Mitsubishi UFJ Asset Management Co. Ltd. Boosts Stock Holdings in Paycom Software, Inc. (NYSE:PAYC)

Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Paycom Software, Inc. (NYSE:PAYCFree Report) by 4.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 49,890 shares of the software maker’s stock after acquiring an additional 2,192 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.08% of Paycom Software worth $9,701,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Raymond James & Associates lifted its holdings in shares of Paycom Software by 18.4% during the third quarter. Raymond James & Associates now owns 12,450 shares of the software maker’s stock valued at $3,228,000 after purchasing an additional 1,935 shares in the last quarter. Panagora Asset Management Inc. raised its position in Paycom Software by 4.1% in the 3rd quarter. Panagora Asset Management Inc. now owns 2,356 shares of the software maker’s stock worth $611,000 after buying an additional 93 shares during the last quarter. New Mexico Educational Retirement Board lifted its stake in Paycom Software by 8.5% during the 3rd quarter. New Mexico Educational Retirement Board now owns 2,550 shares of the software maker’s stock valued at $661,000 after acquiring an additional 200 shares during the period. Daiwa Securities Group Inc. boosted its holdings in shares of Paycom Software by 1.8% during the 3rd quarter. Daiwa Securities Group Inc. now owns 5,282 shares of the software maker’s stock valued at $1,369,000 after acquiring an additional 91 shares during the last quarter. Finally, Banque Pictet & Cie SA grew its stake in shares of Paycom Software by 33.8% in the third quarter. Banque Pictet & Cie SA now owns 4,316 shares of the software maker’s stock worth $1,119,000 after acquiring an additional 1,090 shares during the period. 87.77% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on PAYC. Piper Sandler lifted their target price on shares of Paycom Software from $185.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, February 8th. Mizuho cut their price objective on Paycom Software from $185.00 to $170.00 and set a “neutral” rating for the company in a report on Monday, May 6th. Barclays lowered their target price on Paycom Software from $193.00 to $184.00 and set an “equal weight” rating on the stock in a report on Thursday, May 2nd. StockNews.com downgraded Paycom Software from a “buy” rating to a “hold” rating in a research note on Saturday, May 11th. Finally, BMO Capital Markets reduced their price target on shares of Paycom Software from $200.00 to $190.00 and set a “market perform” rating for the company in a research report on Thursday, May 2nd. Seventeen analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Paycom Software currently has a consensus rating of “Hold” and a consensus target price of $246.31.

Read Our Latest Stock Report on PAYC

Paycom Software Trading Up 0.7 %

NYSE:PAYC opened at $182.28 on Friday. The stock has a 50-day moving average price of $188.44 and a 200 day moving average price of $188.91. Paycom Software, Inc. has a 12-month low of $146.15 and a 12-month high of $374.04. The stock has a market capitalization of $10.59 billion, a P/E ratio of 22.20, a P/E/G ratio of 2.86 and a beta of 1.17.

Paycom Software Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Tuesday, May 28th will be paid a dividend of $0.375 per share. The ex-dividend date is Friday, May 24th. This represents a $1.50 annualized dividend and a yield of 0.82%. Paycom Software’s payout ratio is 18.27%.

Paycom Software Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Paycom Software (NYSE:PAYC)

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