Mitsubishi UFJ Asset Management Co. Ltd. Increases Stake in Paycom Software, Inc. (NYSE:PAYC)

Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Paycom Software, Inc. (NYSE:PAYC) by 20.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 83,554 shares of the software maker’s stock after buying an additional 14,033 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.14% of Paycom Software worth $17,033,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of PAYC. Murphy & Mullick Capital Management Corp purchased a new position in shares of Paycom Software in the 4th quarter valued at approximately $30,000. Keystone Investors PTE Ltd. purchased a new position in Paycom Software during the fourth quarter valued at $391,000. Hershey Financial Advisers LLC purchased a new position in Paycom Software during the fourth quarter valued at $813,000. Corebridge Financial Inc. boosted its holdings in shares of Paycom Software by 0.8% during the 4th quarter. Corebridge Financial Inc. now owns 12,707 shares of the software maker’s stock valued at $2,605,000 after buying an additional 95 shares in the last quarter. Finally, LPL Financial LLC grew its position in shares of Paycom Software by 5.9% in the 4th quarter. LPL Financial LLC now owns 53,126 shares of the software maker’s stock worth $10,889,000 after buying an additional 2,953 shares during the period. 87.77% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Mizuho boosted their price objective on shares of Paycom Software from $190.00 to $210.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. KeyCorp raised Paycom Software from a “sector weight” rating to an “overweight” rating and set a $245.00 price target on the stock in a research report on Monday, March 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a research report on Thursday, February 13th. Stifel Nicolaus dropped their target price on Paycom Software from $215.00 to $187.00 and set a “hold” rating on the stock in a report on Thursday, February 13th. Finally, TD Cowen increased their target price on Paycom Software from $193.00 to $248.00 and gave the stock a “hold” rating in a research note on Monday, December 9th. Twelve investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $212.80.

Paycom Software Stock Performance

PAYC opened at $218.75 on Monday. The company’s 50-day simple moving average is $212.28 and its two-hundred day simple moving average is $203.85. The stock has a market capitalization of $12.53 billion, a P/E ratio of 24.58, a P/E/G ratio of 2.40 and a beta of 1.14. Paycom Software, Inc. has a 52-week low of $139.50 and a 52-week high of $242.74.

Paycom Software (NYSE:PAYC) last issued its earnings results on Wednesday, February 12th. The software maker reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.03. Paycom Software had a net margin of 26.66% and a return on equity of 33.53%. Research analysts forecast that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 24th. Shareholders of record on Monday, March 10th were issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date was Monday, March 10th. Paycom Software’s dividend payout ratio is 16.85%.

Insiders Place Their Bets

In related news, COO Randall Peck sold 3,600 shares of Paycom Software stock in a transaction on Friday, February 21st. The stock was sold at an average price of $212.19, for a total transaction of $763,884.00. Following the transaction, the chief operating officer now directly owns 50,665 shares in the company, valued at approximately $10,750,606.35. The trade was a 6.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Bradley Scott Smith sold 3,000 shares of the business’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $201.01, for a total value of $603,030.00. Following the sale, the insider now directly owns 28,733 shares of the company’s stock, valued at $5,775,620.33. This represents a 9.45 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,100 shares of company stock valued at $1,476,024. Insiders own 14.50% of the company’s stock.

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.