Russell Investments Group Ltd. Has $6.61 Million Position in Paycom Software, Inc. (NYSE:PAYC)

Russell Investments Group Ltd. lifted its stake in Paycom Software, Inc. (NYSE:PAYC) by 17.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 31,943 shares of the software maker’s stock after acquiring an additional 4,747 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.05% of Paycom Software worth $6,606,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. grew its position in Paycom Software by 0.6% in the third quarter. Vanguard Group Inc. now owns 5,799,327 shares of the software maker’s stock worth $1,503,592,000 after acquiring an additional 32,038 shares in the last quarter. American Century Companies Inc. increased its position in Paycom Software by 18.8% during the third quarter. American Century Companies Inc. now owns 1,139,511 shares of the software maker’s stock worth $295,441,000 after buying an additional 180,202 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its holdings in Paycom Software by 6.0% during the fourth quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 905,783 shares of the software maker’s stock valued at $172,316,000 after buying an additional 50,879 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of Paycom Software by 16,173.6% in the fourth quarter. International Assets Investment Management LLC now owns 787,803 shares of the software maker’s stock worth $162,855,000 after buying an additional 782,962 shares during the last quarter. Finally, Northern Trust Corp boosted its stake 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 acquiring an additional 19,900 shares in the last quarter. 87.77% of the stock is owned by institutional investors and hedge funds.

Paycom Software Stock Down 2.4 %

NYSE PAYC opened at $172.26 on Thursday. Paycom Software, Inc. has a twelve month low of $146.15 and a twelve month high of $374.04. The stock has a market cap of $10.01 billion, a P/E ratio of 20.98, a PEG ratio of 2.84 and a beta of 1.17. The company’s 50-day simple moving average is $188.87 and its 200 day simple moving average is $192.02.

Paycom Software (NYSE:PAYC) last released its quarterly earnings data on Wednesday, February 7th. The software maker reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.15. The company had revenue of $434.60 million for the quarter, compared to analyst estimates of $422.50 million. Paycom Software had a return on equity of 32.84% and a net margin of 26.91%. The company’s revenue was up 17.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.38 EPS. Research analysts anticipate that Paycom Software, Inc. will post 5.82 earnings per share for the current year.

Paycom Software Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Tuesday, May 28th will be issued a dividend of $0.375 per share. The ex-dividend date of this dividend is Friday, May 24th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.87%. Paycom Software’s payout ratio is presently 18.27%.

Wall Street Analyst Weigh In

PAYC has been the subject of several analyst reports. BMO Capital Markets reduced their target price on Paycom Software from $200.00 to $190.00 and set a “market perform” rating for the company in a report on Thursday, May 2nd. Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a report on Thursday, May 2nd. Citigroup dropped their target price on shares of Paycom Software from $196.00 to $193.00 and set a “neutral” rating on the stock in a report on Thursday, May 2nd. Mizuho lowered their price target on Paycom Software from $185.00 to $170.00 and set a “neutral” rating on the stock in a research report on Monday. Finally, UBS Group boosted their price objective on Paycom Software from $235.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, January 10th. Sixteen analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $246.31.

Paycom Software Company Profile

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.