Paycom Software, Inc. $PAYC Shares Bought by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS raised its stake in Paycom Software, Inc. (NYSE:PAYC) by 17.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,000 shares of the software maker’s stock after buying an additional 3,000 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Paycom Software were worth $4,628,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Regency Capital Management Inc. DE acquired a new position in Paycom Software in the second quarter valued at about $885,000. KPP Advisory Services LLC lifted its position in Paycom Software by 2.2% in the second quarter. KPP Advisory Services LLC now owns 3,874 shares of the software maker’s stock valued at $896,000 after buying an additional 85 shares during the last quarter. PUREfi Wealth LLC lifted its position in Paycom Software by 16.6% in the second quarter. PUREfi Wealth LLC now owns 2,188 shares of the software maker’s stock valued at $506,000 after buying an additional 311 shares during the last quarter. QRG Capital Management Inc. lifted its position in Paycom Software by 43.3% in the second quarter. QRG Capital Management Inc. now owns 3,464 shares of the software maker’s stock valued at $802,000 after buying an additional 1,047 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in Paycom Software by 3.9% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,426 shares of the software maker’s stock valued at $1,950,000 after buying an additional 315 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Analyst Ratings Changes

PAYC has been the topic of several research reports. Barclays increased their price target on shares of Paycom Software from $240.00 to $250.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 7th. JPMorgan Chase & Co. increased their price target on shares of Paycom Software from $215.00 to $235.00 and gave the stock a “neutral” rating in a research report on Thursday, August 7th. TD Cowen raised shares of Paycom Software from a “hold” rating to a “buy” rating and increased their price target for the stock from $246.00 to $258.00 in a research report on Monday, September 22nd. BMO Capital Markets increased their price target on shares of Paycom Software from $244.00 to $258.00 and gave the stock a “market perform” rating in a research report on Thursday, August 7th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Paycom Software in a research report on Wednesday. Four equities research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $241.77.

Insider Buying and Selling

In other Paycom Software news, insider Bradley Scott Smith sold 1,500 shares of the stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $223.27, for a total value of $334,905.00. Following the transaction, the insider directly owned 24,533 shares in the company, valued at $5,477,482.91. This represents a 5.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 10.90% of the stock is owned by corporate insiders.

Paycom Software Stock Performance

PAYC stock opened at $199.87 on Friday. The company’s 50 day moving average price is $218.98 and its 200 day moving average price is $228.95. Paycom Software, Inc. has a fifty-two week low of $161.24 and a fifty-two week high of $267.76. The firm has a market capitalization of $11.57 billion, a price-to-earnings ratio of 27.05, a PEG ratio of 2.22 and a beta of 0.82.

Paycom Software (NYSE:PAYC) last released its earnings results on Wednesday, August 6th. The software maker reported $2.06 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.28. Paycom Software had a net margin of 21.22% and a return on equity of 25.40%. The firm had revenue of $483.60 million for the quarter, compared to analyst estimates of $472.00 million. During the same period in the prior year, the firm earned $1.62 earnings per share. The business’s quarterly revenue was up 10.5% compared to the same quarter last year. Equities analysts forecast that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 8th. Investors of record on Monday, August 25th were paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Monday, August 25th. Paycom Software’s dividend payout ratio is presently 20.30%.

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.