Paycom Software, Inc. (NYSE:PAYC) Stock Position Lifted by American Century Companies Inc.

American Century Companies Inc. lifted its holdings in shares of Paycom Software, Inc. (NYSE:PAYC) by 43.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 52,755 shares of the software maker’s stock after buying an additional 15,852 shares during the period. American Century Companies Inc. owned 0.09% of Paycom Software worth $10,813,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Raymond James Financial Inc. bought a new stake in shares of Paycom Software during the fourth quarter valued at approximately $63,923,000. Strategic Financial Concepts LLC bought a new position in Paycom Software in the 4th quarter worth approximately $42,893,000. National Bank of Canada FI increased its position in Paycom Software by 186.5% in the 3rd quarter. National Bank of Canada FI now owns 70,050 shares of the software maker’s stock valued at $11,668,000 after acquiring an additional 45,600 shares during the period. Geode Capital Management LLC raised its stake in Paycom Software by 3.3% during the 3rd quarter. Geode Capital Management LLC now owns 1,426,920 shares of the software maker’s stock valued at $237,015,000 after acquiring an additional 45,404 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in Paycom Software by 14.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 326,018 shares of the software maker’s stock worth $54,305,000 after acquiring an additional 41,187 shares during the period. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PAYC. StockNews.com downgraded shares of Paycom Software from a “buy” rating to a “hold” rating in a report on Tuesday, March 4th. TD Cowen increased their target price on shares of Paycom Software from $193.00 to $248.00 and gave the stock a “hold” rating in a research report on Monday, December 9th. Mizuho boosted their target price on shares of Paycom Software from $190.00 to $210.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. Stifel Nicolaus reduced their price target on shares of Paycom Software from $215.00 to $187.00 and set a “hold” rating for the company in a report on Thursday, February 13th. Finally, JPMorgan Chase & Co. raised their target price on Paycom Software from $185.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Twelve investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $212.80.

Insider Transactions at Paycom Software

In related news, COO Randall Peck sold 3,600 shares of Paycom Software stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $212.19, for a total transaction of $763,884.00. Following the sale, the chief operating officer now directly owns 50,665 shares of the company’s stock, valued at approximately $10,750,606.35. The trade was a 6.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Bradley Scott Smith sold 3,000 shares of the company’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $201.01, for a total value of $603,030.00. Following the completion of the transaction, the insider now directly owns 28,733 shares of the company’s stock, valued at approximately $5,775,620.33. The trade was a 9.45 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,100 shares of company stock worth $1,476,024. Company insiders own 12.60% of the company’s stock.

Paycom Software Stock Performance

Shares of NYSE PAYC opened at $218.58 on Thursday. The firm has a 50 day moving average price of $212.94 and a 200 day moving average price of $204.67. Paycom Software, Inc. has a 52-week low of $139.50 and a 52-week high of $242.74. The stock has a market cap of $12.52 billion, a P/E ratio of 24.56, a P/E/G ratio of 2.40 and a beta of 0.97.

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 return on equity of 33.53% and a net margin of 26.66%. Analysts predict that Paycom Software, Inc. will post 7.15 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 24th. Investors 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 dividend on an annualized basis and a yield of 0.69%. Paycom Software’s dividend payout ratio (DPR) is currently 16.85%.

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.