Xponance Inc. Lowers Stock Position in Paycom Software, Inc. (NYSE:PAYC)

Xponance Inc. lessened its holdings in Paycom Software, Inc. (NYSE:PAYC) by 6.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,473 shares of the software maker’s stock after selling 832 shares during the quarter. Xponance Inc.’s holdings in Paycom Software were worth $2,372,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in PAYC. International Assets Investment Management LLC boosted 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 valued at $162,855,000 after purchasing an additional 782,962 shares in the last quarter. Meritage Group LP purchased a new stake in shares of Paycom Software during the 3rd quarter worth approximately $103,800,000. Boston Trust Walden Corp purchased a new stake in shares of Paycom Software during the 4th quarter worth approximately $48,865,000. DSM Capital Partners LLC purchased a new stake in shares of Paycom Software during the 3rd quarter worth approximately $60,077,000. Finally, American Century Companies Inc. boosted its stake 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 worth $295,441,000 after acquiring an additional 180,202 shares in the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on PAYC shares. BTIG Research started coverage on Paycom Software in a research note on Tuesday, February 6th. They set a “neutral” rating on the stock. Citigroup decreased their price target on 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 target on Paycom Software from $185.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday, February 8th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $195.00 target price on shares of Paycom Software in a research note on Friday, January 5th. Finally, UBS Group upped their target price on Paycom Software from $235.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, January 10th. Seventeen equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $257.18.

Paycom Software Stock Performance

Shares of PAYC opened at $186.72 on Tuesday. The stock has a fifty day moving average of $190.02 and a two-hundred day moving average of $198.94. The company has a market capitalization of $10.75 billion, a PE ratio of 31.65, a price-to-earnings-growth ratio of 3.13 and a beta of 1.17. Paycom Software, Inc. has a fifty-two week low of $146.15 and a fifty-two week high of $374.04.

Paycom Software (NYSE:PAYC) last issued its quarterly 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 during 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 revenue was up 17.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.38 EPS. As a group, equities research analysts forecast that Paycom Software, Inc. will post 5.73 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 18th. Stockholders of record on Monday, March 4th were issued a dividend of $0.375 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.80%. Paycom Software’s payout ratio is 25.42%.

Paycom Software 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.