Paycom Software, Inc. (NYSE:PAYC) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC grew its holdings in Paycom Software, Inc. (NYSE:PAYC) by 6.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,516,768 shares of the software maker’s stock after buying an additional 89,848 shares during the period. Geode Capital Management LLC owned 2.63% of Paycom Software worth $310,245,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. raised its holdings in Paycom Software by 14.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 326,018 shares of the software maker’s stock valued at $54,305,000 after acquiring an additional 41,187 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Paycom Software in the fourth quarter valued at approximately $7,142,000. Nordea Investment Management AB lifted its position in Paycom Software by 3.5% during the fourth quarter. Nordea Investment Management AB now owns 204,377 shares of the software maker’s stock worth $41,952,000 after buying an additional 6,916 shares in the last quarter. Glenview Trust co boosted its stake in Paycom Software by 27.1% during the fourth quarter. Glenview Trust co now owns 12,294 shares of the software maker’s stock worth $2,520,000 after buying an additional 2,625 shares during the last quarter. Finally, Friedenthal Financial purchased a new stake in Paycom Software in the 4th quarter valued at $776,000. 87.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on PAYC shares. Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a research report on Thursday, February 13th. Stifel Nicolaus dropped their price target on shares of Paycom Software from $215.00 to $187.00 and set a “hold” rating for the company in a research note on Thursday, February 13th. StockNews.com lowered shares of Paycom Software from a “buy” rating to a “hold” rating in a research report on Tuesday, March 4th. Citigroup lowered their price objective on Paycom Software from $234.00 to $221.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Finally, Mizuho lifted their target price on Paycom Software from $190.00 to $210.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Twelve investment 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, the company presently has an average rating of “Hold” and an average price target of $212.80.

Insider Activity at Paycom Software

In related news, Director J C. Watts, Jr. sold 500 shares of Paycom Software 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 completion of the transaction, the director now owns 7,730 shares in the company, valued at $1,686,840.60. The trade was a 6.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 shares were sold at an average price of $201.01, for a total transaction of $603,030.00. Following the completion of the sale, the insider now directly owns 28,733 shares in the company, valued at approximately $5,775,620.33. This represents a 9.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 7,100 shares of company stock worth $1,476,024. Company insiders own 12.60% of the company’s stock.

Paycom Software Price Performance

Shares of Paycom Software stock opened at $198.22 on Friday. The stock has a market capitalization of $11.35 billion, a price-to-earnings ratio of 22.27, a price-to-earnings-growth ratio of 2.40 and a beta of 0.97. The business has a 50-day moving average of $212.92 and a 200 day moving average of $204.93. Paycom Software, Inc. has a 12 month low of $139.50 and a 12 month high of $242.74.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings data on Wednesday, February 12th. The software maker reported $2.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.99 by $0.03. Paycom Software had a net margin of 26.66% and a return on equity of 33.53%. Equities research analysts anticipate that Paycom Software, Inc. will post 7.15 earnings per share for the current year.

Paycom Software Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 10th were paid a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 0.76%. The ex-dividend date was Monday, March 10th. Paycom Software’s payout ratio is currently 16.85%.

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.