Wellington Management Group LLP Raises Holdings in Paycom Software, Inc. (NYSE:PAYC)

Wellington Management Group LLP boosted its stake in Paycom Software, Inc. (NYSE:PAYC) by 575.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 113,500 shares of the software maker’s stock after buying an additional 96,697 shares during the quarter. Wellington Management Group LLP owned approximately 0.20% of Paycom Software worth $23,264,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership grew its holdings in shares of Paycom Software by 1,153.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 401,889 shares of the software maker’s stock worth $82,375,000 after buying an additional 369,825 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Paycom Software in the 4th quarter valued at $63,923,000. Strategic Financial Concepts LLC acquired a new position in Paycom Software in the 4th quarter valued at $42,893,000. Norges Bank acquired a new stake in shares of Paycom Software during the fourth quarter worth $21,510,000. Finally, National Bank of Canada FI boosted its holdings in shares of Paycom Software by 186.5% during the third quarter. National Bank of Canada FI now owns 70,050 shares of the software maker’s stock worth $11,668,000 after purchasing an additional 45,600 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. TD Cowen increased their target price on Paycom Software from $193.00 to $248.00 and gave the stock a “hold” rating in a research report on Monday, December 9th. StockNews.com lowered shares of Paycom Software from a “buy” rating to a “hold” rating in a report on Tuesday, March 4th. JPMorgan Chase & Co. upped their price target on shares of Paycom Software from $185.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a report on Thursday, February 13th. Finally, KeyCorp upgraded Paycom Software from a “sector weight” rating to an “overweight” rating and set a $245.00 price objective for the company in a report on Monday, March 10th. Twelve research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Paycom Software presently has an average rating of “Hold” and an average target price of $212.80.

Insider Activity

In related news, insider Bradley Scott Smith sold 3,000 shares of the stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $201.01, for a total value of $603,030.00. Following the completion of the transaction, the insider now owns 28,733 shares of the company’s stock, valued at approximately $5,775,620.33. This represents a 9.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director J C. Watts, Jr. sold 500 shares of Paycom Software stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $218.22, for a total value of $109,110.00. Following the sale, the director now owns 7,730 shares in the company, valued at $1,686,840.60. This represents a 6.08 % 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. 14.50% of the stock is currently owned by company insiders.

Paycom Software Trading Down 1.1 %

Shares of NYSE PAYC opened at $195.90 on Tuesday. The stock has a fifty day moving average price of $212.58 and a 200 day moving average price of $205.59. Paycom Software, Inc. has a 12-month low of $139.50 and a 12-month high of $242.74. The company has a market cap of $11.22 billion, a P/E ratio of 22.01, a P/E/G ratio of 2.40 and a beta of 0.97.

Paycom Software (NYSE:PAYC) last posted its earnings results on Wednesday, February 12th. The software maker reported $2.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.99 by $0.03. Paycom Software had a return on equity of 33.53% and a net margin of 26.66%. On average, sell-side 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, March 24th. Stockholders of record on Monday, March 10th were given 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 0.77%. Paycom Software’s payout ratio is currently 16.85%.

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.