State of New Jersey Common Pension Fund D Boosts Stock Position in Paycom Software, Inc. (NYSE:PAYC)

State of New Jersey Common Pension Fund D grew its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 18.2% during the 4th quarter, HoldingsChannel reports. The fund owned 35,356 shares of the software maker’s stock after buying an additional 5,456 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Paycom Software were worth $7,309,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in PAYC. CWM LLC lifted its position in shares of Paycom Software by 34.5% during the third quarter. CWM LLC now owns 1,048 shares of the software maker’s stock worth $272,000 after acquiring an additional 269 shares in the last quarter. AE Wealth Management LLC raised its position in shares of Paycom Software by 12.7% in the third quarter. AE Wealth Management LLC now owns 1,704 shares of the software maker’s stock worth $442,000 after buying an additional 192 shares in the last quarter. Czech National Bank raised its position in shares of Paycom Software by 49.6% in the third quarter. Czech National Bank now owns 8,609 shares of the software maker’s stock worth $2,232,000 after buying an additional 2,855 shares in the last quarter. Linden Thomas Advisory Services LLC raised its position in shares of Paycom Software by 16.9% in the third quarter. Linden Thomas Advisory Services LLC now owns 7,293 shares of the software maker’s stock worth $1,891,000 after buying an additional 1,056 shares in the last quarter. Finally, Copeland Capital Management LLC purchased a new stake in shares of Paycom Software in the third quarter worth $811,000. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Paycom Software Trading Up 1.2 %

Shares of NYSE:PAYC traded up $2.31 on Friday, reaching $188.89. 674,810 shares of the company traded hands, compared to its average volume of 840,017. The business’s 50-day simple moving average is $189.86 and its 200 day simple moving average is $198.20. Paycom Software, Inc. has a 52 week low of $146.15 and a 52 week high of $374.04. The stock has a market capitalization of $10.87 billion, a P/E ratio of 31.62, a price-to-earnings-growth ratio of 3.20 and a beta of 1.17.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings data 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. The firm had revenue of $434.60 million for the quarter, compared to analysts’ expectations of $422.50 million. Paycom Software had a return on equity of 24.60% and a net margin of 20.12%. The company’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same period last year, the firm earned $1.38 earnings per share. Sell-side analysts expect that Paycom Software, Inc. will post 5.73 EPS for the current fiscal year.

Paycom Software Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 18th. Stockholders of record on Monday, March 4th were issued a dividend of $0.375 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.79%. Paycom Software’s dividend payout ratio is currently 25.42%.

Wall Street Analysts Forecast Growth

PAYC has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased their price objective on Paycom Software from $140.00 to $165.00 and gave the stock a “neutral” rating in a research report on Thursday, February 8th. BTIG Research initiated coverage on Paycom Software in a research report on Tuesday, February 6th. They issued a “neutral” rating on the stock. Jefferies Financial Group reiterated a “hold” rating and issued a $195.00 price objective on shares of Paycom Software in a research report on Friday, January 5th. UBS Group increased their target price on Paycom Software from $235.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, January 10th. Finally, Piper Sandler increased their target price on Paycom Software from $185.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, February 8th. Seventeen research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $257.18.

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.