Paycom Software, Inc. (NYSE:PAYC) Shares Purchased by Alberta Investment Management Corp

Alberta Investment Management Corp raised its stake in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 24.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,320 shares of the software maker's stock after purchasing an additional 4,720 shares during the period. Alberta Investment Management Corp's holdings in Paycom Software were worth $4,985,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in PAYC. Brooklyn Investment Group purchased a new stake in shares of Paycom Software during the 3rd quarter valued at about $28,000. Pin Oak Investment Advisors Inc. raised its position in Paycom Software by 73.3% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 182 shares of the software maker's stock worth $30,000 after purchasing an additional 77 shares during the period. First Horizon Advisors Inc. raised its position in Paycom Software by 821.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 212 shares of the software maker's stock worth $35,000 after purchasing an additional 189 shares during the period. Blue Trust Inc. raised its position in Paycom Software by 277.1% in the 3rd quarter. Blue Trust Inc. now owns 264 shares of the software maker's stock worth $44,000 after purchasing an additional 194 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Paycom Software in the 3rd quarter worth about $79,000. Institutional investors own 87.77% of the company's stock.

Analyst Ratings Changes

PAYC has been the topic of a number of recent analyst reports. 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 report on Thursday, January 16th. Needham & Company LLC reaffirmed a "hold" rating on shares of Paycom Software in a research report on Thursday, February 13th. TD Cowen raised their target price 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. Stifel Nicolaus dropped their price objective on shares of Paycom Software from $215.00 to $187.00 and set a "hold" rating on the stock in a research note on Thursday, February 13th. Finally, Mizuho raised their target price on shares of Paycom Software from $190.00 to $210.00 and gave the company a "neutral" rating in a research note on Friday, December 13th. Eleven analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $209.22.

Paycom Software Trading Down 0.8 %

PAYC traded down $1.74 on Friday, reaching $212.66. The stock had a trading volume of 239,026 shares, compared to its average volume of 535,985. Paycom Software, Inc. has a 12-month low of $139.50 and a 12-month high of $242.74. The business's 50-day moving average price is $208.35 and its two-hundred day moving average price is $193.15. The company has a market cap of $12.26 billion, a P/E ratio of 23.90, a price-to-earnings-growth ratio of 2.42 and a beta of 1.15.

Paycom Software (NYSE:PAYC - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The software maker reported $2.02 earnings per share for the quarter, beating 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%. As a group, analysts predict that Paycom Software, Inc. will post 7.15 earnings per share for the current year.

Paycom Software Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 10th will be paid a dividend of $0.375 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.50 annualized dividend and a yield of 0.71%. Paycom Software's dividend payout ratio is presently 16.85%.

About Paycom Software

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.