Paycom Software, Inc. (NYSE:PAYC) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC trimmed its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 4.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,564 shares of the software maker’s stock after selling 329 shares during the period. Mutual of America Capital Management LLC’s holdings in Paycom Software were worth $1,357,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of PAYC. Cary Street Partners Investment Advisory LLC boosted its position in shares of Paycom Software by 83.5% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 156 shares of the software maker’s stock worth $40,000 after buying an additional 71 shares in the last quarter. Headlands Technologies LLC acquired a new position in Paycom Software during the third quarter worth about $52,000. Operose Advisors LLC purchased a new stake in shares of Paycom Software in the third quarter valued at about $55,000. Clearstead Advisors LLC lifted its holdings in shares of Paycom Software by 2,536.8% in the third quarter. Clearstead Advisors LLC now owns 501 shares of the software maker’s stock valued at $130,000 after purchasing an additional 482 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. grew its position in shares of Paycom Software by 187.9% in the third quarter. Newbridge Financial Services Group Inc. now owns 616 shares of the software maker’s stock valued at $160,000 after purchasing an additional 402 shares during the last quarter. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PAYC. BTIG Research began coverage on Paycom Software in a research report on Tuesday, February 6th. They set a “neutral” rating for the company. JPMorgan Chase & Co. increased their price objective on Paycom Software from $140.00 to $165.00 and gave the company a “neutral” rating in a research note on Thursday, February 8th. UBS Group boosted their target price on shares of Paycom Software from $235.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, January 10th. Jefferies Financial Group restated a “hold” rating and issued a $195.00 target price on shares of Paycom Software in a report on Friday, January 5th. Finally, Citigroup lowered their price target on shares of Paycom Software from $205.00 to $198.00 and set a “neutral” rating for the company in a report on Wednesday, January 31st. Seventeen research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Paycom Software has a consensus rating of “Hold” and an average price target of $257.18.

Paycom Software Stock Up 1.9 %

Shares of NYSE PAYC opened at $186.72 on Tuesday. The stock has a market capitalization of $10.75 billion, a PE ratio of 31.65, a P/E/G ratio of 3.13 and a beta of 1.17. The firm has a fifty day moving average of $190.02 and a 200-day moving average of $198.94. Paycom Software, Inc. has a 52-week low of $146.15 and a 52-week high of $374.04.

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

Paycom Software Dividend Announcement

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

About Paycom Software

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.