Ilmarinen Mutual Pension Insurance Co Has $6.66 Million Stock Holdings in Paycom Software, Inc. (NYSE:PAYC)

Ilmarinen Mutual Pension Insurance Co raised its stake in Paycom Software, Inc. (NYSE:PAYC) by 30.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 32,500 shares of the software maker’s stock after buying an additional 7,500 shares during the period. Ilmarinen Mutual Pension Insurance Co’s holdings in Paycom Software were worth $6,662,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its stake in Paycom Software by 14.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 326,018 shares of the software maker’s stock valued at $54,305,000 after purchasing an additional 41,187 shares during the period. Proficio Capital Partners LLC acquired a new stake in shares of Paycom Software during the fourth quarter worth $7,142,000. Nordea Investment Management AB boosted its position in shares of Paycom Software by 3.5% in the fourth quarter. Nordea Investment Management AB now owns 204,377 shares of the software maker’s stock valued at $41,952,000 after acquiring an additional 6,916 shares during the period. Glenview Trust co grew its stake in shares of Paycom Software by 27.1% in the fourth quarter. Glenview Trust co now owns 12,294 shares of the software maker’s stock valued at $2,520,000 after acquiring an additional 2,625 shares in the last quarter. Finally, Friedenthal Financial bought a new position in Paycom Software during the fourth quarter worth about $776,000. Institutional investors and hedge funds own 87.77% of the company’s stock.

Paycom Software Price Performance

PAYC stock opened at $198.22 on Friday. Paycom Software, Inc. has a 1 year low of $139.50 and a 1 year high of $242.74. The stock has a market cap of $11.35 billion, a price-to-earnings ratio of 22.27, a P/E/G ratio of 2.40 and a beta of 0.97. The company has a 50 day simple moving average of $212.92 and a 200 day simple moving average of $205.18.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings results 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 return on equity of 33.53% and a net margin of 26.66%. On average, equities research analysts anticipate that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Stockholders of record on Monday, March 10th were paid a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 0.76%. The ex-dividend date of this dividend was Monday, March 10th. Paycom Software’s dividend payout ratio is currently 16.85%.

Insider Activity

In other news, Director J C. Watts, Jr. sold 500 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $218.22, for a total value of $109,110.00. Following the completion of the sale, the director now owns 7,730 shares of the company’s stock, valued at approximately $1,686,840.60. This represents a 6.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Bradley Scott Smith sold 3,000 shares of the firm’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 transaction, the insider now owns 28,733 shares of the company’s stock, valued at $5,775,620.33. This trade represents a 9.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,100 shares of company stock valued at $1,476,024 over the last quarter. 12.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts have issued reports on PAYC shares. Piper Sandler boosted their price objective on shares of Paycom Software from $191.00 to $224.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Citigroup reduced their price target on Paycom Software from $234.00 to $221.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. TD Cowen lifted their price objective on Paycom Software from $193.00 to $248.00 and gave the company a “hold” rating in a report on Monday, December 9th. Stifel Nicolaus reduced their target price on Paycom Software from $215.00 to $187.00 and set a “hold” rating on the stock in a report on Thursday, February 13th. Finally, JPMorgan Chase & Co. boosted their price target on Paycom Software from $185.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Twelve equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Paycom Software has a consensus 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.