Paycom Software, Inc. (NYSE:PAYC) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB lessened its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 54.1% in the 4th quarter, Holdings Channel reports. The firm owned 13,116 shares of the software maker’s stock after selling 15,434 shares during the period. Handelsbanken Fonder AB’s holdings in Paycom Software were worth $2,711,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of Paycom Software by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 5,799,327 shares of the software maker’s stock worth $1,503,592,000 after purchasing an additional 32,038 shares during the last quarter. American Century Companies Inc. raised its position in shares of Paycom Software by 18.8% during the 3rd quarter. American Century Companies Inc. now owns 1,139,511 shares of the software maker’s stock worth $295,441,000 after purchasing an additional 180,202 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its position in shares of Paycom Software by 19.8% during the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 854,904 shares of the software maker’s stock worth $221,651,000 after purchasing an additional 141,464 shares during the last quarter. International Assets Investment Management LLC raised its position in shares of Paycom Software by 16,173.6% during the 4th quarter. International Assets Investment Management LLC now owns 787,803 shares of the software maker’s stock worth $162,855,000 after purchasing an additional 782,962 shares during the last quarter. Finally, Northern Trust Corp raised its position in shares of Paycom Software by 3.8% during the 3rd quarter. Northern Trust Corp now owns 538,282 shares of the software maker’s stock worth $139,560,000 after purchasing an additional 19,900 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Paycom Software Stock Up 1.2 %

Shares of PAYC stock 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 capitalization of $10.87 billion, a PE ratio of 32.02, a P/E/G ratio of 3.18 and a beta of 1.17. The firm has a 50 day moving average of $189.82 and a two-hundred day moving average of $197.60.

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

Paycom Software Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 18th. Shareholders of record on Monday, March 4th were given a $0.375 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $1.50 annualized dividend and a yield of 0.79%. Paycom Software’s dividend payout ratio is presently 25.42%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PAYC. Citigroup cut their price objective on shares of Paycom Software from $205.00 to $198.00 and set a “neutral” rating for the company in a report on Wednesday, January 31st. JPMorgan Chase & Co. increased their price objective on shares of Paycom Software from $140.00 to $165.00 and gave the company a “neutral” rating in a report on Thursday, February 8th. Jefferies Financial Group reiterated a “hold” rating and issued a $195.00 price objective on shares of Paycom Software in a report on Friday, January 5th. Piper Sandler increased their price objective on shares of Paycom Software from $185.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, February 8th. Finally, UBS Group increased their price objective on shares of Paycom Software from $235.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, January 10th. Seventeen equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target 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.