Nordea Investment Management AB Raises Position in Paycom Software, Inc. (NYSE:PAYC)

Nordea Investment Management AB grew its stake in Paycom Software, Inc. (NYSE:PAYC) by 3.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 204,377 shares of the software maker’s stock after buying an additional 6,916 shares during the period. Nordea Investment Management AB owned approximately 0.35% of Paycom Software worth $41,952,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Everence Capital Management Inc. bought a new position in Paycom Software in the fourth quarter valued at $314,000. GAMMA Investing LLC increased its position in shares of Paycom Software by 81.1% during the 4th quarter. GAMMA Investing LLC now owns 585 shares of the software maker’s stock valued at $120,000 after purchasing an additional 262 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Paycom Software by 14.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 326,018 shares of the software maker’s stock worth $54,305,000 after buying an additional 41,187 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Paycom Software by 9.3% in the third quarter. Principal Financial Group Inc. now owns 65,809 shares of the software maker’s stock worth $10,962,000 after buying an additional 5,574 shares in the last quarter. Finally, Peapack Gladstone Financial Corp grew its position in Paycom Software by 71.7% during the third quarter. Peapack Gladstone Financial Corp now owns 2,488 shares of the software maker’s stock valued at $414,000 after acquiring an additional 1,039 shares during the last quarter. Institutional investors own 87.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PAYC. Barclays lifted their target price on shares of Paycom Software from $172.00 to $181.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. StockNews.com upgraded Paycom Software from a “hold” rating to a “buy” rating in a report on Monday, December 16th. BMO Capital Markets lifted their price target on Paycom Software from $183.00 to $197.00 and gave the stock a “market perform” rating in a research note on Thursday, October 31st. TD Cowen increased their price objective on Paycom Software from $193.00 to $248.00 and gave the company a “hold” rating in a research note on Monday, December 9th. Finally, Jefferies Financial Group lifted their target price on shares of Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. Eleven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Paycom Software has a consensus rating of “Hold” and an average target price of $202.56.

Insiders Place Their Bets

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $163.77, for a total transaction of $319,351.50. Following the completion of the transaction, the chief executive officer now owns 2,774,310 shares of the company’s stock, valued at approximately $454,348,748.70. This trade represents a 0.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders sold 29,250 shares of company stock worth $5,492,000. 12.60% of the stock is owned by corporate insiders.

Paycom Software Price Performance

Shares of PAYC opened at $202.18 on Wednesday. The company has a 50-day simple moving average of $219.94 and a two-hundred day simple moving average of $181.02. The firm has a market capitalization of $11.66 billion, a PE ratio of 24.33, a price-to-earnings-growth ratio of 3.12 and a beta of 1.14. Paycom Software, Inc. has a one year low of $139.50 and a one year high of $242.74.

Paycom Software Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 9th. Investors of record on Monday, November 25th were given a dividend of $0.375 per share. The ex-dividend date was Monday, November 25th. This represents a $1.50 annualized dividend and a dividend yield of 0.74%. Paycom Software’s dividend payout ratio is presently 18.05%.

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.