Paycom Software, Inc. (NYSE:PAYC) Stake Lessened by IFM Investors Pty Ltd

IFM Investors Pty Ltd lessened its holdings in Paycom Software, Inc. (NYSE:PAYC) by 1.8% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 11,940 shares of the software maker’s stock after selling 219 shares during the quarter. IFM Investors Pty Ltd’s holdings in Paycom Software were worth $2,376,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Mather Group LLC. purchased a new position in Paycom Software in the first quarter valued at about $26,000. Hexagon Capital Partners LLC grew its stake in shares of Paycom Software by 333.3% in the 4th quarter. Hexagon Capital Partners LLC now owns 130 shares of the software maker’s stock valued at $27,000 after buying an additional 100 shares in the last quarter. Cary Street Partners Investment Advisory LLC increased its holdings in Paycom Software by 83.5% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 156 shares of the software maker’s stock worth $40,000 after buying an additional 71 shares during the last quarter. Transcendent Capital Group LLC bought a new position in Paycom Software during the fourth quarter valued at approximately $41,000. Finally, GAMMA Investing LLC acquired a new stake in Paycom Software in the fourth quarter valued at approximately $49,000. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Paycom Software Stock Up 1.2 %

NYSE:PAYC traded up $2.31 on Friday, reaching $188.89. The stock had a trading volume of 674,972 shares, compared to its average volume of 700,485. The company has a market capitalization of $10.87 billion, a P/E ratio of 32.02, a price-to-earnings-growth ratio of 3.18 and a beta of 1.17. Paycom Software, Inc. has a 1-year low of $146.15 and a 1-year high of $374.04. The stock has a fifty day moving average price of $189.82 and a 200-day moving average price of $197.60.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings data on Wednesday, February 7th. The software maker reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.15. Paycom Software had a return on equity of 24.60% and a net margin of 20.12%. The company had revenue of $434.60 million for the quarter, compared to analyst estimates of $422.50 million. During the same quarter in the previous year, the firm earned $1.38 earnings per share. The business’s revenue was up 17.3% on a year-over-year basis. Sell-side analysts predict that Paycom Software, Inc. will post 5.73 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 18th. Investors of record on Monday, March 4th were issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date of this dividend was Friday, March 1st. Paycom Software’s dividend payout ratio is currently 25.42%.

Analyst Ratings Changes

A number of research firms have recently weighed in on PAYC. BTIG Research initiated coverage on shares of Paycom Software in a report on Tuesday, February 6th. They set a “neutral” rating on the stock. UBS Group boosted their price target on Paycom Software from $235.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, January 10th. Jefferies Financial Group reissued a “hold” rating and set a $195.00 price objective on shares of Paycom Software in a report on Friday, January 5th. Piper Sandler boosted their target price on Paycom Software from $185.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, February 8th. Finally, Citigroup lowered their price target on Paycom Software from $205.00 to $198.00 and set a “neutral” rating on the stock in a report on Wednesday, January 31st. Seventeen research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $257.18.

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.