DnB Asset Management AS Boosts Holdings in Paycom Software, Inc. (NYSE:PAYC)

DnB Asset Management AS grew its position in shares of Paycom Software, Inc. (NYSE:PAYC) by 12.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 10,839 shares of the software maker’s stock after buying an additional 1,208 shares during the period. DnB Asset Management AS’s holdings in Paycom Software were worth $2,222,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Paycom Software in the 4th quarter valued at approximately $30,000. IFP Advisors Inc raised its position in Paycom Software by 635.7% in the fourth quarter. IFP Advisors Inc now owns 206 shares of the software maker’s stock worth $43,000 after acquiring an additional 178 shares in the last quarter. Blue Trust Inc. lifted its holdings in Paycom Software by 33.3% in the fourth quarter. Blue Trust Inc. now owns 352 shares of the software maker’s stock valued at $72,000 after acquiring an additional 88 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in Paycom Software in the third quarter valued at $79,000. Finally, Private Trust Co. NA grew its stake in shares of Paycom Software by 9.3% during the 4th quarter. Private Trust Co. NA now owns 575 shares of the software maker’s stock worth $118,000 after purchasing an additional 49 shares during the period. Institutional investors and hedge funds own 87.77% of the company’s stock.

Insider Activity at Paycom Software

In related news, Director J C. Watts, Jr. sold 500 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were 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 of the company’s stock, valued at approximately $1,686,840.60. This trade represents a 6.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Bradley Scott Smith sold 3,000 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $201.01, for a total transaction of $603,030.00. Following the transaction, the insider now directly owns 28,733 shares of the company’s stock, valued at $5,775,620.33. This trade represents a 9.45 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 7,100 shares of company stock worth $1,476,024. 14.50% of the stock is currently owned by insiders.

Paycom Software Trading Up 1.1 %

NYSE:PAYC opened at $220.97 on Wednesday. Paycom Software, Inc. has a 12-month low of $139.50 and a 12-month high of $242.74. The firm has a market cap of $12.65 billion, a price-to-earnings ratio of 24.83, a price-to-earnings-growth ratio of 2.40 and a beta of 1.14. The company’s 50-day moving average is $212.72 and its two-hundred day moving average is $204.57.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings data on Wednesday, February 12th. The software maker reported $2.02 earnings per share (EPS) for the quarter, beating 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%. On average, equities research analysts forecast that Paycom Software, Inc. will post 7.15 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PAYC. JPMorgan Chase & Co. raised their price objective on shares of Paycom Software from $185.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. KeyCorp upgraded shares of Paycom Software from a “sector weight” rating to an “overweight” rating and set a $245.00 price target for the company in a research report on Monday, March 10th. Stifel Nicolaus lowered their price target on Paycom Software from $215.00 to $187.00 and set a “hold” rating on the stock in a report on Thursday, February 13th. Citigroup reduced their price objective on Paycom Software from $234.00 to $221.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Finally, Mizuho upped their target price on Paycom Software from $190.00 to $210.00 and gave the company a “neutral” rating in a report on Friday, December 13th. Twelve equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $212.80.

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.