Allspring Global Investments Holdings LLC Has $1.31 Million Stock Holdings in Paycom Software, Inc. (NYSE:PAYC)

Allspring Global Investments Holdings LLC decreased its stake in Paycom Software, Inc. (NYSE:PAYC) by 77.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,327 shares of the software maker’s stock after selling 22,066 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Paycom Software were worth $1,308,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Paycom Software by 1.2% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,500 shares of the software maker’s stock worth $1,167,000 after buying an additional 52 shares during the period. HBK Sorce Advisory LLC boosted its stake in Paycom Software by 5.9% in the 4th quarter. HBK Sorce Advisory LLC now owns 986 shares of the software maker’s stock worth $204,000 after purchasing an additional 55 shares during the period. Renaissance Group LLC grew its position in Paycom Software by 1.1% during the 3rd quarter. Renaissance Group LLC now owns 5,391 shares of the software maker’s stock worth $1,398,000 after purchasing an additional 61 shares in the last quarter. Bouvel Investment Partners LLC raised its stake in Paycom Software by 1.0% during the 4th quarter. Bouvel Investment Partners LLC now owns 6,431 shares of the software maker’s stock valued at $1,329,000 after purchasing an additional 63 shares during the period. Finally, Sigma Planning Corp lifted its holdings in shares of Paycom Software by 7.2% in the third quarter. Sigma Planning Corp now owns 1,036 shares of the software maker’s stock valued at $269,000 after purchasing an additional 70 shares in the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Paycom Software Stock Performance

Shares of NYSE:PAYC opened at $186.72 on Tuesday. Paycom Software, Inc. has a 52-week low of $146.15 and a 52-week high of $374.04. The company has a market cap of $10.75 billion, a P/E ratio of 31.65, a P/E/G ratio of 3.13 and a beta of 1.17. The stock’s 50-day moving average is $190.02 and its 200-day moving average is $198.94.

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

Paycom Software Announces Dividend

The business 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. This represents a $1.50 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date of this dividend was Friday, March 1st. Paycom Software’s dividend payout ratio (DPR) is presently 25.42%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Piper Sandler upped their price target on Paycom Software from $185.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, February 8th. Jefferies Financial Group restated a “hold” rating and set a $195.00 price target on shares of Paycom Software in a report on Friday, January 5th. BTIG Research started coverage on shares of Paycom Software in a research note on Tuesday, February 6th. They issued a “neutral” rating on the stock. Citigroup decreased their target price on shares of Paycom Software from $205.00 to $198.00 and set a “neutral” rating for the company in a research note on Wednesday, January 31st. Finally, JPMorgan Chase & Co. upped their price target on shares of Paycom Software from $140.00 to $165.00 and gave the stock a “neutral” rating in a research note on Thursday, February 8th. Seventeen analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $257.18.

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.