Fisher Asset Management LLC Raises Holdings in Paycom Software, Inc. (NYSE:PAYC)

Fisher Asset Management LLC grew its position in shares of Paycom Software, Inc. (NYSE:PAYC) by 9.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 86,546 shares of the software maker’s stock after buying an additional 7,178 shares during the period. Fisher Asset Management LLC’s holdings in Paycom Software were worth $17,739,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in PAYC. Brooklyn Investment Group purchased a new stake in Paycom Software during the 3rd quarter worth about $28,000. Pin Oak Investment Advisors Inc. lifted its holdings in Paycom Software by 73.3% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 182 shares of the software maker’s stock worth $30,000 after purchasing an additional 77 shares in the last quarter. IFP Advisors Inc lifted its holdings in Paycom Software by 635.7% during the 4th quarter. IFP Advisors Inc now owns 206 shares of the software maker’s stock worth $43,000 after purchasing an additional 178 shares in the last quarter. First Horizon Advisors Inc. lifted its holdings in Paycom Software by 821.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 212 shares of the software maker’s stock worth $35,000 after purchasing an additional 189 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in Paycom Software by 33.3% during the 4th quarter. Blue Trust Inc. now owns 352 shares of the software maker’s stock worth $72,000 after purchasing an additional 88 shares in the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PAYC. JPMorgan Chase & Co. upped their target price on Paycom Software from $185.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Stifel Nicolaus decreased their target price on Paycom Software from $215.00 to $187.00 and set a “hold” rating on the stock in a research note on Thursday, February 13th. Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a research note on Thursday, February 13th. Mizuho upped their target price on Paycom Software from $190.00 to $210.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. Finally, Citigroup decreased their target price on Paycom Software from $234.00 to $221.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Eleven research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $209.22.

Paycom Software Price Performance

PAYC opened at $220.37 on Tuesday. The stock’s 50 day simple moving average is $208.28 and its 200 day simple moving average is $196.68. Paycom Software, Inc. has a 1 year low of $139.50 and a 1 year high of $242.74. The firm has a market cap of $12.62 billion, a price-to-earnings ratio of 24.76, a PEG ratio of 2.40 and a beta of 1.15.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings results on Wednesday, February 12th. The software maker reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.03. Paycom Software had a return on equity of 33.53% and a net margin of 26.66%. As a group, sell-side analysts anticipate that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 10th will be given a dividend of $0.375 per share. The ex-dividend date is Monday, March 10th. This represents a $1.50 annualized dividend and a yield of 0.68%. Paycom Software’s payout ratio is 16.85%.

Insider Buying and Selling

In other Paycom Software news, COO Randall Peck sold 3,600 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $212.19, for a total value of $763,884.00. Following the completion of the sale, the chief operating officer now owns 50,665 shares in the company, valued at approximately $10,750,606.35. This trade represents a 6.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director J C. Watts, Jr. sold 500 shares of the firm’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $218.22, for a total value of $109,110.00. Following the completion of the transaction, the director now owns 7,730 shares of the company’s stock, valued at approximately $1,686,840.60. The trade was a 6.08 % decrease in their position. The disclosure for this sale can be found here. 14.50% of the stock is owned by corporate insiders.

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.