Envestnet Portfolio Solutions Inc. Increases Stake in Paycom Software, Inc. (NYSE:PAYC)

Envestnet Portfolio Solutions Inc. lifted its position in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 70.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,384 shares of the software maker's stock after purchasing an additional 10,452 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Paycom Software were worth $5,247,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Hexagon Capital Partners LLC raised its holdings in Paycom Software by 333.3% in the fourth quarter. Hexagon Capital Partners LLC now owns 130 shares of the software maker's stock valued at $27,000 after acquiring an additional 100 shares in the last quarter. Cary Street Partners Investment Advisory LLC increased its stake in Paycom Software by 83.5% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 156 shares of the software maker's stock valued at $40,000 after purchasing an additional 71 shares during the last quarter. GAMMA Investing LLC bought a new stake in Paycom Software during the fourth quarter valued at $49,000. Headlands Technologies LLC bought a new stake in Paycom Software during the third quarter valued at $52,000. Finally, Operose Advisors LLC bought a new stake in Paycom Software during the third quarter valued at $55,000. 87.77% of the stock is owned by institutional investors and hedge funds.

Paycom Software Stock Up 0.2 %

PAYC stock traded up $0.43 during trading hours on Tuesday, hitting $174.51. The company's stock had a trading volume of 488,141 shares, compared to its average volume of 846,489. The stock has a 50 day moving average price of $188.40 and a two-hundred day moving average price of $189.45. Paycom Software, Inc. has a 12 month low of $146.15 and a 12 month high of $374.04. The company has a market capitalization of $10.14 billion, a PE ratio of 21.26, a price-to-earnings-growth ratio of 2.72 and a beta of 1.17.

Paycom Software Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Tuesday, May 28th will be given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend is Friday, May 24th. Paycom Software's payout ratio is 18.27%.

Analyst Ratings Changes

Several research firms have weighed in on PAYC. Barclays lowered their target price on shares of Paycom Software from $193.00 to $184.00 and set an "equal weight" rating for the company in a research note on Thursday, May 2nd. JPMorgan Chase & Co. increased their target price on shares of Paycom Software from $165.00 to $175.00 and gave the company a "neutral" rating in a research report on Thursday, May 2nd. BMO Capital Markets decreased their target price on shares of Paycom Software from $200.00 to $190.00 and set a "market perform" rating for the company in a research report on Thursday, May 2nd. Piper Sandler upped their price target on shares of Paycom Software from $185.00 to $190.00 and gave the company a "neutral" rating in a report on Thursday, February 8th. Finally, Citigroup cut their price target on shares of Paycom Software from $196.00 to $193.00 and set a "neutral" rating for the company in a report on Thursday, May 2nd. Seventeen analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $246.31.

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.