[SCHEDULE 13G/A] PAYCOM SOFTWARE, INC. SEC Filing

Rhea-AI Filing Summary

Polen Capital Management, LLC filed Amendment No. 1 to Schedule 13G for Paycom Software, Inc. (PAYC) covering the 06/30/2025 event date.

The investment adviser now reports 2,846,113 PAYC common shares, equal to 4.92 % of the 57,819,755 shares outstanding as of 04/29/2025. Polen holds sole voting and sole dispositive power over the entire position; no shared voting or dispositive power exists.

Because ownership has fallen to 5 % or less (Item 5), the filing affirms passive status under Rule 13d-1(b). Management certifies the shares were acquired in the ordinary course of business and not to influence control. No group, subsidiary, or additional reporting persons are involved, and no control-related intentions are disclosed.

The amendment indicates that while Polen remains a significant institutional holder, its stake has slipped below the statutory threshold that would otherwise require a Schedule 13D or activism-oriented disclosures.

Positive

• Polen Capital still holds 2.85 million PAYC shares, signalling continued institutional commitment.
• Filing confirms passive investment intent, reducing concerns about activist intervention or control challenges.

Negative

• Ownership percentage declined below 5 %, implying recent sales or dilution that modestly reduce institutional support.
• Loss of 5 % holder status means less frequent future disclosures, offering investors decreased visibility into Polen’s trading activity.

Insights

Portfolio Manager

TL;DR: Polen’s PAYC stake falls to 4.9 %; still sizable but below 5 % reporting threshold—neutral valuation impact.

Polen Capital still owns nearly 2.85 million shares, yet its percentage dipped under 5 %, triggering Item 5 disclosure. The firm retains full voting and dispositive control, implying holdings are discretionary, not strategic. Crossing below 5 % marginally reduces concentration risk for other investors but does not materially change Paycom’s ownership profile. No valuation catalysts or activist signals are present, so trading impact should be limited.

Corporate Governance Expert

TL;DR: Filing shows passive intent; governance implications minimal as Polen remains non-controlling.

Schedule 13G/A confirms Polen is an investment adviser acting in the ordinary course, with no group formation or control ambitions. The ownership decline to 4.92 % means Polen is no longer a 5 % statutory holder, slightly lowering its disclosure obligations. Board dynamics, takeover defenses, and proxy considerations remain unchanged. Overall governance impact is negligible; the update is largely administrative.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

Paycom Software, Inc.

(Name of Issuer)

Common Stock, $0.01 par value

(Title of Class of Securities)

70432V102

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 70432V102

1

Names of Reporting Persons

Polen Capital Management, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 2,846,113.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 2,846,113.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,846,113.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

4.92 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Paycom Software, Inc.
(b)	Address of issuer's principal executive offices: 7501 W. Memorial Road, Oklahoma City, Oklahoma 73142
Item 2.
(a)	Name of person filing: Polen Capital Management, LLC
(b)	Address or principal business office or, if none, residence: 1825 NW Corporate Blvd., Suite 300, Boca Raton, FL 33431
(c)	Citizenship: Delaware limited liability company
(d)	Title of class of securities: Common Stock, $0.01 par value
(e)	CUSIP No.: 70432V102
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 2,846,113
(b)	Percent of class: 4.92%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 2,846,113
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 2,846,113
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Polen Capital Management, LLC

Signature:	/s/ Lauren Walsh
Name/Title:	Lauren Walsh | Chief Compliance Officer
Date:	07/24/2025

Exhibit Information

Item 4: The percentage of Common Stock beneficially owned by the Reporting Person is determined based on 57,819,755 shares of Common Stock outstanding as of April 29, 2025, according to the issuer's Form 10-Q filed with the commission on May 8, 2025.

FAQ

How many Paycom (PAYC) shares does Polen Capital own?

Polen Capital reports 2,846,113 common shares of PAYC.

What percentage of Paycom’s outstanding shares does this represent?

The position equals 4.92 % of 57,819,755 shares outstanding as of 04/29/2025.

Does Polen Capital have any shared voting or dispositive power?

No. The firm has sole voting and sole dispositive power; shared power is 0.

Why was Amendment No. 1 to Schedule 13G filed?

Because Polen’s ownership fell to 5 % or less, prompting an updated passive ownership filing.

Is Polen Capital seeking control of Paycom?

The certification states the shares were acquired in the ordinary course of business and not to influence control.

What is the CUSIP number for Paycom common stock?

Paycom’s CUSIP is 70432V102.