Paycom Software, Inc. (NYSE:PAYC) Position Lessened by Jennison Associates LLC

Jennison Associates LLC decreased its stake in Paycom Software, Inc. (NYSE:PAYC) by 67.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 90,969 shares of the software maker’s stock after selling 191,850 shares during the period. Jennison Associates LLC owned 0.15% of Paycom Software worth $18,805,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in PAYC. CWM LLC raised its stake in Paycom Software by 34.5% during the 3rd quarter. CWM LLC now owns 1,048 shares of the software maker’s stock valued at $272,000 after acquiring an additional 269 shares in the last quarter. AE Wealth Management LLC raised its stake in Paycom Software by 12.7% during the 3rd quarter. AE Wealth Management LLC now owns 1,704 shares of the software maker’s stock valued at $442,000 after acquiring an additional 192 shares in the last quarter. Czech National Bank raised its stake in Paycom Software by 49.6% during the 3rd quarter. Czech National Bank now owns 8,609 shares of the software maker’s stock valued at $2,232,000 after acquiring an additional 2,855 shares in the last quarter. Linden Thomas Advisory Services LLC raised its stake in Paycom Software by 16.9% during the 3rd quarter. Linden Thomas Advisory Services LLC now owns 7,293 shares of the software maker’s stock valued at $1,891,000 after acquiring an additional 1,056 shares in the last quarter. Finally, Copeland Capital Management LLC acquired a new position in shares of Paycom Software during the 3rd quarter valued at $811,000. Institutional investors own 87.77% of the company’s stock.

Paycom Software Trading Down 0.7 %

PAYC opened at $186.58 on Friday. The stock has a market cap of $10.74 billion, a price-to-earnings ratio of 31.62, a PEG ratio of 3.20 and a beta of 1.17. Paycom Software, Inc. has a 1 year low of $146.15 and a 1 year high of $374.04. The stock has a fifty day moving average price of $189.86 and a 200 day moving average price of $198.20.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings results on Wednesday, February 7th. The software maker reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $422.50 million. During the same quarter in the previous year, the firm earned $1.38 earnings per share. The business’s quarterly revenue was up 17.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Paycom Software, Inc. will post 5.73 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PAYC shares. JPMorgan Chase & Co. lifted their price target on Paycom Software from $140.00 to $165.00 and gave the company a “neutral” rating in a research report on Thursday, February 8th. Citigroup lowered their price target on Paycom Software from $205.00 to $198.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 31st. Jefferies Financial Group reiterated a “hold” rating and set a $195.00 price target on shares of Paycom Software in a research report on Friday, January 5th. BTIG Research started coverage on Paycom Software in a research report on Tuesday, February 6th. They set a “neutral” rating on the stock. Finally, Piper Sandler lifted their price target on Paycom Software from $185.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, February 8th. Seventeen research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $257.18.

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.