Sumitomo Mitsui DS Asset Management Company Ltd Raises Position in Paycom Software, Inc. (NYSE:PAYC)

Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Paycom Software, Inc. (NYSE:PAYC) by 38.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,516 shares of the software maker’s stock after purchasing an additional 1,797 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Paycom Software were worth $1,336,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Private Trust Co. NA boosted its position in shares of Paycom Software by 11.2% in the third quarter. Private Trust Co. NA now owns 526 shares of the software maker’s stock valued at $88,000 after acquiring an additional 53 shares during the period. Wrapmanager Inc. raised its position in shares of Paycom Software by 2.6% in the third quarter. Wrapmanager Inc. now owns 2,176 shares of the software maker’s stock worth $362,000 after buying an additional 56 shares in the last quarter. Andina Capital Management LLC boosted its stake in Paycom Software by 4.0% during the third quarter. Andina Capital Management LLC now owns 1,651 shares of the software maker’s stock valued at $275,000 after buying an additional 63 shares during the period. GAMMA Investing LLC grew its position in Paycom Software by 26.7% during the third quarter. GAMMA Investing LLC now owns 323 shares of the software maker’s stock worth $54,000 after buying an additional 68 shares in the last quarter. Finally, Michael S. Ryan Inc. increased its stake in Paycom Software by 2.5% in the 4th quarter. Michael S. Ryan Inc. now owns 2,796 shares of the software maker’s stock worth $573,000 after acquiring an additional 68 shares during the last quarter. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Paycom Software Stock Down 0.8 %

Paycom Software stock opened at $203.04 on Wednesday. The firm has a fifty day simple moving average of $212.25 and a two-hundred day simple moving average of $190.99. Paycom Software, Inc. has a twelve month low of $139.50 and a twelve month high of $242.74. The company has a market capitalization of $11.71 billion, a PE ratio of 24.43, a P/E/G ratio of 2.81 and a beta of 1.15.

Paycom Software Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 10th will be paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date is Monday, March 10th. Paycom Software’s dividend payout ratio (DPR) is presently 18.05%.

Analysts Set New Price Targets

PAYC has been the subject of a number of research analyst reports. Citigroup dropped their price target on Paycom Software from $234.00 to $221.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Jefferies Financial Group lifted their target price on shares of Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. BMO Capital Markets increased their price target on shares of Paycom Software from $183.00 to $197.00 and gave the stock a “market perform” rating in a report on Thursday, October 31st. TD Cowen lifted their price objective on shares of Paycom Software from $193.00 to $248.00 and gave the stock a “hold” rating in a report on Monday, December 9th. Finally, Mizuho increased their target price on Paycom Software from $190.00 to $210.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Ten investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $204.75.

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.