Arrowstreet Capital Limited Partnership Grows Holdings in Paycom Software, Inc. (NYSE:PAYC)

Arrowstreet Capital Limited Partnership boosted its holdings in shares of Paycom Software, Inc. (NYSE:PAYC) by 1,153.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 401,889 shares of the software maker’s stock after purchasing an additional 369,825 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Paycom Software were worth $82,375,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. FMR LLC grew its holdings in shares of Paycom Software by 55.0% during the third 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 during the last quarter. Raymond James Financial Inc. acquired a new stake in Paycom Software during the 4th quarter worth approximately $63,923,000. Strategic Financial Concepts LLC purchased a new position in shares of Paycom Software in the 4th quarter valued at approximately $42,893,000. Aureus Asset Management LLC increased its holdings in shares of Paycom Software by 417.8% in the third quarter. Aureus Asset Management LLC now owns 133,214 shares of the software maker’s stock valued at $22,189,000 after purchasing an additional 107,487 shares during the period. Finally, Norges Bank purchased a new stake in shares of Paycom Software during the fourth quarter worth approximately $21,510,000. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Paycom Software Stock Up 0.0 %

Shares of NYSE:PAYC opened at $218.82 on Tuesday. The company has a market capitalization of $12.53 billion, a P/E ratio of 24.59, a P/E/G ratio of 2.40 and a beta of 1.14. Paycom Software, Inc. has a 52-week low of $139.50 and a 52-week high of $242.74. The stock’s fifty day simple moving average is $212.49 and its 200-day simple moving average is $204.21.

Paycom Software (NYSE:PAYC) last released 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 net margin of 26.66% and a return on equity of 33.53%. On average, sell-side analysts anticipate that Paycom Software, Inc. will post 7.15 earnings per share for the current year.

Paycom Software Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were paid a $0.375 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.50 annualized dividend and a yield of 0.69%. Paycom Software’s payout ratio is currently 16.85%.

Analyst Ratings Changes

Several equities analysts have issued reports on PAYC shares. KeyCorp raised shares of Paycom Software from a “sector weight” rating to an “overweight” rating and set a $245.00 price objective on the stock in a research note on Monday, March 10th. Barclays cut their target price on Paycom Software from $229.00 to $221.00 and set an “equal weight” rating for the company in a research note on Thursday, January 23rd. Citigroup decreased their price target on Paycom Software from $234.00 to $221.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. JPMorgan Chase & Co. increased their price objective on Paycom Software from $185.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Finally, Mizuho boosted their price objective on shares of Paycom Software from $190.00 to $210.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Twelve investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $212.80.

Insider Buying and Selling at Paycom Software

In related news, Director J C. Watts, Jr. sold 500 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $218.22, for a total value of $109,110.00. Following the completion of the sale, the director now directly owns 7,730 shares in the company, valued at approximately $1,686,840.60. The trade was a 6.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Randall Peck sold 3,600 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $212.19, for a total transaction of $763,884.00. Following the transaction, the chief operating officer now directly owns 50,665 shares in the company, valued at approximately $10,750,606.35. This represents a 6.63 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 7,100 shares of company stock worth $1,476,024. Insiders own 14.50% of the company’s stock.

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.