Duality Advisers LP Sells 696 Shares of Paycom Software, Inc. (NYSE:PAYC)

Duality Advisers LP decreased its position in shares of Paycom Software, Inc. (NYSE:PAYC) by 29.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,683 shares of the software maker’s stock after selling 696 shares during the quarter. Duality Advisers LP’s holdings in Paycom Software were worth $348,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Oak Family Advisors LLC bought a new position in shares of Paycom Software during the 4th quarter worth $2,994,000. Nordea Investment Management AB lifted its stake in shares of Paycom Software by 8.8% during the 3rd quarter. Nordea Investment Management AB now owns 261,428 shares of the software maker’s stock worth $68,912,000 after purchasing an additional 21,095 shares during the last quarter. Kornitzer Capital Management Inc. KS purchased a new stake in shares of Paycom Software during the 4th quarter worth $6,615,000. US Bancorp DE lifted its stake in shares of Paycom Software by 25.8% during the 3rd quarter. US Bancorp DE now owns 91,950 shares of the software maker’s stock worth $23,840,000 after purchasing an additional 18,857 shares during the last quarter. Finally, Lecap Asset Management Ltd. purchased a new stake in shares of Paycom Software during the 4th quarter worth $2,028,000. Institutional investors own 87.77% of the company’s stock.

Wall Street Analysts Forecast Growth

PAYC has been the subject of a number of analyst reports. Citigroup decreased their price objective on Paycom Software from $205.00 to $198.00 and set a “neutral” rating for the company in a research note on Wednesday, January 31st. BTIG Research initiated coverage on Paycom Software in a research note on Tuesday, February 6th. They set a “neutral” rating for the company. Jefferies Financial Group restated a “hold” rating and set a $195.00 price objective on shares of Paycom Software in a research note on Friday, January 5th. Piper Sandler upped their price objective on Paycom Software from $185.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday, February 8th. Finally, JPMorgan Chase & Co. upped their price objective on Paycom Software from $140.00 to $165.00 and gave the stock a “neutral” rating in a research note on Thursday, February 8th. Seventeen analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $257.18.

Paycom Software Stock Up 1.2 %

Shares of NYSE:PAYC opened at $188.89 on Friday. Paycom Software, Inc. has a 52-week low of $146.15 and a 52-week high of $374.04. The stock has a market cap of $10.87 billion, a price-to-earnings ratio of 32.02, a PEG ratio of 3.18 and a beta of 1.17. The business has a 50-day moving average price of $189.82 and a 200-day moving average price of $197.60.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings data on Wednesday, February 7th. The software maker reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.15. The firm had revenue of $434.60 million during the quarter, compared to analysts’ expectations of $422.50 million. Paycom Software had a return on equity of 24.60% and a net margin of 20.12%. The company’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same period last year, the business posted $1.38 earnings per share. As a group, equities analysts anticipate that Paycom Software, Inc. will post 5.73 EPS for the current fiscal year.

Paycom Software Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 18th. Investors of record on Monday, March 4th were issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 0.79%. The ex-dividend date of this dividend was Friday, March 1st. Paycom Software’s dividend payout ratio (DPR) is 25.42%.

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.