IFM Investors Pty Ltd Reduces Stock Position in Paycom Software, Inc. (NYSE:PAYC)

IFM Investors Pty Ltd trimmed its position in Paycom Software, Inc. (NYSE:PAYC) by 1.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,940 shares of the software maker’s stock after selling 219 shares during the quarter. IFM Investors Pty Ltd’s holdings in Paycom Software were worth $2,376,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of PAYC. CWM LLC grew its position in Paycom Software by 34.5% during the 3rd quarter. CWM LLC now owns 1,048 shares of the software maker’s stock worth $272,000 after purchasing an additional 269 shares during the period. AE Wealth Management LLC raised its position in Paycom Software by 12.7% during the third quarter. AE Wealth Management LLC now owns 1,704 shares of the software maker’s stock valued at $442,000 after acquiring an additional 192 shares in the last quarter. Flagship Harbor Advisors LLC lifted its holdings in Paycom Software by 40.3% in the third quarter. Flagship Harbor Advisors LLC now owns 1,330 shares of the software maker’s stock valued at $345,000 after acquiring an additional 382 shares during the period. Oak Thistle LLC purchased a new stake in Paycom Software in the 3rd quarter worth approximately $1,502,000. Finally, Czech National Bank grew its stake in shares of Paycom Software by 49.6% during the 3rd quarter. Czech National Bank now owns 8,609 shares of the software maker’s stock worth $2,232,000 after purchasing an additional 2,855 shares during the period. Institutional investors and hedge funds own 87.77% of the company’s stock.

Paycom Software Trading Up 1.2 %

NYSE PAYC traded up $2.31 during trading hours on Friday, reaching $188.89. The company had a trading volume of 674,972 shares, compared to its average volume of 700,485. Paycom Software, Inc. has a 1-year low of $146.15 and a 1-year high of $374.04. The stock has a market capitalization of $10.87 billion, a P/E ratio of 32.02, a price-to-earnings-growth ratio of 3.18 and a beta of 1.17. The stock has a 50-day moving average of $189.82 and a 200 day moving average of $197.60.

Paycom Software (NYSE:PAYC) last posted its earnings results 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. Paycom Software had a net margin of 20.12% and a return on equity of 24.60%. The firm had revenue of $434.60 million during the quarter, compared to the consensus estimate of $422.50 million. During the same quarter last year, the firm earned $1.38 EPS. The firm’s revenue for the quarter was up 17.3% on a year-over-year basis. As a group, sell-side analysts predict that Paycom Software, Inc. will post 5.73 EPS for the current year.

Paycom Software Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 18th. Shareholders of record on Monday, March 4th were given a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 0.79%. The ex-dividend date of this dividend was Friday, March 1st. Paycom Software’s dividend payout ratio is currently 25.42%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Citigroup lowered their target price on shares of Paycom Software from $205.00 to $198.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 31st. Piper Sandler boosted their price objective on Paycom Software from $185.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, February 8th. 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. Jefferies Financial Group reissued a “hold” rating and issued a $195.00 price target on shares of Paycom Software in a research note on Friday, January 5th. Finally, BTIG Research began coverage on shares of Paycom Software in a research report on Tuesday, February 6th. They set a “neutral” rating for the company. Seventeen research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $257.18.

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.