Handelsbanken Fonder AB Boosts Stock Holdings in Paycom Software, Inc. (NYSE:PAYC)

Handelsbanken Fonder AB grew its position in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 8.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,000 shares of the software maker's stock after acquiring an additional 1,100 shares during the quarter. Handelsbanken Fonder AB's holdings in Paycom Software were worth $3,059,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in PAYC. Glass Jacobson Investment Advisors llc boosted its position in Paycom Software by 746.7% during the 4th quarter. Glass Jacobson Investment Advisors llc now owns 127 shares of the software maker's stock worth $26,000 after acquiring an additional 112 shares during the period. Murphy & Mullick Capital Management Corp purchased a new stake in Paycom Software in the 4th quarter worth about $30,000. MassMutual Private Wealth & Trust FSB increased its position in Paycom Software by 135.9% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 151 shares of the software maker's stock worth $33,000 after purchasing an additional 87 shares during the last quarter. Putney Financial Group LLC acquired a new position in Paycom Software in the 4th quarter worth about $39,000. Finally, IFP Advisors Inc increased its holdings in shares of Paycom Software by 635.7% during the 4th quarter. IFP Advisors Inc now owns 206 shares of the software maker's stock valued at $43,000 after acquiring an additional 178 shares during the last quarter. 87.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on PAYC shares. Stifel Nicolaus raised their target price on Paycom Software from $187.00 to $215.00 and gave the company a "hold" rating in a report on Thursday, May 8th. Wall Street Zen downgraded Paycom Software from a "buy" rating to a "hold" rating in a research report on Tuesday, March 4th. BMO Capital Markets lifted their price objective on Paycom Software from $215.00 to $244.00 and gave the company a "market perform" rating in a research report on Thursday, May 8th. Needham & Company LLC reiterated a "hold" rating on shares of Paycom Software in a research report on Thursday, May 8th. Finally, KeyCorp lifted their price objective on Paycom Software from $245.00 to $270.00 and gave the company an "overweight" rating in a research report on Thursday, May 8th. Eleven analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $226.90.

Insider Activity

In related news, CEO Chad R. Richison sold 120,000 shares of the firm's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $243.52, for a total transaction of $29,222,400.00. Following the completion of the transaction, the chief executive officer now directly owns 3,307,249 shares of the company's stock, valued at $805,381,276.48. This trade represents a 3.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Randall Peck sold 890 shares of Paycom Software stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $263.21, for a total value of $234,256.90. Following the completion of the transaction, the chief operating officer now directly owns 49,394 shares of the company's stock, valued at approximately $13,000,994.74. This trade represents a 1.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 170,516 shares of company stock worth $42,361,668. Insiders own 10.90% of the company's stock.

Paycom Software Price Performance

NYSE:PAYC traded down $6.60 during trading hours on Friday, reaching $244.25. 552,422 shares of the company were exchanged, compared to its average volume of 674,296. The company has a market capitalization of $14.13 billion, a P/E ratio of 27.44, a P/E/G ratio of 2.40 and a beta of 0.81. Paycom Software, Inc. has a 1-year low of $139.50 and a 1-year high of $267.76. The business has a 50 day moving average of $240.37 and a 200 day moving average of $222.95.

Paycom Software (NYSE:PAYC - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The software maker reported $2.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.62 by $0.18. The business had revenue of $530.50 million for the quarter, compared to the consensus estimate of $522.92 million. Paycom Software had a return on equity of 33.53% and a net margin of 26.66%. The firm's quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.59 earnings per share. As a group, equities research analysts anticipate that Paycom Software, Inc. will post 7.15 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 9th. Stockholders of record on Tuesday, May 27th were paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date of this dividend was Tuesday, May 27th. Paycom Software's payout ratio is 21.40%.

Paycom Software Company 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.