Mutual of America Capital Management LLC Reduces Stock Holdings in Paycom Software, Inc. (NYSE:PAYC)

Mutual of America Capital Management LLC cut its holdings in Paycom Software, Inc. (NYSE:PAYC) by 2.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,825 shares of the software maker’s stock after selling 167 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Paycom Software were worth $1,194,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in PAYC. JPMorgan Chase & Co. grew its holdings in shares of Paycom Software by 14.5% during 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. lifted its position in Paycom Software by 9.3% during the 3rd quarter. Principal Financial Group Inc. now owns 65,809 shares of the software maker’s stock worth $10,962,000 after acquiring an additional 5,574 shares during the period. FMR LLC lifted its position in Paycom Software by 55.0% during the 3rd quarter. FMR LLC now owns 1,007,919 shares of the software maker’s stock worth $167,889,000 after acquiring an additional 357,723 shares during the period. Nordea Investment Management AB grew its stake in Paycom Software by 3.5% during the 4th quarter. Nordea Investment Management AB now owns 204,377 shares of the software maker’s stock valued at $41,952,000 after purchasing an additional 6,916 shares during the last quarter. Finally, SpiderRock Advisors LLC acquired a new position in shares of Paycom Software in the third quarter valued at about $555,000. Institutional investors and hedge funds own 87.77% of the company’s stock.

Insider Activity

In other news, Director J C. Watts, Jr. sold 500 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $218.22, for a total transaction of $109,110.00. Following the completion of the sale, the director now owns 7,730 shares of the company’s stock, valued at $1,686,840.60. The trade was a 6.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Randall Peck sold 3,600 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $212.19, for a total transaction of $763,884.00. Following the completion of the transaction, the chief operating officer now directly owns 50,665 shares in the company, valued at $10,750,606.35. This represents a 6.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 14.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Barclays decreased their target price on Paycom Software from $229.00 to $221.00 and set an “equal weight” rating for the company in a report on Thursday, January 23rd. JPMorgan Chase & Co. lifted their price objective on shares of Paycom Software from $185.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Mizuho increased their price objective on shares of Paycom Software from $190.00 to $210.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. StockNews.com downgraded shares of Paycom Software from a “buy” rating to a “hold” rating in a research report on Tuesday, March 4th. Finally, Piper Sandler upped their price target on shares of Paycom Software from $191.00 to $224.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Twelve equities research analysts have rated the stock with a hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $209.22.

Paycom Software Stock Performance

PAYC opened at $213.03 on Monday. The company has a fifty day moving average of $208.61 and a two-hundred day moving average of $198.19. The stock has a market capitalization of $12.20 billion, a price-to-earnings ratio of 23.94, a PEG ratio of 2.40 and a beta of 1.14. Paycom Software, Inc. has a fifty-two week low of $139.50 and a fifty-two week high of $242.74.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings results on Wednesday, February 12th. The software maker reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.99 by $0.03. Paycom Software had a return on equity of 33.53% and a net margin of 26.66%. On average, equities research analysts forecast that Paycom Software, Inc. will post 7.15 earnings per share for the current year.

Paycom Software Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 10th will be paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 0.70%. The ex-dividend date is Monday, March 10th. Paycom Software’s 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.