Forsta AP Fonden Trims Holdings in Paycom Software, Inc. (NYSE:PAYC)

Forsta AP Fonden decreased its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 19.0% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 9,800 shares of the software maker’s stock after selling 2,300 shares during the period. Forsta AP Fonden’s holdings in Paycom Software were worth $1,402,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Private Advisor Group LLC grew its stake in Paycom Software by 104.9% during the fourth quarter. Private Advisor Group LLC now owns 2,522 shares of the software maker’s stock valued at $521,000 after acquiring an additional 1,291 shares in the last quarter. Principal Securities Inc. purchased a new position in shares of Paycom Software during the 4th quarter valued at $134,000. QRG Capital Management Inc. increased its holdings in shares of Paycom Software by 7.3% in the fourth quarter. QRG Capital Management Inc. now owns 1,964 shares of the software maker’s stock worth $406,000 after purchasing an additional 134 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Paycom Software by 5.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 251,365 shares of the software maker’s stock worth $51,964,000 after buying an additional 13,147 shares in the last quarter. Finally, Avantax Advisory Services Inc. boosted its stake in Paycom Software by 5.9% during the fourth quarter. Avantax Advisory Services Inc. now owns 1,939 shares of the software maker’s stock valued at $401,000 after buying an additional 108 shares during the period. Institutional investors own 87.77% of the company’s stock.

Paycom Software Stock Performance

Shares of Paycom Software stock opened at $169.12 on Tuesday. Paycom Software, Inc. has a 52-week low of $139.50 and a 52-week high of $279.96. The company’s 50 day moving average price is $159.90 and its 200-day moving average price is $168.40. The stock has a market capitalization of $9.83 billion, a price-to-earnings ratio of 20.60, a P/E/G ratio of 2.37 and a beta of 1.17.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings results on Wednesday, July 31st. The software maker reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.07. The business had revenue of $437.51 million for the quarter, compared to analyst estimates of $436.19 million. Paycom Software had a net margin of 26.55% and a return on equity of 33.36%. As a group, equities research analysts forecast that Paycom Software, Inc. will post 6.67 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 9th. Shareholders of record on Monday, August 26th were given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend was Monday, August 26th. Paycom Software’s payout ratio is 18.27%.

Analysts Set New Price Targets

A number of research firms have commented on PAYC. TD Cowen boosted their price target on shares of Paycom Software from $147.00 to $171.00 and gave the stock a “hold” rating in a research note on Thursday, August 1st. Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a research note on Thursday, August 1st. Citigroup dropped their price target on Paycom Software from $193.00 to $162.00 and set a “neutral” rating for the company in a research note on Tuesday, June 18th. Jefferies Financial Group reduced their price objective on Paycom Software from $170.00 to $145.00 and set a “hold” rating on the stock in a research report on Monday, June 24th. Finally, Barclays boosted their target price on Paycom Software from $161.00 to $167.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Seventeen equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Paycom Software has a consensus rating of “Hold” and a consensus price target of $178.33.

Insiders Place Their Bets

In other news, CFO Craig E. Boelte sold 11,882 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $155.98, for a total transaction of $1,853,354.36. Following the transaction, the chief financial officer now directly owns 294,849 shares of the company’s stock, valued at $45,990,547.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $145.48, for a total transaction of $283,686.00. Following the sale, the chief executive officer now directly owns 3,045,158 shares of the company’s stock, valued at approximately $443,009,585.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Craig E. Boelte sold 11,882 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $155.98, for a total value of $1,853,354.36. Following the transaction, the chief financial officer now owns 294,849 shares in the company, valued at approximately $45,990,547.02. The disclosure for this sale can be found here. In the last 90 days, insiders sold 71,906 shares of company stock worth $11,149,367. 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.