15,291 Shares in Paycom Software, Inc. (NYSE:PAYC) Purchased by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. acquired a new stake in shares of Paycom Software, Inc. (NYSE:PAYC) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 15,291 shares of the software maker’s stock, valued at approximately $3,138,000.

Other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its position in shares of Paycom Software by 14.5% during the third quarter. JPMorgan Chase & Co. now owns 326,018 shares of the software maker’s stock valued at $54,305,000 after buying an additional 41,187 shares during the period. Proficio Capital Partners LLC purchased a new stake in shares of Paycom Software during the fourth quarter valued at approximately $7,142,000. Nordea Investment Management AB boosted its stake in shares of Paycom Software by 3.5% during the fourth quarter. Nordea Investment Management AB now owns 204,377 shares of the software maker’s stock valued at $41,952,000 after purchasing an additional 6,916 shares during the period. Glenview Trust co lifted its stake in Paycom Software by 27.1% in the fourth quarter. Glenview Trust co now owns 12,294 shares of the software maker’s stock worth $2,520,000 after acquiring an additional 2,625 shares during the period. Finally, Friedenthal Financial purchased a new stake in Paycom Software in the fourth quarter worth $776,000. 87.77% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director J C. Watts, Jr. sold 500 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $218.22, for a total transaction of $109,110.00. Following the transaction, the director now owns 7,730 shares of the company’s stock, valued at approximately $1,686,840.60. The trade was a 6.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Bradley Scott Smith sold 3,000 shares of the business’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $201.01, for a total value of $603,030.00. Following the transaction, the insider now 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. In the last three months, insiders have sold 7,100 shares of company stock valued at $1,476,024. Corporate insiders own 14.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on PAYC shares. StockNews.com downgraded Paycom Software from a “buy” rating to a “hold” rating in a report on Tuesday, March 4th. JPMorgan Chase & Co. lifted their price objective on Paycom Software from $185.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Stifel Nicolaus reduced their price objective on Paycom Software from $215.00 to $187.00 and set a “hold” rating for the company in a report on Thursday, February 13th. Barclays dropped their target price on Paycom Software from $229.00 to $221.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 23rd. Finally, Mizuho raised their target price on Paycom Software from $190.00 to $210.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. Twelve research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $212.80.

Paycom Software Stock Up 13.1 %

PAYC stock opened at $218.41 on Thursday. Paycom Software, Inc. has a twelve month low of $139.50 and a twelve month high of $242.74. The stock has a market cap of $12.51 billion, a P/E ratio of 24.54, a PEG ratio of 2.40 and a beta of 0.97. The business’s 50-day moving average price is $212.39 and its 200-day moving average price is $206.07.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings data on Wednesday, February 12th. The software maker reported $2.02 earnings per share 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%. On average, equities research analysts expect that Paycom Software, Inc. will post 7.15 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 10th were issued 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 is presently 16.85%.

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.