Paycom Software, Inc. (NYSE:PAYC) Shares Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. boosted its holdings in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 38.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 139,968 shares of the software maker's stock after acquiring an additional 38,959 shares during the period. Mirae Asset Global Investments Co. Ltd. owned 0.23% of Paycom Software worth $28,934,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Fairfield Bush & CO. purchased a new stake in Paycom Software in the first quarter valued at approximately $48,000. Cetera Advisor Networks LLC raised its position in Paycom Software by 15.4% in the first quarter. Cetera Advisor Networks LLC now owns 771 shares of the software maker's stock valued at $267,000 after purchasing an additional 103 shares during the period. Acadian Asset Management LLC raised its position in Paycom Software by 356.2% in the first quarter. Acadian Asset Management LLC now owns 406 shares of the software maker's stock valued at $140,000 after purchasing an additional 317 shares during the period. Panagora Asset Management Inc. raised its position in Paycom Software by 62.1% in the first quarter. Panagora Asset Management Inc. now owns 3,740 shares of the software maker's stock valued at $1,295,000 after purchasing an additional 1,433 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Paycom Software by 6.6% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,443 shares of the software maker's stock valued at $2,232,000 after purchasing an additional 401 shares during the period. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Paycom Software Stock Up 3.0 %

Shares of PAYC traded up $5.96 during mid-day trading on Tuesday, reaching $207.82. 646,903 shares of the company's stock were exchanged, compared to its average volume of 867,745. The company has a 50-day simple moving average of $190.09 and a two-hundred day simple moving average of $203.51. Paycom Software, Inc. has a 52-week low of $146.15 and a 52-week high of $374.04. The company has a market cap of $11.96 billion, a price-to-earnings ratio of 35.22, a PEG ratio of 3.38 and a beta of 1.17.

Paycom Software (NYSE:PAYC - Get Free Report) last issued its quarterly earnings data 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 net margin of 20.12% and a return on equity of 24.60%. The business had revenue of $434.60 million during the quarter, compared to analysts' expectations of $422.50 million. During the same period last year, the company posted $1.38 EPS. The company's revenue was up 17.3% on a year-over-year basis. As a group, equities research analysts predict that Paycom Software, Inc. will post 5.73 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 18th. Stockholders of record on Monday, March 4th were paid a dividend of $0.375 per share. The ex-dividend date was Friday, March 1st. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.72%. Paycom Software's dividend payout ratio (DPR) is 25.42%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on PAYC shares. BTIG Research assumed coverage on Paycom Software in a research report on Tuesday, February 6th. They issued a "neutral" rating on the stock. Jefferies Financial Group reissued a "hold" rating and issued a $195.00 target price on shares of Paycom Software in a report on Friday, January 5th. Citigroup decreased their price objective on shares of Paycom Software from $205.00 to $198.00 and set a "neutral" rating for the company in a research note on Wednesday, January 31st. UBS Group upped their price objective on shares of Paycom Software from $235.00 to $250.00 and gave the company a "buy" rating in a research note on Wednesday, January 10th. Finally, Piper Sandler upped their price objective on shares of Paycom Software from $185.00 to $190.00 and gave the company a "neutral" rating in a research note on Thursday, February 8th. Seventeen analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $257.18.

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.