Polen Capital Management LLC Sells 339,236 Shares of Paycom Software, Inc. (NYSE:PAYC)

Polen Capital Management LLC lessened its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 9.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,171,660 shares of the software maker’s stock after selling 339,236 shares during the quarter. Paycom Software makes up 1.8% of Polen Capital Management LLC’s holdings, making the stock its 20th biggest holding. Polen Capital Management LLC owned approximately 5.50% of Paycom Software worth $650,095,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PAYC. Principal Financial Group Inc. grew its stake in shares of Paycom Software by 9.3% in the third quarter. Principal Financial Group Inc. now owns 65,809 shares of the software maker’s stock worth $10,962,000 after purchasing an additional 5,574 shares during the last quarter. KBC Group NV grew its stake in shares of Paycom Software by 219.9% in the third quarter. KBC Group NV now owns 18,733 shares of the software maker’s stock worth $3,120,000 after purchasing an additional 12,877 shares during the last quarter. CIBC Asset Management Inc grew its stake in shares of Paycom Software by 9.2% in the third quarter. CIBC Asset Management Inc now owns 7,378 shares of the software maker’s stock worth $1,229,000 after purchasing an additional 621 shares during the last quarter. Empowered Funds LLC grew its stake in shares of Paycom Software by 20.6% in the third quarter. Empowered Funds LLC now owns 2,522 shares of the software maker’s stock worth $420,000 after purchasing an additional 430 shares during the last quarter. Finally, Mizuho Securities USA LLC grew its stake in shares of Paycom Software by 1,685.9% in the third quarter. Mizuho Securities USA LLC now owns 66,293 shares of the software maker’s stock worth $11,042,000 after purchasing an additional 62,581 shares during the last quarter. Institutional investors own 87.77% of the company’s stock.

Paycom Software Trading Up 2.6 %

Shares of NYSE PAYC opened at $208.08 on Monday. The firm’s 50-day moving average price is $209.04 and its 200-day moving average price is $199.78. Paycom Software, Inc. has a 1-year low of $139.50 and a 1-year high of $242.74. The firm has a market capitalization of $11.92 billion, a P/E ratio of 23.38, a P/E/G ratio of 2.40 and a beta of 1.14.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings data on Wednesday, February 12th. The software maker reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.99 by $0.03. Paycom Software had a net margin of 26.66% and a return on equity of 33.53%. Equities research analysts forecast that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 10th will be issued a $0.375 dividend. The ex-dividend date is Monday, March 10th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.72%. Paycom Software’s dividend payout ratio is presently 16.85%.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Piper Sandler boosted their price objective on shares of Paycom Software from $191.00 to $224.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a research note on Thursday, February 13th. StockNews.com cut shares of Paycom Software from a “buy” rating to a “hold” rating in a research note on Tuesday, March 4th. Barclays cut their price target on shares of Paycom Software from $229.00 to $221.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 23rd. Finally, Citigroup cut 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. 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.com, Paycom Software presently has a consensus rating of “Hold” and an average target price of $212.80.

Insider Buying and Selling

In other Paycom Software news, COO Randall Peck sold 3,600 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $212.19, for a total value of $763,884.00. Following the completion of the sale, the chief operating officer now owns 50,665 shares in the company, valued at approximately $10,750,606.35. This trade represents a 6.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director J C. Watts, Jr. sold 500 shares of the stock in a transaction dated 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 sale, the director now owns 7,730 shares of the company’s stock, valued at approximately $1,686,840.60. This trade represents a 6.08 % decrease in their position. The disclosure for this sale can be found here. 14.50% of the stock is currently owned by company 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.