Paycom Software, Inc. (NYSE:PAYC) is Riverstone Advisors LLC’s 10th Largest Position

Riverstone Advisors LLC decreased its stake in Paycom Software, Inc. (NYSE:PAYC) by 17.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 26,145 shares of the software maker’s stock after selling 5,652 shares during the period. Paycom Software comprises about 3.5% of Riverstone Advisors LLC’s holdings, making the stock its 10th biggest position. 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 and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of Paycom Software by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 5,799,327 shares of the software maker’s stock worth $1,503,592,000 after purchasing an additional 32,038 shares during the period. Alliancebernstein L.P. boosted its holdings in Paycom Software by 59.6% during the 2nd quarter. Alliancebernstein L.P. now owns 2,146,132 shares of the software maker’s stock valued at $689,423,000 after acquiring an additional 801,539 shares during the period. State Street Corp boosted its holdings in Paycom Software by 2.4% during the 1st quarter. State Street Corp now owns 1,911,316 shares of the software maker’s stock valued at $581,056,000 after acquiring an additional 43,991 shares during the period. Wellington Management Group LLP boosted its holdings in Paycom Software by 8.7% during the 1st quarter. Wellington Management Group LLP now owns 1,359,073 shares of the software maker’s stock valued at $470,756,000 after acquiring an additional 108,505 shares during the period. Finally, American Century Companies Inc. boosted its holdings in Paycom Software by 18.8% during the 3rd quarter. American Century Companies Inc. now owns 1,139,511 shares of the software maker’s stock valued at $295,441,000 after acquiring an additional 180,202 shares during the period. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. JPMorgan Chase & Co. boosted their price objective on Paycom Software from $140.00 to $165.00 and gave the company a “neutral” rating in a report on Thursday, February 8th. Jefferies Financial Group reiterated a “hold” rating and issued a $195.00 target price on shares of Paycom Software in a report on Friday, January 5th. UBS Group upped their target price on Paycom Software from $235.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, January 10th. Piper Sandler upped their target price on Paycom Software from $185.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, February 8th. Finally, BTIG Research assumed coverage on Paycom Software in a report on Tuesday, February 6th. They issued a “neutral” rating for the company. Seventeen analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $257.18.

Paycom Software Stock Performance

NYSE:PAYC traded down $2.20 during mid-day trading on Tuesday, reaching $190.53. The stock had a trading volume of 386,637 shares, compared to its average volume of 854,654. The firm has a market capitalization of $10.97 billion, a price-to-earnings ratio of 32.19, a PEG ratio of 3.38 and a beta of 1.17. Paycom Software, Inc. has a twelve month low of $146.15 and a twelve month high of $374.04. The business has a 50 day simple moving average of $190.87 and a 200 day simple moving average of $201.56.

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

Paycom Software Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 18th. Shareholders of record on Monday, March 4th were issued a $0.375 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $1.50 annualized dividend and a yield of 0.79%. Paycom Software’s dividend payout ratio (DPR) is presently 25.42%.

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.