Paycom Software, Inc. (NYSE:PAYC) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp lessened its holdings in shares of Paycom Software, Inc. (NYSE:PAYC) by 30.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,454 shares of the software maker’s stock after selling 3,670 shares during the quarter. Van ECK Associates Corp’s holdings in Paycom Software were worth $1,748,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. International Assets Investment Management LLC raised its holdings in Paycom Software by 16,173.6% in the fourth quarter. International Assets Investment Management LLC now owns 787,803 shares of the software maker’s stock valued at $162,855,000 after acquiring an additional 782,962 shares in the last quarter. Meritage Group LP acquired a new stake in Paycom Software in the third quarter valued at approximately $103,800,000. Boston Trust Walden Corp acquired a new stake in Paycom Software in the fourth quarter valued at approximately $48,865,000. DSM Capital Partners LLC acquired a new stake in Paycom Software in the third quarter valued at approximately $60,077,000. Finally, American Century Companies Inc. raised its holdings 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 in the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Paycom Software Price Performance

NYSE:PAYC opened at $172.26 on Thursday. The firm’s fifty day moving average price is $188.87 and its 200 day moving average price is $192.02. Paycom Software, Inc. has a 1-year low of $146.15 and a 1-year high of $374.04. The firm has a market cap of $10.01 billion, a price-to-earnings ratio of 20.98, a price-to-earnings-growth ratio of 2.84 and a beta of 1.17.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings data on Wednesday, February 7th. The software maker reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.15. Paycom Software had a net margin of 26.91% and a return on equity of 32.84%. The firm had revenue of $434.60 million for the quarter, compared to analyst estimates of $422.50 million. During the same period last year, the firm posted $1.38 EPS. Paycom Software’s quarterly revenue was up 17.3% on a year-over-year basis. As a group, analysts expect that Paycom Software, Inc. will post 5.82 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Tuesday, May 28th will be given a $0.375 dividend. The ex-dividend date of this dividend is Friday, May 24th. This represents a $1.50 dividend on an annualized basis and a yield of 0.87%. Paycom Software’s dividend payout ratio (DPR) is 18.27%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. UBS Group raised their target price 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. Mizuho cut their price objective on shares of Paycom Software from $185.00 to $170.00 and set a “neutral” rating on the stock in a report on Monday. Citigroup cut their price objective on shares of Paycom Software from $196.00 to $193.00 and set a “neutral” rating on the stock in a report on Thursday, May 2nd. JPMorgan Chase & Co. raised their price objective on shares of Paycom Software from $165.00 to $175.00 and gave the stock a “neutral” rating in a report on Thursday, May 2nd. Finally, Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a report on Thursday, May 2nd. Sixteen investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Paycom Software presently has an average rating of “Hold” and a consensus price target 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.