Asset Management One Co. Ltd. Increases Stock Position in Paycom Software, Inc. (NYSE:PAYC)

Asset Management One Co. Ltd. increased its position in shares of Paycom Software, Inc. (NYSE:PAYC) by 0.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,240 shares of the software maker’s stock after buying an additional 79 shares during the period. Asset Management One Co. Ltd.’s holdings in Paycom Software were worth $4,184,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC raised its position in shares of Paycom Software by 51.4% in the third quarter. Nisa Investment Advisors LLC now owns 2,666 shares of the software maker’s stock valued at $444,000 after buying an additional 905 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Paycom Software by 14.5% in the third quarter. JPMorgan Chase & Co. now owns 326,018 shares of the software maker’s stock valued at $54,305,000 after buying an additional 41,187 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Paycom Software by 9.3% in the third quarter. Principal Financial Group Inc. now owns 65,809 shares of the software maker’s stock valued at $10,962,000 after buying an additional 5,574 shares during the last quarter. FMR LLC raised its position in shares of Paycom Software by 55.0% in the third 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 last quarter. Finally, Nordea Investment Management AB raised its position in shares of Paycom Software by 3.5% in the fourth quarter. Nordea Investment Management AB now owns 204,377 shares of the software maker’s stock valued at $41,952,000 after buying an additional 6,916 shares during the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PAYC. JPMorgan Chase & Co. raised their price objective on shares of Paycom Software from $185.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. StockNews.com upgraded shares of Paycom Software from a “hold” rating to a “buy” rating in a research report on Friday, January 31st. Jefferies Financial Group increased their target price on shares of Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. Piper Sandler increased their target price on shares of Paycom Software from $191.00 to $224.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. Finally, TD Cowen increased their target price on shares of Paycom Software from $193.00 to $248.00 and gave the stock a “hold” rating in a research note on Monday, December 9th. Eleven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $209.22.

Paycom Software Price Performance

Shares of NYSE PAYC opened at $215.86 on Thursday. Paycom Software, Inc. has a 1-year low of $139.50 and a 1-year high of $242.74. The firm has a market capitalization of $12.45 billion, a PE ratio of 24.25, a P/E/G ratio of 2.34 and a beta of 1.15. The business’s fifty day moving average price is $208.86 and its two-hundred day moving average price is $193.01.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings data on Wednesday, February 12th. The software maker reported $2.02 EPS for the quarter, topping analysts’ consensus estimates of $1.99 by $0.03. Paycom Software had a return on equity of 33.53% and a net margin of 26.66%. Equities research analysts expect that Paycom Software, Inc. will post 7.16 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 10th will be issued a dividend of $0.375 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.50 annualized dividend and a dividend yield of 0.69%. Paycom Software’s dividend payout ratio is 16.85%.

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.