Jennison Associates LLC Sells 191,850 Shares of Paycom Software, Inc. (NYSE:PAYC)

Jennison Associates LLC reduced its stake in Paycom Software, Inc. (NYSE:PAYC) by 67.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 90,969 shares of the software maker’s stock after selling 191,850 shares during the period. Jennison Associates LLC’s holdings in Paycom Software were worth $18,805,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in PAYC. CWM LLC boosted its stake in shares of Paycom Software by 34.5% in the third quarter. CWM LLC now owns 1,048 shares of the software maker’s stock valued at $272,000 after buying an additional 269 shares during the period. AE Wealth Management LLC boosted its stake 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 valued at $442,000 after buying an additional 192 shares during the period. Czech National Bank boosted its stake 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 valued at $2,232,000 after buying an additional 2,855 shares during the period. Linden Thomas Advisory Services LLC raised its position in Paycom Software by 16.9% during the third quarter. Linden Thomas Advisory Services LLC now owns 7,293 shares of the software maker’s stock valued at $1,891,000 after purchasing an additional 1,056 shares in the last quarter. Finally, Copeland Capital Management LLC acquired a new position in Paycom Software during the third quarter valued at approximately $811,000. 87.77% of the stock is currently owned by institutional investors.

Paycom Software Stock Down 0.7 %

Shares of Paycom Software stock opened at $186.58 on Friday. The stock has a market cap of $10.74 billion, a price-to-earnings ratio of 31.62, a P/E/G ratio of 3.20 and a beta of 1.17. The company’s fifty day moving average is $189.86 and its 200 day moving average is $198.20. Paycom Software, Inc. has a twelve month low of $146.15 and a twelve month high of $374.04.

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

Paycom Software Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 18th. Shareholders of record on Monday, March 4th were given a dividend of $0.375 per share. The ex-dividend date was Friday, March 1st. This represents a $1.50 dividend on an annualized basis and a yield of 0.80%. Paycom Software’s dividend payout ratio (DPR) is currently 25.42%.

Analyst Ratings Changes

Several research analysts have commented on the stock. Citigroup lowered their price objective on shares of Paycom Software from $205.00 to $198.00 and set a “neutral” rating for the company in a research report on Wednesday, January 31st. Jefferies Financial Group restated a “hold” rating and set a $195.00 price objective on shares of Paycom Software in a research report on Friday, January 5th. Piper Sandler boosted their price objective on shares of Paycom Software from $185.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, February 8th. UBS Group upped their price target on shares of Paycom Software from $235.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, January 10th. 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 report on Thursday, February 8th. Seventeen analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $257.18.

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.