Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 38.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,516 shares of the software maker's stock after purchasing an additional 1,797 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Paycom Software were worth $1,336,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of PAYC. Armstrong Advisory Group Inc. purchased a new stake in Paycom Software in the third quarter worth about $26,000. Brooklyn Investment Group bought a new stake in shares of Paycom Software during the third quarter valued at approximately $28,000. Pin Oak Investment Advisors Inc. increased its position in shares of Paycom Software by 73.3% during the third quarter. Pin Oak Investment Advisors Inc. now owns 182 shares of the software maker's stock valued at $30,000 after acquiring an additional 77 shares in the last quarter. First Horizon Advisors Inc. increased its position in shares of Paycom Software by 821.7% during the third quarter. First Horizon Advisors Inc. now owns 212 shares of the software maker's stock valued at $35,000 after acquiring an additional 189 shares in the last quarter. Finally, Blue Trust Inc. grew 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. 87.77% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of research analysts recently weighed in on the stock. Citigroup lowered their target price 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 restated a "hold" rating on shares of Paycom Software in a research note on Thursday. JPMorgan Chase & Co. lifted their price target on shares of Paycom Software from $185.00 to $200.00 and gave the company a "neutral" rating in a report on Thursday. Jefferies Financial Group lifted their price target on shares of Paycom Software from $170.00 to $175.00 and gave the company a "hold" rating in a report on Thursday, October 31st. Finally, StockNews.com upgraded shares of Paycom Software from a "hold" rating to a "buy" rating in a report on Friday, January 31st. Eleven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $209.22.
Read Our Latest Analysis on PAYC
Paycom Software Price Performance
Shares of Paycom Software stock traded down $2.26 during trading hours on Friday, reaching $209.72. The company's stock had a trading volume of 900,247 shares, compared to its average volume of 454,779. The firm has a 50 day moving average price of $210.30 and a 200-day moving average price of $192.02. Paycom Software, Inc. has a one year low of $139.50 and a one year high of $242.74. The stock has a market cap of $12.09 billion, a P/E ratio of 25.24, a P/E/G ratio of 2.81 and a beta of 1.15.
Paycom Software (NYSE:PAYC - Get Free Report) last posted its earnings results on Wednesday, February 12th. The software maker reported $2.02 earnings per share for the quarter, topping analysts' consensus estimates of $1.99 by $0.03. Paycom Software had a net margin of 25.78% and a return on equity of 32.90%. As a group, sell-side analysts forecast that Paycom Software, Inc. will post 6.88 EPS for the current fiscal year.
Paycom Software Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 10th will be issued a $0.375 dividend. The ex-dividend date is Monday, March 10th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.72%. Paycom Software's dividend payout ratio (DPR) is presently 18.05%.
About Paycom Software
(
Free Report)
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.
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