Handelsbanken Fonder AB Acquires 1,100 Shares of Paycom Software, Inc. (NYSE:PAYC)

Handelsbanken Fonder AB grew its holdings in Paycom Software, Inc. (NYSE:PAYC) by 8.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm 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 SEC filing.

A number of other institutional investors also recently modified their holdings of the business. SG Americas Securities LLC boosted its position in shares of Paycom Software by 57.1% in the first quarter. SG Americas Securities LLC now owns 2,685 shares of the software maker’s stock valued at $587,000 after acquiring an additional 976 shares during the period. Accurate Wealth Management LLC lifted its position in Paycom Software by 37.4% during the first quarter. Accurate Wealth Management LLC now owns 6,585 shares of the software maker’s stock worth $1,421,000 after purchasing an additional 1,792 shares during the period. Simplicity Wealth LLC lifted its position in Paycom Software by 24.8% during the first quarter. Simplicity Wealth LLC now owns 1,425 shares of the software maker’s stock worth $311,000 after purchasing an additional 283 shares during the period. GAMMA Investing LLC lifted its position in Paycom Software by 54.5% during the first quarter. GAMMA Investing LLC now owns 904 shares of the software maker’s stock worth $198,000 after purchasing an additional 319 shares during the period. Finally, Fourpath Capital Management LLC lifted its position in Paycom Software by 1.9% during the first quarter. Fourpath Capital Management LLC now owns 3,798 shares of the software maker’s stock worth $830,000 after purchasing an additional 69 shares during the period. Institutional investors own 87.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on PAYC shares. Stifel Nicolaus upped their price objective on shares of Paycom Software from $187.00 to $215.00 and gave the stock a “hold” rating in a research report on Thursday, May 8th. Wall Street Zen cut shares of Paycom Software from a “buy” rating to a “hold” rating in a research report on Tuesday, March 4th. BMO Capital Markets upped their price objective on shares of Paycom Software from $215.00 to $244.00 and gave the stock a “market perform” rating in a research report on Thursday, May 8th. Barclays upped their price objective on shares of Paycom Software from $221.00 to $240.00 and gave the stock an “equal weight” rating in a research report on Thursday, May 8th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a research report on Thursday, May 8th. Eleven analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Paycom Software currently has an average rating of “Hold” and an average target price of $226.90.

Paycom Software Trading Down 2.6%

Shares of NYSE PAYC opened at $244.25 on Friday. The company has a market cap of $14.13 billion, a price-to-earnings ratio of 27.44, a PEG ratio of 2.40 and a beta of 0.81. Paycom Software, Inc. has a 12 month low of $139.50 and a 12 month high of $267.76. The stock has a 50-day moving average price of $239.35 and a two-hundred day moving average price of $222.90.

Paycom Software (NYSE:PAYC) last released its quarterly earnings data on Wednesday, May 7th. The software maker reported $2.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.62 by $0.18. Paycom Software had a return on equity of 33.53% and a net margin of 26.66%. The company 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 earnings per share. The firm’s revenue was up 6.1% compared to the same quarter last year. On average, sell-side analysts predict that Paycom Software, Inc. will post 7.15 earnings per share for the current year.

Paycom Software Dividend Announcement

The company also recently disclosed 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 annualized dividend and a dividend yield of 0.61%. The ex-dividend date was Tuesday, May 27th. Paycom Software’s dividend payout ratio is currently 21.40%.

Insider Activity

In other Paycom Software news, COO Randall Peck sold 890 shares of the stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $263.21, for a total transaction of $234,256.90. Following the completion of the sale, the chief operating officer now owns 49,394 shares of the company’s stock, valued at approximately $13,000,994.74. This represents a 1.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Chad R. Richison sold 26,426 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $255.52, for a total transaction of $6,752,371.52. Following the sale, the chief executive officer now directly owns 3,277,249 shares of the company’s stock, valued at $837,402,664.48. This represents a 0.80% decrease in their position. The disclosure for this sale can be found here. Insiders sold 170,516 shares of company stock valued at $42,361,668 over the last quarter. 10.90% of the stock is owned by company 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.