Handelsbanken Fonder AB Trims Holdings in Paycom Software, Inc. (NYSE:PAYC)

Handelsbanken Fonder AB lessened its holdings in shares of Paycom Software, Inc. (NYSE:PAYC) by 54.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,116 shares of the software maker’s stock after selling 15,434 shares during the period. Handelsbanken Fonder AB’s holdings in Paycom Software were worth $2,711,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Cary Street Partners Investment Advisory LLC raised its position in shares of Paycom Software by 83.5% in 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 bought a new position in shares of Paycom Software in the 3rd quarter worth approximately $52,000. Operose Advisors LLC bought a new position in shares of Paycom Software in the 3rd quarter worth approximately $55,000. Rakuten Securities Inc. bought a new position in shares of Paycom Software in the 4th quarter worth approximately $62,000. Finally, Clearstead Advisors LLC raised its position 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 worth $130,000 after acquiring an additional 482 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 research analysts have recently issued reports on PAYC shares. BTIG Research started coverage on Paycom Software in a research report on Tuesday, February 6th. They issued a “neutral” rating for the company. JPMorgan Chase & Co. upped their price target on Paycom Software from $140.00 to $165.00 and gave the stock a “neutral” rating in a research note on Thursday, February 8th. Citigroup cut 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. Jefferies Financial Group restated a “hold” rating and issued a $195.00 price target on shares of Paycom Software in a research note on Friday, January 5th. Finally, Piper Sandler upped 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. Seventeen research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Paycom Software currently has a consensus rating of “Hold” and an average price target of $257.18.

Paycom Software Price Performance

PAYC stock opened at $188.89 on Friday. The company has a market cap of $10.87 billion, a P/E ratio of 32.02, a price-to-earnings-growth ratio of 3.18 and a beta of 1.17. The stock’s fifty day moving average price is $189.82 and its 200-day moving average price is $197.60. Paycom Software, Inc. has a 1 year low of $146.15 and a 1 year high of $374.04.

Paycom Software (NYSE:PAYC) last issued its quarterly earnings data on Wednesday, February 7th. The software maker reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.15. The firm had revenue of $434.60 million during the quarter, compared to analyst estimates of $422.50 million. Paycom Software had a return on equity of 24.60% and a net margin of 20.12%. The business’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.38 earnings per share. As a group, analysts expect that Paycom Software, Inc. will post 5.73 earnings per share for the current year.

Paycom Software Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 18th. Investors of record on Monday, March 4th were given a $0.375 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $1.50 annualized dividend and a yield of 0.79%. 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.