Principal Financial Group Inc. Has $19.86 Million Stock Position in Paycom Software, Inc. (NYSE:PAYC)

Principal Financial Group Inc. cut its stake in shares of Paycom Software, Inc. (NYSE:PAYC – Get Rating) by 1.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 63,989 shares of the software maker’s stock after selling 808 shares during the quarter. Principal Financial Group Inc.’s holdings in Paycom Software were worth $19,856,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Valeo Financial Advisors LLC acquired a new position in shares of Paycom Software during the fourth quarter worth $238,000. Achmea Investment Management B.V. increased its holdings in shares of Paycom Software by 17.4% during the fourth quarter. Achmea Investment Management B.V. now owns 5,478 shares of the software maker’s stock worth $1,593,000 after buying an additional 812 shares in the last quarter. Aviva PLC increased its holdings in shares of Paycom Software by 67.6% during the fourth quarter. Aviva PLC now owns 19,261 shares of the software maker’s stock worth $5,977,000 after buying an additional 7,770 shares in the last quarter. First National Advisers LLC increased its holdings in shares of Paycom Software by 12.3% during the fourth quarter. First National Advisers LLC now owns 1,607 shares of the software maker’s stock worth $499,000 after buying an additional 176 shares in the last quarter. Finally, HBK Sorce Advisory LLC increased its holdings in shares of Paycom Software by 125.9% during the fourth quarter. HBK Sorce Advisory LLC now owns 1,742 shares of the software maker’s stock worth $541,000 after buying an additional 971 shares in the last quarter. 88.58% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Paycom Software

In related news, Director Jason D. Clark sold 1,070 shares of the firm’s stock in a transaction dated Wednesday, March 15th. The shares were sold at an average price of $278.33, for a total value of $297,813.10. Following the transaction, the director now owns 4,741 shares of the company’s stock, valued at approximately $1,319,562.53. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 14.50% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on PAYC shares. Credit Suisse Group decreased their price objective on Paycom Software from $430.00 to $375.00 in a report on Wednesday, May 3rd. Deutsche Bank Aktiengesellschaft decreased their price objective on Paycom Software from $400.00 to $370.00 in a report on Wednesday, May 3rd. Barclays increased their price objective on Paycom Software from $324.00 to $336.00 and gave the company an “equal weight” rating in a report on Wednesday, February 8th. Mizuho decreased their price objective on Paycom Software from $350.00 to $300.00 in a report on Wednesday, May 3rd. Finally, Piper Sandler cut their price target on shares of Paycom Software from $417.00 to $399.00 in a research report on Wednesday, May 3rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $368.53.

Paycom Software Price Performance

PAYC stock opened at $285.36 on Monday. The stock has a market capitalization of $17.20 billion, a PE ratio of 53.54, a price-to-earnings-growth ratio of 1.86 and a beta of 1.41. The company’s 50-day moving average is $285.14 and its 200-day moving average is $303.11. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.19 and a quick ratio of 1.19. Paycom Software, Inc. has a 1 year low of $255.82 and a 1 year high of $402.78.

Paycom Software (NYSE:PAYC – Get Rating) last released its quarterly earnings data on Tuesday, May 2nd. The software maker reported $2.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.00 by $0.06. The company had revenue of $451.64 million for the quarter, compared to analysts’ expectations of $444.23 million. Paycom Software had a net margin of 20.96% and a return on equity of 26.29%. Equities research analysts expect that Paycom Software, Inc. will post 6.12 EPS for the current fiscal year.

Paycom Software Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 12th. Investors of record on Tuesday, May 30th will be given a $0.375 dividend. The ex-dividend date of this dividend is Friday, May 26th. This represents a $1.50 annualized dividend and a yield of 0.53%.

Paycom Software Profile

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Paycom Software, Inc engages in the provision of cloud-based human capital management (HCM) software solutions delivered as Software-as-a-Service. It offers functionality and data analytics that businesses need to manage the complete employment life cycle from recruitment to retirement. Its solutions include talent acquisition, time and labor management, payroll, talent management, and human resource management.