Fisher Asset Management LLC Decreases Stake in Paycom Software, Inc. $PAYC

Fisher Asset Management LLC trimmed its holdings in shares of Paycom Software, Inc. (NYSE:PAYC) by 11.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 72,839 shares of the software maker’s stock after selling 9,680 shares during the quarter. Fisher Asset Management LLC owned 0.13% of Paycom Software worth $16,855,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. SouthState Corp purchased a new stake in Paycom Software during the 1st quarter worth approximately $27,000. S Bank Fund Management Ltd acquired a new stake in shares of Paycom Software during the first quarter worth approximately $37,000. Assetmark Inc. increased its stake in shares of Paycom Software by 651.9% in the second quarter. Assetmark Inc. now owns 203 shares of the software maker’s stock worth $47,000 after buying an additional 176 shares during the last quarter. Brooklyn Investment Group raised its holdings in Paycom Software by 19.4% in the first quarter. Brooklyn Investment Group now owns 240 shares of the software maker’s stock valued at $52,000 after acquiring an additional 39 shares in the last quarter. Finally, Employees Retirement System of Texas acquired a new stake in Paycom Software in the second quarter valued at $55,000. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Wall Street Analyst Weigh In

PAYC has been the subject of several research analyst reports. TD Cowen dropped their target price on shares of Paycom Software from $258.00 to $200.00 and set a “buy” rating for the company in a research report on Thursday, November 6th. Guggenheim initiated coverage on Paycom Software in a research note on Friday, September 26th. They issued a “buy” rating and a $270.00 price target for the company. Mizuho cut their price objective on Paycom Software from $220.00 to $180.00 and set a “neutral” rating on the stock in a research note on Thursday, November 6th. Barclays decreased their target price on Paycom Software from $225.00 to $210.00 and set an “equal weight” rating for the company in a research report on Thursday, November 6th. Finally, KeyCorp lowered their price target on Paycom Software from $290.00 to $250.00 and set an “overweight” rating for the company in a report on Thursday, November 6th. Four equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $225.77.

Insider Transactions at Paycom Software

In other news, insider Bradley Scott Smith sold 1,500 shares of the business’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $223.27, for a total transaction of $334,905.00. Following the completion of the transaction, the insider owned 24,533 shares of the company’s stock, valued at approximately $5,477,482.91. The trade was a 5.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 10.90% of the company’s stock.

Paycom Software Stock Up 1.5%

Shares of NYSE PAYC opened at $164.38 on Thursday. The firm’s 50-day moving average price is $185.19 and its two-hundred day moving average price is $216.83. Paycom Software, Inc. has a 52-week low of $156.50 and a 52-week high of $267.76. The stock has a market capitalization of $9.25 billion, a P/E ratio of 20.45, a P/E/G ratio of 1.76 and a beta of 0.84.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings results on Wednesday, November 5th. The software maker reported $1.94 earnings per share for the quarter, missing analysts’ consensus estimates of $1.96 by ($0.02). The company had revenue of $493.30 million for the quarter, compared to analyst estimates of $492.62 million. Paycom Software had a return on equity of 24.79% and a net margin of 22.65%.The firm’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.67 earnings per share. As a group, equities research analysts expect that Paycom Software, Inc. will post 7.15 earnings per share for the current year.

Paycom Software Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 8th. Shareholders of record on Monday, November 24th will be paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Monday, November 24th. Paycom Software’s dividend payout ratio (DPR) is presently 18.66%.

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.