Nordea Investment Management AB Raises Stock Position in Paycom Software, Inc. (NYSE:PAYC)

Nordea Investment Management AB grew its holdings in Paycom Software, Inc. (NYSE:PAYC) by 3.5% during the 4th quarter, Holdings Channel.com reports. The fund owned 204,377 shares of the software maker’s stock after acquiring an additional 6,916 shares during the period. Nordea Investment Management AB’s holdings in Paycom Software were worth $41,952,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Sylebra Capital LLC increased its stake in Paycom Software by 0.3% in the 3rd quarter. Sylebra Capital LLC now owns 1,962,468 shares of the software maker’s stock worth $326,888,000 after acquiring an additional 5,000 shares during the last quarter. Geode Capital Management LLC lifted its position in Paycom Software by 3.3% during the third quarter. Geode Capital Management LLC now owns 1,426,920 shares of the software maker’s stock valued at $237,015,000 after purchasing an additional 45,404 shares during the last quarter. FMR LLC grew its stake in shares of Paycom Software by 55.0% in the 3rd quarter. FMR LLC now owns 1,007,919 shares of the software maker’s stock worth $167,889,000 after buying an additional 357,723 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of Paycom Software by 1.0% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 627,510 shares of the software maker’s stock valued at $104,524,000 after acquiring an additional 6,488 shares during the last quarter. Finally, Federated Hermes Inc. raised its position in Paycom Software by 1,011.2% during the second quarter. Federated Hermes Inc. now owns 581,964 shares of the software maker’s stock valued at $83,244,000 after purchasing an additional 529,591 shares during the period. Institutional investors own 87.77% of the company’s stock.

Paycom Software Stock Down 2.3 %

NYSE:PAYC opened at $202.18 on Wednesday. Paycom Software, Inc. has a 52 week low of $139.50 and a 52 week high of $242.74. The stock’s fifty day moving average is $219.94 and its two-hundred day moving average is $181.02. The company has a market capitalization of $11.66 billion, a P/E ratio of 24.33, a P/E/G ratio of 3.12 and a beta of 1.14.

Paycom Software Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Monday, November 25th were paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 0.74%. The ex-dividend date of this dividend was Monday, November 25th. Paycom Software’s payout ratio is 18.05%.

Insiders Place Their Bets

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $163.77, for a total value of $319,351.50. Following the sale, the chief executive officer now owns 2,774,310 shares of the company’s stock, valued at $454,348,748.70. This trade represents a 0.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold 29,250 shares of company stock worth $5,492,000 over the last three months. Company insiders own 12.60% of the company’s stock.

Analysts Set New Price Targets

PAYC has been the topic of several analyst reports. StockNews.com raised Paycom Software from a “hold” rating to a “buy” rating in a research report on Monday, December 16th. Barclays lifted their price target on shares of Paycom Software from $172.00 to $181.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. Jefferies Financial Group increased their price objective on shares of Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a research report on Thursday, October 31st. Mizuho boosted their target price on Paycom Software from $190.00 to $210.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Finally, Citigroup increased their price target on Paycom Software from $172.00 to $196.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Eleven research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $202.56.

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.