Nisa Investment Advisors LLC Cuts Stake in Paycom Software, Inc. (NYSE:PAYC)

Nisa Investment Advisors LLC reduced its position in Paycom Software, Inc. (NYSE:PAYC) by 59.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,792 shares of the software maker’s stock after selling 4,097 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Paycom Software were worth $577,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of PAYC. Vanguard Group Inc. grew its holdings in shares of Paycom Software by 0.6% during the third quarter. Vanguard Group Inc. now owns 5,799,327 shares of the software maker’s stock valued at $1,503,592,000 after buying an additional 32,038 shares during the last quarter. Alliancebernstein L.P. grew its holdings in shares of Paycom Software by 59.6% during the second quarter. Alliancebernstein L.P. now owns 2,146,132 shares of the software maker’s stock valued at $689,423,000 after buying an additional 801,539 shares during the last quarter. State Street Corp grew its holdings in shares of Paycom Software by 2.4% during the first quarter. State Street Corp now owns 1,911,316 shares of the software maker’s stock valued at $581,056,000 after buying an additional 43,991 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Paycom Software by 8.7% during the first quarter. Wellington Management Group LLP now owns 1,359,073 shares of the software maker’s stock valued at $470,756,000 after buying an additional 108,505 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in shares of Paycom Software by 18.8% during 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 buying an additional 180,202 shares during the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

Paycom Software Stock Performance

Shares of Paycom Software stock opened at $186.86 on Thursday. The firm has a 50-day simple moving average of $190.47 and a two-hundred day simple moving average of $200.97. The company has a market cap of $10.75 billion, a P/E ratio of 31.67, a price-to-earnings-growth ratio of 3.29 and a beta of 1.17. Paycom Software, Inc. has a fifty-two week low of $146.15 and a fifty-two week high of $374.04.

Paycom Software (NYSE:PAYC) 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 the consensus estimate of $422.50 million. During the same quarter in the prior year, the firm posted $1.38 earnings per share. The company’s revenue was up 17.3% compared to the same quarter last year. Equities research analysts forecast that Paycom Software, Inc. will post 5.73 EPS for the current year.

Paycom Software Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 18th. Investors of record on Monday, March 4th were given a dividend of $0.375 per share. The ex-dividend date was Friday, March 1st. This represents a $1.50 annualized dividend and a dividend yield of 0.80%. Paycom Software’s dividend payout ratio (DPR) is presently 25.42%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Jefferies Financial Group reissued a “hold” rating and set a $195.00 price objective on shares of Paycom Software in a report on Friday, January 5th. 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. Citigroup lowered their price target on shares of Paycom Software from $205.00 to $198.00 and set a “neutral” rating on the stock in a report on Wednesday, January 31st. UBS Group upped their price target on shares of Paycom Software from $235.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, January 10th. Finally, JPMorgan Chase & Co. upped their price target on shares of Paycom Software from $140.00 to $165.00 and gave the company a “neutral” rating in a report on Thursday, February 8th. Seventeen research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $257.18.

Paycom Software Company 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.