Arrowstreet Capital Limited Partnership Increases Stake in Paycom Software, Inc. (NYSE:PAYC)

Arrowstreet Capital Limited Partnership raised its holdings in shares of Paycom Software, Inc. (NYSE:PAYC) by 1,153.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 401,889 shares of the software maker’s stock after buying an additional 369,825 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.70% of Paycom Software worth $82,375,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. FMR LLC increased its stake in shares of Paycom Software by 55.0% in the 3rd quarter. FMR LLC now owns 1,007,919 shares of the software maker’s stock worth $167,889,000 after acquiring an additional 357,723 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in Paycom Software during the fourth quarter worth about $63,923,000. Strategic Financial Concepts LLC purchased a new position in Paycom Software during the fourth quarter worth about $42,893,000. Aureus Asset Management LLC boosted its holdings in Paycom Software by 417.8% in the 3rd quarter. Aureus Asset Management LLC now owns 133,214 shares of the software maker’s stock valued at $22,189,000 after purchasing an additional 107,487 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of Paycom Software in the 4th quarter valued at approximately $21,510,000. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PAYC has been the topic of several analyst reports. Citigroup reduced their price target on shares of Paycom Software from $234.00 to $221.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. StockNews.com cut Paycom Software from a “buy” rating to a “hold” rating in a report on Tuesday, March 4th. Piper Sandler boosted their price objective on shares of Paycom Software from $191.00 to $224.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a research report on Thursday, February 13th. Finally, Stifel Nicolaus decreased their price objective on shares of Paycom Software from $215.00 to $187.00 and set a “hold” rating on the stock in a report on Thursday, February 13th. Twelve investment 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 currently has an average rating of “Hold” and an average target price of $212.80.

Paycom Software Trading Up 0.0 %

NYSE:PAYC opened at $218.82 on Tuesday. The stock has a fifty day moving average price of $212.49 and a 200 day moving average price of $204.21. 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 $12.53 billion, a PE ratio of 24.59, a price-to-earnings-growth ratio of 2.40 and a beta of 1.14.

Paycom Software (NYSE:PAYC) last released its earnings results on Wednesday, February 12th. The software maker reported $2.02 earnings per share for the quarter, topping 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 analysts forecast that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 10th were paid a dividend of $0.375 per share. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.69%. Paycom Software’s payout ratio is currently 16.85%.

Insider Activity at Paycom Software

In related news, insider Bradley Scott Smith sold 3,000 shares of Paycom Software stock in a transaction 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 sale, the insider now directly owns 28,733 shares in the company, valued at $5,775,620.33. This trade represents a 9.45 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director J C. Watts, Jr. sold 500 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $218.22, for a total transaction of $109,110.00. Following the completion of the transaction, the director now owns 7,730 shares of the company’s stock, valued at $1,686,840.60. This represents a 6.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,100 shares of company stock valued at $1,476,024 over the last quarter. 14.50% of the stock is owned by 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.