Paycom Software, Inc. (NYSE:PAYC) Shares Bought by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D grew its holdings in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 18.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 35,356 shares of the software maker's stock after purchasing an additional 5,456 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.06% of Paycom Software worth $7,309,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of PAYC. International Assets Investment Management LLC grew its holdings in Paycom Software by 16,173.6% during the fourth quarter. International Assets Investment Management LLC now owns 787,803 shares of the software maker's stock worth $162,855,000 after acquiring an additional 782,962 shares during the period. Meritage Group LP acquired a new position in shares of Paycom Software in the 3rd quarter worth approximately $103,800,000. Boston Trust Walden Corp bought a new position in shares of Paycom Software during the 4th quarter worth approximately $48,865,000. DSM Capital Partners LLC acquired a new stake in Paycom Software in the 3rd quarter valued at $60,077,000. Finally, American Century Companies Inc. grew its position in Paycom Software by 18.8% in the third quarter. American Century Companies Inc. now owns 1,139,511 shares of the software maker's stock valued at $295,441,000 after acquiring an additional 180,202 shares during the period. 87.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on PAYC shares. Piper Sandler boosted their target price 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. UBS Group boosted their target price on Paycom Software from $235.00 to $250.00 and gave the stock a "buy" rating in a report on Wednesday, January 10th. BTIG Research started coverage on Paycom Software in a report on Tuesday, February 6th. They set a "neutral" rating for the company. Citigroup cut their price objective on Paycom Software from $205.00 to $198.00 and set a "neutral" rating for the company in a research report on Wednesday, January 31st. Finally, Jefferies Financial Group reiterated a "hold" rating and issued a $195.00 price objective 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 stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $257.18.

Paycom Software Trading Up 1.2 %

NYSE:PAYC traded up $2.31 on Friday, hitting $188.89. The company's stock had a trading volume of 674,810 shares, compared to its average volume of 840,017. The stock has a fifty day moving average of $189.86 and a two-hundred day moving average of $198.20. The firm has a market capitalization of $10.87 billion, a P/E ratio of 31.62, a price-to-earnings-growth ratio of 3.20 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.

Paycom Software (NYSE:PAYC - Get Free Report) last released its quarterly earnings data 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. The firm had revenue of $434.60 million for the quarter, compared to analyst estimates of $422.50 million. Paycom Software had a return on equity of 24.60% and a net margin of 20.12%. The business's revenue for the quarter was up 17.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.38 earnings per share. As a group, sell-side analysts anticipate that Paycom Software, Inc. will post 5.73 EPS for the current year.

Paycom Software Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 18th. Shareholders of record on Monday, March 4th were paid a $0.375 dividend. The ex-dividend date was Friday, March 1st. This represents a $1.50 annualized dividend and a yield of 0.79%. Paycom Software's dividend 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.

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.