Paycom Software, Inc. $PAYC Shares Sold by Fisher Asset Management LLC

Key Points

• Fisher Asset Management reduced its Paycom Software stake by 12.8% in the fourth quarter, selling 9,870 shares and leaving it with 67,142 shares valued at about $10.7 million.
• Paycom beat earnings expectations in its latest quarterly report, posting $3.15 EPS versus the $2.99 estimate and revenue of $571.8 million, up 7.8% year over year.
• Analysts remain mixed on PAYC, with a consensus rating of "Hold" and an average price target of $159.67; the stock also recently announced a $0.375 quarterly dividend.

Fisher Asset Management LLC cut its position in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 12.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,142 shares of the software maker's stock after selling 9,870 shares during the quarter. Fisher Asset Management LLC owned 0.12% of Paycom Software worth $10,700,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. UMB Bank n.a. grew its stake in shares of Paycom Software by 7.6% in the third quarter. UMB Bank n.a. now owns 789 shares of the software maker's stock valued at $164,000 after buying an additional 56 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in Paycom Software by 4.0% during the 3rd quarter. Mackenzie Financial Corp now owns 1,624 shares of the software maker's stock worth $338,000 after buying an additional 63 shares in the last quarter. Davis Investment Partners LLC boosted its position in Paycom Software by 2.3% in the 4th quarter. Davis Investment Partners LLC now owns 2,988 shares of the software maker's stock valued at $455,000 after buying an additional 68 shares during the period. Compound Planning Inc. boosted its position in Paycom Software by 2.9% in the 3rd quarter. Compound Planning Inc. now owns 2,899 shares of the software maker's stock valued at $603,000 after buying an additional 83 shares during the period. Finally, Boyd Watterson Asset Management LLC OH boosted its position in Paycom Software by 0.8% in the 3rd quarter. Boyd Watterson Asset Management LLC OH now owns 10,576 shares of the software maker's stock valued at $2,201,000 after buying an additional 84 shares during the period. 87.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have commented on PAYC shares. Jefferies Financial Group decreased their price target on shares of Paycom Software from $190.00 to $130.00 and set a "hold" rating for the company in a research report on Thursday, February 12th. Citigroup raised their price target on shares of Paycom Software from $120.00 to $136.00 and gave the company a "neutral" rating in a research report on Thursday, May 7th. Cantor Fitzgerald raised their price target on shares of Paycom Software from $115.00 to $135.00 and gave the company a "neutral" rating in a research report on Friday, March 6th. Guggenheim decreased their price target on shares of Paycom Software from $210.00 to $180.00 and set a "buy" rating for the company in a research report on Thursday, February 12th. Finally, TD Cowen raised their price target on shares of Paycom Software from $148.00 to $154.00 and gave the company a "buy" rating in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $159.67.

Paycom Software Price Performance

Shares of PAYC opened at $132.42 on Thursday. Paycom Software, Inc. has a twelve month low of $104.90 and a twelve month high of $267.76. The firm's fifty day simple moving average is $127.53 and its 200-day simple moving average is $140.75. The firm has a market capitalization of $6.31 billion, a price-to-earnings ratio of 15.31, a PEG ratio of 1.16 and a beta of 0.77. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.83.

Paycom Software (NYSE:PAYC - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The software maker reported $3.15 earnings per share for the quarter, beating analysts' consensus estimates of $2.99 by $0.16. Paycom Software had a net margin of 22.44% and a return on equity of 28.34%. The business had revenue of $571.80 million for the quarter, compared to analyst estimates of $564.37 million. During the same period last year, the business earned $2.80 EPS. The company's revenue was up 7.8% on a year-over-year basis. Equities analysts forecast that Paycom Software, Inc. will post 9.09 EPS for the current fiscal year.

Paycom Software Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 8th. Stockholders of record on Tuesday, May 26th will be issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Tuesday, May 26th. Paycom Software's dividend payout ratio (DPR) is presently 17.34%.

Paycom Software Profile

Paycom Software, Inc NYSE: PAYC is a cloud-based human capital management (HCM) software provider that delivers an end-to-end solution for human resources, payroll, talent acquisition, time and labor management, and talent management. Its single-database platform enables organizations to process payroll, track time, administer benefits, and manage recruiting and employee development through a unified system. Paycom's software is designed to streamline administrative tasks, improve data accuracy, and provide real-time reporting and analytics to support strategic HR decisions.

The company's core offerings include payroll processing with built-in tax compliance, employee self-service functionality, automated time tracking, and customizable talent acquisition tools that allow employers to create and post job requisitions, screen candidates, and conduct onboarding electronically.

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