Korea Investment CORP Has $6.84 Million Holdings in Paycom Software, Inc. (NYSE:PAYC)

Korea Investment CORP lessened its holdings in Paycom Software, Inc. (NYSE:PAYC) by 37.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 33,348 shares of the software maker’s stock after selling 20,358 shares during the period. Korea Investment CORP’s holdings in Paycom Software were worth $6,835,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Sylebra Capital LLC lifted its position in Paycom Software by 0.3% during the 3rd quarter. Sylebra Capital LLC now owns 1,962,468 shares of the software maker’s stock worth $326,888,000 after buying an additional 5,000 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Paycom Software by 3.3% in the third 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 during the last quarter. FMR LLC raised its holdings in 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 acquiring an additional 357,723 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in 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 valued at $102,090,000 after purchasing an additional 11,611 shares during the last quarter. Finally, Boston Trust Walden Corp grew its stake 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 in the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Paycom Software Price Performance

PAYC stock opened at $218.82 on Tuesday. Paycom Software, Inc. has a fifty-two week low of $139.50 and a fifty-two week high of $242.74. The stock has a market capitalization of $12.53 billion, a price-to-earnings ratio of 24.59, a PEG ratio of 2.40 and a beta of 1.14. The business’s fifty day moving average price is $212.49 and its two-hundred day moving average price is $204.21.

Paycom Software (NYSE:PAYC) last released its quarterly earnings results on Wednesday, February 12th. The software maker reported $2.02 EPS for the quarter, topping 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%. Research analysts expect that Paycom Software, Inc. will post 7.15 EPS for the current 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. This represents a $1.50 annualized dividend and a dividend yield of 0.69%. The ex-dividend date was Monday, March 10th. Paycom Software’s dividend payout ratio (DPR) is currently 16.85%.

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 shares were sold at an average price of $218.22, for a total value of $109,110.00. Following the completion of the transaction, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Bradley Scott Smith sold 3,000 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $201.01, for a total transaction of $603,030.00. Following the sale, the insider now owns 28,733 shares in the company, valued at $5,775,620.33. This represents a 9.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 7,100 shares of company stock valued at $1,476,024 over the last 90 days. 14.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

PAYC has been the topic of several analyst reports. TD Cowen upped their price target 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. Barclays dropped their target price on shares of Paycom Software from $229.00 to $221.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Piper Sandler lifted their price target on Paycom Software from $191.00 to $224.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a research note on Thursday, February 13th. Finally, Mizuho lifted their target price on Paycom Software from $190.00 to $210.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. Twelve research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price 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.