Motley Fool Asset Management LLC Sells 29,518 Shares of Paycom Software, Inc. (NYSE:PAYC)

Motley Fool Asset Management LLC decreased its position in Paycom Software, Inc. (NYSE:PAYC) by 62.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,596 shares of the software maker’s stock after selling 29,518 shares during the period. Motley Fool Asset Management LLC’s holdings in Paycom Software were worth $3,637,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. raised its position in Paycom Software by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 5,799,327 shares of the software maker’s stock worth $1,503,592,000 after buying an additional 32,038 shares during the last quarter. American Century Companies Inc. increased 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 valued at $295,441,000 after purchasing an additional 180,202 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its holdings in Paycom Software by 6.0% in the 4th quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 905,783 shares of the software maker’s stock worth $172,316,000 after acquiring an additional 50,879 shares in the last quarter. International Assets Investment Management LLC increased its holdings in Paycom Software by 16,173.6% in the 4th quarter. International Assets Investment Management LLC now owns 787,803 shares of the software maker’s stock worth $162,855,000 after acquiring an additional 782,962 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in Paycom Software by 3.8% in 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. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Wall Street Analyst Weigh In

PAYC has been the subject of several analyst reports. Piper Sandler increased their target price on shares of Paycom Software from $185.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, February 8th. BTIG Research started coverage on Paycom Software in a research note on Tuesday, February 6th. They issued a “neutral” rating for the company. Jefferies Financial Group restated a “hold” rating and issued a $195.00 price target on shares of Paycom Software in a research note on Friday, January 5th. JPMorgan Chase & Co. increased their target price on Paycom Software from $140.00 to $165.00 and gave the company a “neutral” rating in a research report on Thursday, February 8th. Finally, Citigroup lowered their target price on Paycom Software from $205.00 to $198.00 and set a “neutral” rating for the company in a research report on Wednesday, January 31st. Seventeen analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $257.18.

Paycom Software Price Performance

Paycom Software stock traded down $1.33 during trading hours on Thursday, reaching $186.58. The stock had a trading volume of 843,256 shares, compared to its average volume of 842,079. The company has a market cap of $10.74 billion, a price-to-earnings ratio of 31.62, a PEG ratio of 3.21 and a beta of 1.17. The business’s 50 day moving average price is $189.86 and its 200-day moving average price is $198.20. Paycom Software, Inc. has a 52 week low of $146.15 and a 52 week high of $374.04.

Paycom Software (NYSE:PAYC) last announced its earnings results on Wednesday, February 7th. The software maker reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.15. Paycom Software had a net margin of 20.12% and a return on equity of 24.60%. The business had revenue of $434.60 million during the quarter, compared to the consensus estimate of $422.50 million. During the same period in the previous year, the company posted $1.38 earnings per share. The firm’s revenue was up 17.3% on a year-over-year basis. On average, sell-side analysts forecast that Paycom Software, Inc. will post 5.73 EPS for the current fiscal year.

Paycom Software Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 18th. Investors 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 dividend on an annualized basis and a yield of 0.80%. Paycom Software’s dividend payout ratio is currently 25.42%.

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.