June 24th. BMO Capital Markets decreased their price objective on shares of Paycom Software from $200.00 to $190.00 and set a “market perform” rating for the company in a research note on Thursday, May 2nd. JPMorgan Chase & Co. lifted their price objective on shares of Paycom Software from $165.00 to $175.00 and gave the stock a “neutral” rating in a research report on Thursday, May 2nd. Finally, TD Cowen increased their target price on Paycom Software from $147.00 to $171.00 and gave the company a “hold” rating in a report on Thursday, August 1st. Seventeen research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $178.33.

Insider Transactions at Paycom Software

In related news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction on Friday, May 17th. The shares were sold at an average price of $180.82, for a total value of $352,599.00. Following the completion of the sale, the chief executive officer now owns 3,091,958 shares of the company’s stock, valued at approximately $559,087,845.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $180.82, for a total value of $352,599.00. Following the transaction, the chief executive officer now directly owns 3,091,958 shares of the company’s stock, valued at approximately $559,087,845.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Amy Vickroy sold 1,381 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $143.39, for a total value of $198,021.59. Following the completion of the sale, the executive vice president now owns 19,962 shares of the company’s stock, valued at $2,862,351.18. The disclosure for this sale can be found here. Insiders have sold a total of 60,787 shares of company stock worth $9,355,092 in the last 90 days. 14.50% of the stock is owned by insiders.

Paycom Software Stock Performance

NYSE:PAYC opened at $159.88 on Wednesday. The company has a market capitalization of $9.29 billion, a P/E ratio of 19.29, a P/E/G ratio of 2.71 and a beta of 1.16. The stock’s 50 day moving average price is $150.49 and its 200 day moving average price is $174.66. Paycom Software, Inc. has a 52 week low of $139.50 and a 52 week high of $299.00.

Paycom Software Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 9th. Stockholders of record on Monday, August 26th will be paid a dividend of $0.375 per share. The ex-dividend date of this dividend is Monday, August 26th. This represents a $1.50 annualized dividend and a dividend yield of 0.94%. Paycom Software’s dividend payout ratio (DPR) is 18.27%.

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.