Sumitomo Mitsui DS Asset Management Company Ltd Has $1.34 Million Position in Paycom Software, Inc. (NYSE:PAYC)

Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Paycom Software, Inc. (NYSE:PAYC) by 38.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,516 shares of the software maker’s stock after buying an additional 1,797 shares during the period. 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 and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Sylebra Capital LLC grew its holdings in Paycom Software by 0.3% during the 3rd quarter. Sylebra Capital LLC now owns 1,962,468 shares of the software maker’s stock worth $326,888,000 after acquiring an additional 5,000 shares during the period. Geode Capital Management LLC grew its stake in Paycom Software by 3.3% during the third quarter. Geode Capital Management LLC now owns 1,426,920 shares of the software maker’s stock worth $237,015,000 after purchasing an additional 45,404 shares during the period. FMR LLC increased its holdings in Paycom Software by 55.0% in the third quarter. FMR LLC now owns 1,007,919 shares of the software maker’s stock worth $167,889,000 after purchasing an additional 357,723 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in Paycom Software by 1.0% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 627,510 shares of the software maker’s stock valued at $104,524,000 after buying an additional 6,488 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Paycom Software by 45.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 486,462 shares of the software maker’s stock worth $81,030,000 after buying an additional 151,807 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on PAYC shares. Jefferies Financial Group boosted 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. Barclays dropped their price target on Paycom Software from $229.00 to $221.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. Mizuho raised their price objective on Paycom Software from $190.00 to $210.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Piper Sandler lifted their price target on shares of Paycom Software from $160.00 to $191.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Finally, StockNews.com upgraded shares of Paycom Software from a “hold” rating to a “buy” rating in a research note on Friday, January 31st. Ten analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $204.75.

Paycom Software Price Performance

PAYC opened at $203.04 on Wednesday. Paycom Software, Inc. has a 1 year low of $139.50 and a 1 year high of $242.74. The firm’s fifty day moving average price is $212.25 and its two-hundred day moving average price is $190.99. The company has a market capitalization of $11.71 billion, a price-to-earnings ratio of 24.43, a P/E/G ratio of 2.81 and a beta of 1.15.

Paycom Software Announces Dividend

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

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.