Riverstone Advisors LLC Sells 5,652 Shares of Paycom Software, Inc. (NYSE:PAYC)

Riverstone Advisors LLC lowered its holdings in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 17.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 26,145 shares of the software maker's stock after selling 5,652 shares during the quarter. Paycom Software makes up 3.5% of Riverstone Advisors LLC's portfolio, making the stock its 10th biggest position. Riverstone Advisors LLC's holdings in Paycom Software were worth $5,405,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Paycom Software by 0.6% in the 3rd 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 during the last quarter. Alliancebernstein L.P. grew its position in shares of Paycom Software by 59.6% in the 2nd 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 during the last quarter. State Street Corp grew its position in shares of Paycom Software by 2.4% in the 1st 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 during the last quarter. Wellington Management Group LLP grew its position in shares of Paycom Software by 8.7% in the 1st 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 during the last quarter. Finally, American Century Companies Inc. grew its position in shares of Paycom Software by 18.8% in the 3rd 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 during the last quarter. Institutional investors own 87.77% of the company's stock.

Paycom Software Stock Performance

Shares of PAYC traded down $2.58 during trading hours on Tuesday, hitting $190.15. The stock had a trading volume of 795,466 shares, compared to its average volume of 860,769. The firm has a 50-day moving average price of $190.87 and a 200 day moving average price of $201.56. Paycom Software, Inc. has a fifty-two week low of $146.15 and a fifty-two week high of $374.04. The firm has a market capitalization of $10.94 billion, a price-to-earnings ratio of 32.29, a PEG ratio of 3.38 and a beta of 1.17.

Paycom Software (NYSE:PAYC - Get Free Report) last posted its earnings results on Wednesday, February 7th. The software maker reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.15. Paycom Software had a net margin of 20.12% and a return on equity of 24.60%. The firm had revenue of $434.60 million during the quarter, compared to analysts' expectations of $422.50 million. During the same period in the previous year, the business posted $1.38 EPS. The business's revenue was up 17.3% compared to the same quarter last year. As a group, analysts predict that Paycom Software, Inc. will post 5.73 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 18th. Investors of record on Monday, March 4th were paid a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 0.79%. The ex-dividend date was Friday, March 1st. Paycom Software's dividend payout ratio is currently 25.42%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Citigroup cut their price objective on shares of Paycom Software from $205.00 to $198.00 and set a "neutral" rating on the stock in a research report on Wednesday, January 31st. Piper Sandler boosted their target price on shares of Paycom Software from $185.00 to $190.00 and gave the stock a "neutral" rating in a research report on Thursday, February 8th. JPMorgan Chase & Co. boosted their target price on shares of Paycom Software from $140.00 to $165.00 and gave the stock a "neutral" rating in a research report on Thursday, February 8th. BTIG Research began coverage on shares of Paycom Software in a research report on Tuesday, February 6th. They set a "neutral" rating on the stock. Finally, Jefferies Financial Group reissued a "hold" rating and set a $195.00 target price on shares of Paycom Software in a research report on Friday, January 5th. Seventeen investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $257.18.

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.