Shell Asset Management Co. grew its stake in Paycom Software, Inc. (NYSE:PAYC – Free Report) by 91.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,973 shares of the software maker’s stock after purchasing an additional 1,420 shares during the period. Shell Asset Management Co.’s holdings in Paycom Software were worth $771,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Alliancebernstein L.P. boosted its position in shares of Paycom Software by 59.6% during the 2nd quarter. Alliancebernstein L.P. now owns 2,146,132 shares of the software maker’s stock valued at $689,423,000 after acquiring an additional 801,539 shares in the last quarter. Morgan Stanley boosted its position in shares of Paycom Software by 147.5% during the 4th quarter. Morgan Stanley now owns 1,084,991 shares of the software maker’s stock valued at $336,684,000 after acquiring an additional 646,679 shares in the last quarter. Holocene Advisors LP boosted its position in shares of Paycom Software by 121.9% during the 2nd quarter. Holocene Advisors LP now owns 520,003 shares of the software maker’s stock valued at $167,046,000 after acquiring an additional 285,640 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Paycom Software by 47.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 877,824 shares of the software maker’s stock valued at $304,061,000 after acquiring an additional 283,892 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of Paycom Software by 593.4% during the 1st quarter. Renaissance Technologies LLC now owns 249,850 shares of the software maker’s stock valued at $75,957,000 after acquiring an additional 213,816 shares in the last quarter. 88.69% of the stock is currently owned by institutional investors and hedge funds.
Paycom Software Trading Down 2.9 %
Shares of NYSE PAYC opened at $190.00 on Friday. Paycom Software, Inc. has a 1-year low of $146.15 and a 1-year high of $374.04. The company has a market cap of $11.44 billion, a PE ratio of 32.20, a P/E/G ratio of 1.71 and a beta of 1.21. The company has a current ratio of 1.11, a quick ratio of 1.24 and a debt-to-equity ratio of 0.02. The company has a 50-day moving average of $197.26 and a two-hundred day moving average of $236.88.
Paycom Software Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 18th. Stockholders of record on Monday, March 4th will be given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 0.79%. The ex-dividend date is Friday, March 1st. Paycom Software’s dividend payout ratio is 25.42%.
Wall Street Analyst Weigh In
PAYC has been the topic of several recent research reports. Oppenheimer reiterated a “market perform” rating on shares of Paycom Software in a research report on Wednesday, November 1st. Bank of America lowered shares of Paycom Software from a “buy” rating to a “neutral” rating and decreased their target price for the company from $330.00 to $185.00 in a research report on Thursday, November 2nd. UBS Group lifted their target price on shares of Paycom Software from $235.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, January 10th. Piper Sandler lifted their price target on shares of Paycom Software from $185.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday. Finally, Mizuho cut their price target on shares of Paycom Software from $325.00 to $185.00 and set a “neutral” rating for the company in a report on Wednesday, November 1st. Seventeen investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $262.33.
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.
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