State of Alaska Department of Revenue Lowers Stock Holdings in Paycom Software, Inc. (NYSE:PAYC)

State of Alaska Department of Revenue trimmed its position in shares of Paycom Software, Inc. (NYSE:PAYC) by 0.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,545 shares of the software maker’s stock after selling 50 shares during the quarter. State of Alaska Department of Revenue’s holdings in Paycom Software were worth $1,136,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PAYC. Sylebra Capital LLC boosted its stake in shares of Paycom Software by 0.3% in the 3rd quarter. Sylebra Capital LLC now owns 1,962,468 shares of the software maker’s stock valued at $326,888,000 after buying an additional 5,000 shares during the period. Geode Capital Management LLC boosted its stake in shares of Paycom Software by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,426,920 shares of the software maker’s stock valued at $237,015,000 after buying an additional 45,404 shares during the period. FMR LLC boosted its stake in shares of Paycom Software by 55.0% in the 3rd quarter. FMR LLC now owns 1,007,919 shares of the software maker’s stock valued at $167,889,000 after buying an additional 357,723 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in shares of Paycom Software by 1.0% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 627,510 shares of the software maker’s stock valued at $104,524,000 after buying an additional 6,488 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Paycom Software by 45.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 486,462 shares of the software maker’s stock valued at $81,030,000 after buying an additional 151,807 shares during the period. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PAYC has been the subject of several recent research reports. Piper Sandler lifted their price objective on Paycom Software from $160.00 to $191.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. TD Cowen boosted their target price on Paycom Software from $193.00 to $248.00 and gave the stock a “hold” rating in a research note on Monday, December 9th. StockNews.com upgraded Paycom Software from a “hold” rating to a “buy” rating in a research note on Friday, January 31st. BMO Capital Markets boosted their target price on Paycom Software from $183.00 to $197.00 and gave the stock a “market perform” rating in a research note on Thursday, October 31st. Finally, Mizuho boosted their target price on Paycom Software from $190.00 to $210.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. Ten investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, Paycom Software has an average rating of “Hold” and an average price target of $204.75.

Paycom Software Stock Up 2.2 %

PAYC opened at $207.77 on Thursday. The firm has a market cap of $11.98 billion, a price-to-earnings ratio of 25.00, a price-to-earnings-growth ratio of 2.81 and a beta of 1.15. Paycom Software, Inc. has a 52 week low of $139.50 and a 52 week high of $242.74. The business’s 50 day moving average is $211.71 and its two-hundred day moving average is $191.26.

Paycom Software (NYSE:PAYC) last released its quarterly earnings results on Wednesday, February 12th. The software maker reported $2.02 EPS for the quarter, topping the consensus estimate of $1.99 by $0.03. Paycom Software had a return on equity of 32.90% and a net margin of 25.78%. Equities analysts expect that Paycom Software, Inc. will post 6.88 EPS for the current fiscal year.

Paycom Software Announces Dividend

The business 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. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date of this dividend is Monday, March 10th. Paycom Software’s payout ratio is currently 18.05%.

Paycom Software 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.