Pilgrim Partners Asia Pte Ltd Buys Shares of 3,600 Paycom Software, Inc. (NYSE:PAYC)

Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Paycom Software, Inc. (NYSE:PAYC) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 3,600 shares of the software maker’s stock, valued at approximately $738,000. Paycom Software comprises 0.6% of Pilgrim Partners Asia Pte Ltd’s portfolio, making the stock its 26th largest position.

A number of other institutional investors have also made changes to their positions in the stock. Sylebra Capital LLC increased its stake in Paycom Software by 0.3% during the third quarter. Sylebra Capital LLC now owns 1,962,468 shares of the software maker’s stock worth $326,888,000 after purchasing an additional 5,000 shares during the period. Geode Capital Management LLC boosted its position in Paycom Software by 6.3% in the 4th quarter. Geode Capital Management LLC now owns 1,516,768 shares of the software maker’s stock valued at $310,245,000 after buying an additional 89,848 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Paycom Software by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 498,073 shares of the software maker’s stock worth $102,090,000 after acquiring an additional 11,611 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in shares of Paycom Software by 1,153.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 401,889 shares of the software maker’s stock valued at $82,375,000 after acquiring an additional 369,825 shares in the last quarter. Finally, Boston Trust Walden Corp boosted its holdings in Paycom Software by 3.3% in the fourth quarter. Boston Trust Walden Corp now owns 359,695 shares of the software maker’s stock valued at $73,727,000 after purchasing an additional 11,595 shares during the period. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Paycom Software Price Performance

Shares of Paycom Software stock opened at $198.22 on Friday. The firm’s fifty day simple moving average is $212.92 and its 200-day simple moving average is $204.93. Paycom Software, Inc. has a 12 month low of $139.50 and a 12 month high of $242.74. The stock has a market capitalization of $11.35 billion, a price-to-earnings ratio of 22.27, a PEG ratio of 2.40 and a beta of 0.97.

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

Paycom Software Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 10th were paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend was Monday, March 10th. Paycom Software’s dividend payout ratio (DPR) is presently 16.85%.

Insider Buying and Selling

In related news, insider Bradley Scott Smith sold 3,000 shares of the firm’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $201.01, for a total value of $603,030.00. Following the completion of the sale, the insider now owns 28,733 shares in the company, valued at $5,775,620.33. This trade represents a 9.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 value of $109,110.00. Following the transaction, the director now owns 7,730 shares in the company, valued at $1,686,840.60. The trade was a 6.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 7,100 shares of company stock valued at $1,476,024 over the last three months. 12.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have issued reports on PAYC. Barclays reduced their price target 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. Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a research note on Thursday, February 13th. 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 report on Monday, March 10th. StockNews.com cut shares of Paycom Software from a “buy” rating to a “hold” rating in a research report on Tuesday, March 4th. Finally, Citigroup dropped their target price on Paycom Software from $234.00 to $221.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Twelve research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $212.80.

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.