Cerity Partners LLC Trims Stake in Paycom Software, Inc. (NYSE:PAYC)

Cerity Partners LLC lessened its position in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 80.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,505 shares of the software maker's stock after selling 46,629 shares during the quarter. Cerity Partners LLC's holdings in Paycom Software were worth $2,378,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Custom Index Systems LLC purchased a new position in shares of Paycom Software in the fourth quarter valued at approximately $309,000. Optas LLC lifted its position in Paycom Software by 7.0% during the fourth quarter. Optas LLC now owns 998 shares of the software maker's stock worth $206,000 after buying an additional 65 shares in the last quarter. Tobam purchased a new position in Paycom Software during the fourth quarter worth approximately $668,000. HBK Sorce Advisory LLC lifted its position in Paycom Software by 5.9% during the fourth quarter. HBK Sorce Advisory LLC now owns 986 shares of the software maker's stock worth $204,000 after buying an additional 55 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in Paycom Software by 38.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 139,968 shares of the software maker's stock worth $28,934,000 after buying an additional 38,959 shares in the last quarter. Hedge funds and other institutional investors own 87.77% of the company's stock.

Analyst Upgrades and Downgrades

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

Paycom Software Stock Performance

Shares of NYSE PAYC traded down $1.62 during trading on Friday, reaching $183.25. The stock had a trading volume of 572,334 shares, compared to its average volume of 853,217. Paycom Software, Inc. has a fifty-two week low of $146.15 and a fifty-two week high of $374.04. The business's 50-day moving average price is $190.12 and its 200-day moving average price is $200.33. The company has a market cap of $10.55 billion, a P/E ratio of 31.06, a PEG ratio of 3.19 and a beta of 1.17.

Paycom Software (NYSE:PAYC - Get Free Report) last released its earnings results on Wednesday, February 7th. The software maker reported $1.93 EPS for the quarter, topping the consensus estimate of $1.78 by $0.15. Paycom Software had a return on equity of 24.60% and a net margin of 20.12%. 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 firm posted $1.38 EPS. Paycom Software's revenue for the quarter was up 17.3% on a year-over-year basis. Analysts forecast that Paycom Software, Inc. will post 5.73 EPS for the current fiscal year.

Paycom Software Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 18th. Investors of record on Monday, March 4th were paid a dividend of $0.375 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $1.50 annualized dividend and a yield of 0.82%. Paycom Software's payout ratio is 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.