Paycom Software, Inc. (NYSE:PAYC) Stock Position Cut by Riverstone Advisors LLC

Riverstone Advisors LLC trimmed its position in shares of Paycom Software, Inc. (NYSE:PAYC) by 17.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 26,145 shares of the software maker’s stock after selling 5,652 shares during the quarter. Paycom Software comprises about 3.5% of Riverstone Advisors LLC’s investment portfolio, making the stock its 10th largest holding. Riverstone Advisors LLC’s holdings in Paycom Software were worth $5,405,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Fairfield Bush & CO. acquired a new stake in Paycom Software during the 2nd quarter worth about $27,000. KB Financial Partners LLC acquired a new position in Paycom Software in the first quarter valued at approximately $28,000. Clear Street Markets LLC grew its stake in shares of Paycom Software by 98.0% during the 1st quarter. Clear Street Markets LLC now owns 97 shares of the software maker’s stock worth $29,000 after purchasing an additional 48 shares during the period. Sunbelt Securities Inc. acquired a new position in shares of Paycom Software in the 1st quarter valued at $33,000. Finally, Cary Street Partners Investment Advisory LLC grew its position in Paycom Software by 83.5% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 156 shares of the software maker’s stock valued at $40,000 after buying an additional 71 shares during the period. 87.77% of the stock is currently owned by institutional investors.

Paycom Software Stock Performance

PAYC stock traded down $2.20 during mid-day trading on Tuesday, reaching $190.53. The company had a trading volume of 386,637 shares, compared to its average volume of 854,654. The firm has a fifty day simple moving average of $190.87 and a 200 day simple moving average of $201.56. The company has a market capitalization of $10.97 billion, a price-to-earnings ratio of 32.19, a price-to-earnings-growth ratio of 3.38 and a beta of 1.17. Paycom Software, Inc. has a fifty-two week low of $146.15 and a fifty-two week high of $374.04.

Paycom Software (NYSE:PAYC) last released its quarterly earnings data on Wednesday, February 7th. The software maker reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.15. The business had revenue of $434.60 million during the quarter, compared to analysts’ expectations of $422.50 million. Paycom Software had a net margin of 20.12% and a return on equity of 24.60%. The company’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.38 EPS. As a group, analysts predict that Paycom Software, Inc. will post 5.73 earnings per share for the current year.

Paycom Software Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 18th. Stockholders of record on Monday, March 4th were issued a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 0.79%. The ex-dividend date was Friday, March 1st. Paycom Software’s payout ratio is currently 25.42%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on PAYC shares. UBS Group increased their target price on shares of Paycom Software from $235.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, January 10th. BTIG Research began coverage on shares of Paycom Software in a research report on Tuesday, February 6th. They set a “neutral” rating for the company. Citigroup dropped their target price on shares of Paycom Software from $205.00 to $198.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 31st. Jefferies Financial Group restated a “hold” rating and set a $195.00 price target on shares of Paycom Software in a research report on Friday, January 5th. Finally, Piper Sandler boosted their price objective on Paycom Software from $185.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday, February 8th. Seventeen investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $257.18.

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.