Sumitomo Mitsui Trust Group Inc. Acquires 8,327 Shares of Paycom Software, Inc. (NYSE:PAYC)

Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 8.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 106,883 shares of the software maker’s stock after purchasing an additional 8,327 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Paycom Software were worth $21,908,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of PAYC. GAMMA Investing LLC raised its holdings in Paycom Software by 26.7% during the 3rd quarter. GAMMA Investing LLC now owns 323 shares of the software maker’s stock valued at $54,000 after acquiring an additional 68 shares during the period. CWM LLC boosted its holdings in shares of Paycom Software by 20.1% during the third quarter. CWM LLC now owns 2,008 shares of the software maker’s stock worth $334,000 after purchasing an additional 336 shares during the period. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in shares of Paycom Software by 200.0% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 300 shares of the software maker’s stock worth $50,000 after purchasing an additional 200 shares during the period. Exchange Traded Concepts LLC purchased a new stake in shares of Paycom Software during the third quarter worth about $265,000. Finally, Procyon Advisors LLC bought a new position in Paycom Software in the third quarter worth about $204,000. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on PAYC shares. Piper Sandler increased their price target on shares of Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. BMO Capital Markets raised their price target on shares of Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a research report on Thursday, October 31st. Barclays dropped their target price on shares of Paycom Software from $229.00 to $221.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Jefferies Financial Group raised their target price on shares of Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. Finally, Mizuho lifted their price target on shares of Paycom Software from $190.00 to $210.00 and gave the stock 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 assigned a buy rating to the stock. According to MarketBeat.com, Paycom Software presently has an average rating of “Hold” and a consensus target price of $204.75.

Paycom Software Stock Performance

Shares of NYSE PAYC opened at $207.77 on Thursday. The company has a market cap of $11.98 billion, a P/E ratio of 25.00, a P/E/G ratio of 2.81 and a beta of 1.15. The firm’s fifty day moving average is $211.71 and its two-hundred day moving average is $191.26. Paycom Software, Inc. has a 52-week low of $139.50 and a 52-week high of $242.74.

Paycom Software (NYSE:PAYC) last posted its earnings results on Wednesday, February 12th. The software maker reported $2.02 earnings per share for the quarter, topping analysts’ consensus estimates of $1.99 by $0.03. Paycom Software had a net margin of 25.78% and a return on equity of 32.90%. As a group, analysts forecast that Paycom Software, Inc. will post 6.88 EPS for the current fiscal year.

Paycom Software Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 10th will be paid a dividend of $0.375 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.72%. Paycom Software’s dividend payout ratio is presently 18.05%.

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.