Mitsubishi UFJ Asset Management Co. Ltd. Raises Stock Position in Paycom Software, Inc. (NYSE:PAYC)

Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Paycom Software, Inc. (NYSE:PAYC) by 20.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 83,554 shares of the software maker’s stock after buying an additional 14,033 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Paycom Software were worth $17,033,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Murphy & Mullick Capital Management Corp bought a new stake in Paycom Software during the 4th quarter valued at approximately $30,000. Keystone Investors PTE Ltd. purchased a new stake in Paycom Software during the 4th quarter valued at approximately $391,000. Hershey Financial Advisers LLC bought a new stake in shares of Paycom Software during the fourth quarter valued at approximately $813,000. Corebridge Financial Inc. lifted its holdings in shares of Paycom Software by 0.8% in the fourth quarter. Corebridge Financial Inc. now owns 12,707 shares of the software maker’s stock worth $2,605,000 after buying an additional 95 shares in the last quarter. Finally, LPL Financial LLC boosted its position in shares of Paycom Software by 5.9% during the fourth quarter. LPL Financial LLC now owns 53,126 shares of the software maker’s stock worth $10,889,000 after acquiring an additional 2,953 shares during the last quarter. Institutional investors own 87.77% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on PAYC shares. Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a research note on Thursday, February 13th. JPMorgan Chase & Co. boosted their target price on Paycom Software from $185.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Barclays cut their price target on Paycom Software from $229.00 to $221.00 and set an “equal weight” rating for the company in a report on Thursday, January 23rd. Mizuho upped their price objective on Paycom Software from $190.00 to $210.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Finally, Stifel Nicolaus cut their target price on shares of Paycom Software from $215.00 to $187.00 and set a “hold” rating for the company in a report on Thursday, February 13th. Twelve analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $212.80.

Paycom Software Trading Down 3.1 %

Shares of PAYC opened at $218.75 on Monday. Paycom Software, Inc. has a twelve month low of $139.50 and a twelve month high of $242.74. The company’s fifty day simple moving average is $212.28 and its 200-day simple moving average is $203.85. The company has a market cap of $12.53 billion, a P/E ratio of 24.58, a P/E/G ratio of 2.40 and a beta of 1.14.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings data 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 net margin of 26.66% and a return on equity of 33.53%. Analysts predict that Paycom Software, Inc. will post 7.15 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were given a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend was Monday, March 10th. Paycom Software’s dividend payout ratio (DPR) is presently 16.85%.

Insiders Place Their Bets

In other Paycom Software news, insider Bradley Scott Smith sold 3,000 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $201.01, for a total value of $603,030.00. Following the transaction, the insider now directly owns 28,733 shares in the company, valued at $5,775,620.33. This represents a 9.45 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director J C. Watts, Jr. sold 500 shares of Paycom Software stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $218.22, for a total transaction of $109,110.00. Following the sale, the director now directly owns 7,730 shares of the company’s stock, valued at $1,686,840.60. This represents a 6.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,100 shares of company stock worth $1,476,024 over the last quarter. Company insiders own 14.50% of the company’s stock.

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.