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

Ilmarinen Mutual Pension Insurance Co boosted its position in Paycom Software, Inc. (NYSE:PAYC) by 30.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 32,500 shares of the software maker’s stock after acquiring an additional 7,500 shares during the period. Ilmarinen Mutual Pension Insurance Co owned 0.06% of Paycom Software worth $6,662,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Murphy & Mullick Capital Management Corp acquired a new stake in shares of Paycom Software during the 4th quarter worth approximately $30,000. IFP Advisors Inc grew its holdings in Paycom Software by 635.7% during the 4th quarter. IFP Advisors Inc now owns 206 shares of the software maker’s stock worth $43,000 after acquiring an additional 178 shares during the period. Blue Trust Inc. raised its position in shares of Paycom Software by 33.3% during the 4th quarter. Blue Trust Inc. now owns 352 shares of the software maker’s stock valued at $72,000 after acquiring an additional 88 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Paycom Software in the 3rd quarter valued at $79,000. Finally, Huntington National Bank boosted its position in shares of Paycom Software by 46.5% in the 4th quarter. Huntington National Bank now owns 551 shares of the software maker’s stock worth $113,000 after purchasing an additional 175 shares during the last quarter. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Mizuho upped their price objective on Paycom Software from $190.00 to $210.00 and gave the company a “neutral” rating in a report on Friday, December 13th. Citigroup reduced their price objective on shares of Paycom Software from $234.00 to $221.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Needham & Company LLC reaffirmed 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 target on the stock in a research report on Monday, March 10th. Finally, Piper Sandler upped their price objective on shares of Paycom Software from $191.00 to $224.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Twelve equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Paycom Software has a consensus rating of “Hold” and an average price target of $212.80.

Paycom Software Stock Performance

NYSE:PAYC opened at $198.22 on Friday. The stock has a 50-day simple moving average of $212.92 and a 200 day simple moving average of $205.18. Paycom Software, Inc. has a 52-week low of $139.50 and a 52-week high of $242.74. The company has a market cap of $11.35 billion, a PE ratio of 22.27, a PEG ratio of 2.40 and a beta of 0.97.

Paycom Software (NYSE:PAYC) last issued its quarterly earnings results on Wednesday, February 12th. The software maker reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.03. Paycom Software had a net margin of 26.66% and a return on equity of 33.53%. On average, research analysts predict that Paycom Software, Inc. will post 7.15 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

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

Insider Activity

In other news, COO Randall Peck sold 3,600 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $212.19, for a total value of $763,884.00. Following the completion of the sale, the chief operating officer now owns 50,665 shares of the company’s stock, valued at approximately $10,750,606.35. This represents a 6.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director J C. Watts, Jr. sold 500 shares of the business’s stock in a transaction 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 in the company, valued at approximately $1,686,840.60. The trade was a 6.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 7,100 shares of company stock worth $1,476,024 in the last quarter. Corporate insiders own 12.60% of the company’s stock.

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.