Fisher Asset Management LLC Grows Stock Position in Paycom Software, Inc. (NYSE:PAYC)

Fisher Asset Management LLC boosted its position in shares of Paycom Software, Inc. (NYSE:PAYC) by 1.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 217,117 shares of the software maker’s stock after buying an additional 3,760 shares during the quarter. Fisher Asset Management LLC owned 0.36% of Paycom Software worth $44,882,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Hexagon Capital Partners LLC lifted its stake in Paycom Software by 333.3% in the fourth quarter. Hexagon Capital Partners LLC now owns 130 shares of the software maker’s stock worth $27,000 after purchasing an additional 100 shares during the last quarter. Cary Street Partners Investment Advisory LLC grew its position in Paycom Software by 83.5% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 156 shares of the software maker’s stock valued at $40,000 after acquiring an additional 71 shares during the last quarter. GAMMA Investing LLC purchased a new stake in Paycom Software in the fourth quarter worth $49,000. Headlands Technologies LLC bought a new stake in shares of Paycom Software during the third quarter worth $52,000. Finally, Operose Advisors LLC purchased a new stake in shares of Paycom Software during the third quarter valued at $55,000. Institutional investors own 87.77% of the company’s stock.

Paycom Software Stock Performance

Shares of PAYC stock opened at $171.29 on Friday. Paycom Software, Inc. has a fifty-two week low of $146.15 and a fifty-two week high of $374.04. The firm has a market capitalization of $9.86 billion, a PE ratio of 20.86, a P/E/G ratio of 2.84 and a beta of 1.17. The stock’s 50-day simple moving average is $189.34 and its 200-day simple moving average is $194.47.

Paycom Software (NYSE:PAYC) last issued its quarterly earnings results on Wednesday, February 7th. The software maker reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.15. Paycom Software had a net margin of 26.91% and a return on equity of 32.84%. The company had revenue of $434.60 million for the quarter, compared to the consensus estimate of $422.50 million. During the same quarter in the prior year, the company earned $1.38 EPS. Paycom Software’s quarterly revenue was up 17.3% on a year-over-year basis. Sell-side analysts forecast that Paycom Software, Inc. will post 5.73 earnings per share for the current year.

Paycom Software Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Tuesday, May 28th will be given a dividend of $0.375 per share. The ex-dividend date is Friday, May 24th. This represents a $1.50 dividend on an annualized basis and a yield of 0.88%. Paycom Software’s dividend payout ratio is presently 18.27%.

Analysts Set New Price Targets

PAYC has been the topic of a number of recent research reports. UBS Group increased their price objective on shares of Paycom Software from $235.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, January 10th. Barclays dropped their price objective on Paycom Software from $193.00 to $184.00 and set an “equal weight” rating on the stock in a research report on Thursday. BMO Capital Markets cut their target price on Paycom Software from $200.00 to $190.00 and set a “market perform” rating on the stock in a research note on Thursday. JPMorgan Chase & Co. raised their price target on shares of Paycom Software from $165.00 to $175.00 and gave the company a “neutral” rating in a report on Thursday. Finally, BTIG Research initiated coverage on shares of Paycom Software in a research report on Tuesday, February 6th. They issued a “neutral” rating on the stock. Sixteen research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Paycom Software currently has a consensus rating of “Hold” and a consensus target price of $247.25.

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.