Mn Services Vermogensbeheer B.V. Sells 900 Shares of Paycom Software, Inc. (NYSE:PAYC)

Mn Services Vermogensbeheer B.V. cut its position in shares of Paycom Software, Inc. (NYSE:PAYC) by 3.5% during the 4th quarter, HoldingsChannel reports. The firm owned 24,900 shares of the software maker’s stock after selling 900 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Paycom Software were worth $5,147,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Fairfield Bush & CO. purchased a new position in Paycom Software during the first quarter valued at $48,000. Cetera Advisor Networks LLC boosted its stake in Paycom Software by 15.4% during the first quarter. Cetera Advisor Networks LLC now owns 771 shares of the software maker’s stock worth $267,000 after acquiring an additional 103 shares in the last quarter. Acadian Asset Management LLC grew its holdings in Paycom Software by 356.2% in the first quarter. Acadian Asset Management LLC now owns 406 shares of the software maker’s stock worth $140,000 after purchasing an additional 317 shares during the period. Panagora Asset Management Inc. increased its stake in shares of Paycom Software by 62.1% during the first quarter. Panagora Asset Management Inc. now owns 3,740 shares of the software maker’s stock valued at $1,295,000 after purchasing an additional 1,433 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Paycom Software by 6.6% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,443 shares of the software maker’s stock valued at $2,232,000 after buying an additional 401 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Jefferies Financial Group reaffirmed a “hold” rating and issued a $195.00 target price on shares of Paycom Software in a report on Friday, January 5th. Piper Sandler boosted their price objective 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. UBS Group upped their price objective on Paycom Software from $235.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, January 10th. JPMorgan Chase & Co. lifted their target price on Paycom Software from $140.00 to $165.00 and gave the stock a “neutral” rating in a report on Thursday, February 8th. Finally, BTIG Research assumed coverage on Paycom Software in a research note on Tuesday, February 6th. They issued a “neutral” rating for the company. Seventeen analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $257.18.

Paycom Software Trading Down 1.3 %

PAYC opened at $190.15 on Wednesday. Paycom Software, Inc. has a 1-year low of $146.15 and a 1-year high of $374.04. The firm’s 50 day simple moving average is $190.72 and its two-hundred day simple moving average is $201.07. The company has a market capitalization of $10.94 billion, a PE ratio of 32.23, a PEG ratio of 3.29 and a beta of 1.17.

Paycom Software (NYSE:PAYC) last released 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. The company had revenue of $434.60 million for the quarter, compared to the consensus estimate of $422.50 million. Paycom Software had a return on equity of 24.60% and a net margin of 20.12%. Paycom Software’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.38 earnings per share. Equities analysts forecast that Paycom Software, Inc. will post 5.73 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 18th. Investors of record on Monday, March 4th were issued 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 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.