Mitsubishi UFJ Asset Management Co. Ltd. Raises Position in Paycom Software, Inc. (NYSE:PAYC)

Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 20.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 83,554 shares of the software maker's stock after buying an additional 14,033 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.14% of Paycom Software worth $17,033,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in PAYC. Sylebra Capital LLC increased its position in shares of Paycom Software by 0.3% during the third quarter. Sylebra Capital LLC now owns 1,962,468 shares of the software maker's stock worth $326,888,000 after buying an additional 5,000 shares during the period. Geode Capital Management LLC boosted its position in Paycom Software by 3.3% during the third quarter. Geode Capital Management LLC now owns 1,426,920 shares of the software maker's stock valued at $237,015,000 after acquiring an additional 45,404 shares during the last quarter. FMR LLC grew its holdings in Paycom Software by 55.0% during the 3rd quarter. FMR LLC now owns 1,007,919 shares of the software maker's stock worth $167,889,000 after acquiring an additional 357,723 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Paycom Software by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 498,073 shares of the software maker's stock worth $102,090,000 after acquiring an additional 11,611 shares in the last quarter. Finally, Boston Trust Walden Corp raised its position in shares of Paycom Software by 3.3% in the 4th quarter. Boston Trust Walden Corp now owns 359,695 shares of the software maker's stock worth $73,727,000 after acquiring an additional 11,595 shares in the last quarter. Institutional investors own 87.77% of the company's stock.

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Analyst Upgrades and Downgrades

PAYC has been the subject of several recent analyst reports. Citigroup decreased their target price on Paycom Software from $234.00 to $221.00 and set a "neutral" rating for the company in a research note on Thursday, January 16th. Barclays reduced their price objective on shares of Paycom Software from $229.00 to $221.00 and set an "equal weight" rating for the company in a research report on Thursday, January 23rd. TD Cowen boosted their target price on shares of Paycom Software from $193.00 to $248.00 and gave the company a "hold" rating in a research report on Monday, December 9th. Needham & Company LLC restated a "hold" rating on shares of Paycom Software in a report on Thursday, February 13th. Finally, KeyCorp raised shares of Paycom Software from a "sector weight" rating to an "overweight" rating and set a $245.00 price target for the company in a research note on Monday, March 10th. Twelve analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $212.80.

Paycom Software Price Performance

Shares of NYSE PAYC traded down $3.33 during mid-day trading on Thursday, reaching $215.15. 411,755 shares of the company's stock traded hands, compared to its average volume of 719,664. The business has a 50-day simple moving average of $212.94 and a 200 day simple moving average of $204.67. The stock has a market cap of $12.32 billion, a P/E ratio of 24.17, a PEG ratio of 2.40 and a beta of 0.97. Paycom Software, Inc. has a 1-year low of $139.50 and a 1-year high of $242.74.

Paycom Software (NYSE:PAYC - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The software maker reported $2.02 earnings per share (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%. Equities research analysts anticipate that Paycom Software, Inc. will post 7.15 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 10th were given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date of this dividend was Monday, March 10th. Paycom Software's payout ratio is currently 16.85%.

Insider Buying and Selling at Paycom Software

In related news, Director J C. Watts, Jr. sold 500 shares of Paycom Software 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 sale, the director now directly owns 7,730 shares in the company, valued at approximately $1,686,840.60. This trade represents a 6.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Randall Peck sold 3,600 shares of the company's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $212.19, for a total value of $763,884.00. Following the completion of the transaction, the chief operating officer now owns 50,665 shares of the company's stock, valued at $10,750,606.35. This trade represents a 6.63 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 7,100 shares of company stock worth $1,476,024. Corporate insiders own 12.60% of the company's stock.

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.