Lansforsakringar Fondforvaltning AB publ Takes Position in Paycom Software, Inc. (NYSE:PAYC)

Lansforsakringar Fondforvaltning AB publ acquired a new position in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 16,562 shares of the software maker's stock, valued at approximately $3,395,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Glass Jacobson Investment Advisors llc increased its stake in shares of Paycom Software by 746.7% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 127 shares of the software maker's stock valued at $26,000 after acquiring an additional 112 shares during the last quarter. Murphy & Mullick Capital Management Corp bought a new stake in shares of Paycom Software in the 4th quarter valued at about $30,000. Putney Financial Group LLC bought a new stake in shares of Paycom Software in the 4th quarter valued at about $39,000. IFP Advisors Inc increased its stake in shares of Paycom Software by 635.7% in 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. Finally, Parvin Asset Management LLC bought a new stake in shares of Paycom Software in the 4th quarter valued at about $61,000. 87.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Piper Sandler upped their price target on Paycom Software from $224.00 to $246.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. Stifel Nicolaus upped their price target on Paycom Software from $187.00 to $215.00 and gave the company a "hold" rating in a research note on Thursday, May 8th. Wall Street Zen cut Paycom Software from a "buy" rating to a "hold" rating in a research note on Tuesday, March 4th. JPMorgan Chase & Co. boosted their price objective on Paycom Software from $185.00 to $200.00 and gave the company a "neutral" rating in a research report on Thursday, February 13th. Finally, Barclays boosted their price objective on Paycom Software from $221.00 to $240.00 and gave the company an "equal weight" rating in a research report on Thursday, May 8th. Eleven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Paycom Software presently has an average rating of "Hold" and a consensus target price of $226.90.

Paycom Software Stock Up 1.7%

Shares of PAYC traded up $4.37 on Tuesday, hitting $263.91. The company's stock had a trading volume of 590,678 shares, compared to its average volume of 683,411. The firm's fifty day moving average price is $232.85 and its 200-day moving average price is $221.24. Paycom Software, Inc. has a fifty-two week low of $139.50 and a fifty-two week high of $264.07. The firm has a market capitalization of $15.27 billion, a price-to-earnings ratio of 29.65, a P/E/G ratio of 2.40 and a beta of 0.80.

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

Paycom Software Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 9th. Shareholders of record on Tuesday, May 27th will be given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date is Tuesday, May 27th. Paycom Software's dividend payout ratio (DPR) is currently 21.40%.

Insiders Place Their Bets

In other Paycom Software news, 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 completion of the transaction, the insider now owns 28,733 shares of the company's stock, valued at $5,775,620.33. This represents a 9.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Chad R. Richison sold 26,426 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $255.52, for a total value of $6,752,371.52. Following the transaction, the chief executive officer now directly owns 3,277,249 shares of the company's stock, valued at approximately $837,402,664.48. This trade represents a 0.80% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 149,426 shares of company stock valued at $36,577,802 in the last quarter. 10.90% of the stock is currently owned by insiders.

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.