Sumitomo Mitsui DS Asset Management Company Ltd Increases Stake in Paycom Software, Inc. $PAYC

Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Paycom Software, Inc. (NYSE:PAYC) by 2.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,654 shares of the software maker’s stock after buying an additional 149 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Paycom Software were worth $1,540,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC purchased a new stake in shares of Paycom Software in the fourth quarter worth $638,000. Woodline Partners LP purchased a new stake in shares of Paycom Software in the fourth quarter worth $1,377,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Paycom Software by 20.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 296,763 shares of the software maker’s stock worth $60,828,000 after purchasing an additional 49,422 shares in the last quarter. GTS Securities LLC increased its stake in shares of Paycom Software by 213.2% in the fourth quarter. GTS Securities LLC now owns 4,613 shares of the software maker’s stock worth $946,000 after purchasing an additional 3,140 shares in the last quarter. Finally, Putney Financial Group LLC purchased a new stake in shares of Paycom Software in the fourth quarter worth $39,000. 87.77% of the stock is owned by hedge funds and other institutional investors.

Paycom Software Stock Performance

NYSE:PAYC opened at $216.32 on Monday. The company has a fifty day moving average of $225.68 and a two-hundred day moving average of $229.73. The stock has a market capitalization of $12.52 billion, a PE ratio of 29.27, a P/E/G ratio of 2.38 and a beta of 0.81. Paycom Software, Inc. has a fifty-two week low of $158.03 and a fifty-two week high of $267.76.

Paycom Software (NYSE:PAYC) last released its earnings results on Wednesday, August 6th. The software maker reported $2.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.28. Paycom Software had a net margin of 21.22% and a return on equity of 25.40%. The business had revenue of $483.60 million during the quarter, compared to analyst estimates of $472.00 million. During the same quarter in the prior year, the firm earned $1.62 earnings per share. The company’s revenue for the quarter was up 10.5% compared to the same quarter last year. Research analysts forecast that Paycom Software, Inc. will post 7.15 earnings per share for the current year.

Paycom Software Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 8th. Investors of record on Monday, August 25th were issued a $0.375 dividend. The ex-dividend date of this dividend was Monday, August 25th. This represents a $1.50 annualized dividend and a yield of 0.7%. Paycom Software’s dividend payout ratio (DPR) is 20.30%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PAYC. Cantor Fitzgerald upgraded shares of Paycom Software to a “hold” rating in a research report on Thursday, September 11th. Barclays increased their price objective on shares of Paycom Software from $240.00 to $250.00 and gave the company an “equal weight” rating in a research report on Thursday, August 7th. JPMorgan Chase & Co. increased their price objective on shares of Paycom Software from $215.00 to $235.00 and gave the company a “neutral” rating in a research report on Thursday, August 7th. BMO Capital Markets increased their price objective on shares of Paycom Software from $244.00 to $258.00 and gave the company a “market perform” rating in a research report on Thursday, August 7th. Finally, KeyCorp increased their price objective on shares of Paycom Software from $285.00 to $290.00 and gave the company an “overweight” rating in a research report on Thursday, August 7th. Two investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $238.58.

Insiders Place Their Bets

In related news, insider Bradley Scott Smith sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $223.27, for a total value of $334,905.00. Following the sale, the insider owned 24,533 shares of the company’s stock, valued at $5,477,482.91. This trade represents a 5.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 10.90% of the stock is currently owned by company insiders.

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.