Riverbridge Partners LLC Has $87.06 Million Stake in Paycom Software, Inc. (NYSE:PAYC)

Riverbridge Partners LLC reduced its holdings in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 2.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 421,159 shares of the software maker's stock after selling 12,176 shares during the quarter. Paycom Software accounts for about 1.2% of Riverbridge Partners LLC's investment portfolio, making the stock its 29th largest holding. Riverbridge Partners LLC owned about 0.70% of Paycom Software worth $87,062,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of PAYC. Vanguard Group Inc. grew its holdings in shares of Paycom Software by 0.6% during the third quarter. Vanguard Group Inc. now owns 5,799,327 shares of the software maker's stock worth $1,503,592,000 after buying an additional 32,038 shares in the last quarter. Alliancebernstein L.P. grew its holdings in shares of Paycom Software by 59.6% during the second quarter. Alliancebernstein L.P. now owns 2,146,132 shares of the software maker's stock worth $689,423,000 after buying an additional 801,539 shares in the last quarter. State Street Corp grew its holdings in shares of Paycom Software by 2.4% during the first quarter. State Street Corp now owns 1,911,316 shares of the software maker's stock worth $581,056,000 after buying an additional 43,991 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Paycom Software by 8.7% during the first quarter. Wellington Management Group LLP now owns 1,359,073 shares of the software maker's stock worth $470,756,000 after buying an additional 108,505 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of Paycom Software by 18.8% during the third quarter. American Century Companies Inc. now owns 1,139,511 shares of the software maker's stock worth $295,441,000 after buying an additional 180,202 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PAYC. 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. Citigroup decreased their price target on Paycom Software from $205.00 to $198.00 and set a "neutral" rating for the company in a research note on Wednesday, January 31st. Piper Sandler raised their price target on Paycom Software from $185.00 to $190.00 and gave the company a "neutral" rating in a research note on Thursday, February 8th. UBS Group raised their price target on Paycom Software from $235.00 to $250.00 and gave the company a "buy" rating in a research note on Wednesday, January 10th. Finally, JPMorgan Chase & Co. raised their price objective on Paycom Software from $140.00 to $165.00 and gave the company a "neutral" rating in a research report on Thursday, February 8th. Seventeen equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Paycom Software has an average rating of "Hold" and a consensus price target of $257.18.

Paycom Software Price Performance

Shares of Paycom Software stock traded down $1.06 on Thursday, hitting $197.75. 737,222 shares of the company's stock traded hands, compared to its average volume of 877,190. The company has a market capitalization of $11.38 billion, a price-to-earnings ratio of 33.52, a price-to-earnings-growth ratio of 3.37 and a beta of 1.17. Paycom Software, Inc. has a one year low of $146.15 and a one year high of $374.04. The company has a fifty day moving average of $189.88 and a two-hundred day moving average of $205.43.

Paycom Software (NYSE:PAYC - Get Free Report) last issued its quarterly earnings data on Wednesday, February 7th. The software maker reported $1.93 EPS for the quarter, topping the consensus estimate of $1.78 by $0.15. The firm 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%. The company's quarterly revenue was up 17.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.38 earnings per share. Equities research analysts anticipate that Paycom Software, Inc. will post 5.73 earnings per share for the current year.

Paycom Software Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 18th. Stockholders of record on Monday, March 4th were paid a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 0.76%. The ex-dividend date was Friday, March 1st. Paycom Software's dividend payout ratio (DPR) is presently 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.