73,511 Shares in Paycom Software, Inc. $PAYC Purchased by Norges Bank

Norges Bank bought a new stake in Paycom Software, Inc. (NYSE:PAYC) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 73,511 shares of the software maker’s stock, valued at approximately $17,010,000. Norges Bank owned about 0.13% of Paycom Software as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of PAYC. SouthState Corp bought a new stake in shares of Paycom Software in the 1st quarter worth approximately $27,000. S Bank Fund Management Ltd bought a new position in Paycom Software during the first quarter valued at $37,000. Assetmark Inc. increased its position in Paycom Software by 651.9% in the second quarter. Assetmark Inc. now owns 203 shares of the software maker’s stock worth $47,000 after buying an additional 176 shares during the last quarter. Brooklyn Investment Group raised its stake in shares of Paycom Software by 19.4% in the first quarter. Brooklyn Investment Group now owns 240 shares of the software maker’s stock valued at $52,000 after buying an additional 39 shares during the period. Finally, Employees Retirement System of Texas purchased a new position in shares of Paycom Software during the 2nd quarter valued at $55,000. 87.77% of the stock is owned by institutional investors.

Paycom Software Stock Performance

NYSE:PAYC opened at $163.87 on Tuesday. Paycom Software, Inc. has a fifty-two week low of $156.50 and a fifty-two week high of $267.76. The firm has a market cap of $9.22 billion, a PE ratio of 20.38, a price-to-earnings-growth ratio of 1.80 and a beta of 0.84. The business has a 50 day moving average price of $182.09 and a 200-day moving average price of $214.53.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings results on Wednesday, November 5th. The software maker reported $1.94 EPS for the quarter, missing analysts’ consensus estimates of $1.96 by ($0.02). The firm had revenue of $493.30 million for the quarter, compared to the consensus estimate of $492.62 million. Paycom Software had a net margin of 22.65% and a return on equity of 24.79%. The company’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.67 earnings per share. Research analysts predict 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 was paid on Monday, December 8th. Investors of record on Monday, November 24th were paid a $0.375 dividend. The ex-dividend date of this dividend was Monday, November 24th. This represents a $1.50 annualized dividend and a dividend yield of 0.9%. Paycom Software’s dividend payout ratio (DPR) is presently 18.66%.

Insider Transactions at Paycom Software

In related news, insider Bradley Scott Smith sold 1,500 shares of the business’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $223.27, for a total transaction of $334,905.00. Following the transaction, the insider owned 24,533 shares in the company, valued at $5,477,482.91. The trade was a 5.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 10.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on PAYC shares. Guggenheim assumed coverage on Paycom Software in a report on Friday, September 26th. They issued a “buy” rating and a $270.00 price objective for the company. TD Cowen reduced their target price on shares of Paycom Software from $258.00 to $200.00 and set a “buy” rating for the company in a research note on Thursday, November 6th. UBS Group lowered their price target on shares of Paycom Software from $285.00 to $245.00 and set a “buy” rating on the stock in a research report on Thursday, November 6th. Mizuho cut their target price on Paycom Software from $220.00 to $180.00 and set a “neutral” rating for the company in a research note on Thursday, November 6th. Finally, Barclays decreased their price target on Paycom Software from $225.00 to $210.00 and set an “equal weight” rating on the stock in a research report on Thursday, November 6th. Four investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $225.77.

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.