Paycom Software, Inc. (NYSE:PAYC) Shares Sold by Duality Advisers LP

Duality Advisers LP reduced its holdings in shares of Paycom Software, Inc. (NYSE:PAYC) by 29.3% in the 4th quarter, HoldingsChannel reports. The fund owned 1,683 shares of the software maker’s stock after selling 696 shares during the quarter. Duality Advisers LP’s holdings in Paycom Software were worth $348,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cary Street Partners Investment Advisory LLC boosted its position in shares of Paycom Software by 83.5% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 156 shares of the software maker’s stock worth $40,000 after acquiring an additional 71 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of Paycom Software during the 3rd quarter worth about $52,000. Operose Advisors LLC acquired a new position in shares of Paycom Software during the 3rd quarter worth about $55,000. Rakuten Securities Inc. purchased a new stake in shares of Paycom Software in the 4th quarter valued at about $62,000. Finally, Clearstead Advisors LLC lifted its holdings in shares of Paycom Software by 2,536.8% in the 3rd quarter. Clearstead Advisors LLC now owns 501 shares of the software maker’s stock valued at $130,000 after purchasing an additional 482 shares during the last quarter. 87.77% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PAYC. Piper Sandler boosted their target price on Paycom Software from $185.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, February 8th. BTIG Research began coverage on Paycom Software in a report on Tuesday, February 6th. They issued a “neutral” rating for the company. Citigroup reduced their target price on Paycom Software from $205.00 to $198.00 and set a “neutral” rating for the company in a report on Wednesday, January 31st. UBS Group boosted their target price on Paycom Software from $235.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, January 10th. Finally, JPMorgan Chase & Co. upped their price objective on Paycom Software from $140.00 to $165.00 and gave the company a “neutral” rating in a research note on Thursday, February 8th. Seventeen research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $257.18.

Paycom Software Trading Up 1.2 %

NYSE PAYC opened at $188.89 on Friday. The business’s 50 day moving average is $189.82 and its two-hundred day moving average is $197.60. Paycom Software, Inc. has a 12-month low of $146.15 and a 12-month high of $374.04. The stock has a market capitalization of $10.87 billion, a price-to-earnings ratio of 32.02, a PEG ratio of 3.18 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 (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.15. Paycom Software had a return on equity of 24.60% and a net margin of 20.12%. The company had revenue of $434.60 million for the quarter, compared to analysts’ expectations of $422.50 million. During the same quarter in the previous year, the firm posted $1.38 EPS. The firm’s quarterly revenue was up 17.3% on a year-over-year basis. 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 declared 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 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date was Friday, March 1st. Paycom Software’s dividend payout ratio is currently 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.