Strategic Financial Concepts LLC Makes New Investment in Paycom Software, Inc. (NYSE:PAYC)

Strategic Financial Concepts LLC purchased a new stake in Paycom Software, Inc. (NYSE:PAYC - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,218 shares of the software maker's stock, valued at approximately $250,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Congress Asset Management Co. purchased a new position in shares of Paycom Software during the fourth quarter worth about $200,000. Howard Wealth Management LLC purchased a new stake in Paycom Software in the 4th quarter valued at approximately $246,000. PUREfi Wealth LLC purchased a new stake in Paycom Software in the 4th quarter valued at approximately $287,000. Valeo Financial Advisors LLC boosted its holdings in Paycom Software by 7.4% in the 4th quarter. Valeo Financial Advisors LLC now owns 2,170 shares of the software maker's stock valued at $445,000 after purchasing an additional 149 shares in the last quarter. Finally, Vontobel Holding Ltd. purchased a new stake in Paycom Software in the 4th quarter valued at approximately $214,000. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PAYC. Barclays reduced their price target on shares of Paycom Software from $229.00 to $221.00 and set an "equal weight" rating for the company in a research report on Thursday, January 23rd. Piper Sandler lifted their price target on shares of Paycom Software from $191.00 to $224.00 and gave the company a "neutral" rating in a research report on Friday, February 14th. Citigroup reduced their price target on shares of Paycom Software from $234.00 to $221.00 and set a "neutral" rating for the company in a research report on Thursday, January 16th. StockNews.com upgraded shares of Paycom Software from a "hold" rating to a "buy" rating in a research report on Friday, January 31st. Finally, Needham & Company LLC restated a "hold" rating on shares of Paycom Software in a research report on Thursday, February 13th. Eleven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Paycom Software currently has a consensus rating of "Hold" and a consensus target price of $209.22.

Paycom Software Trading Down 0.6 %

PAYC stock traded down $1.23 during trading on Friday, reaching $213.18. The stock had a trading volume of 597,496 shares, compared to its average volume of 546,782. Paycom Software, Inc. has a 1-year low of $139.50 and a 1-year high of $242.74. The company has a market capitalization of $12.29 billion, a P/E ratio of 23.95, a PEG ratio of 2.42 and a beta of 1.15. The firm has a fifty day moving average price of $208.35 and a 200 day moving average price of $193.15.

Paycom Software (NYSE:PAYC - Get Free Report) last issued its quarterly earnings data on Wednesday, February 12th. The software maker reported $2.02 EPS for the quarter, topping analysts' consensus estimates of $1.99 by $0.03. Paycom Software had a net margin of 26.66% and a return on equity of 33.53%. Sell-side analysts predict that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 10th will be paid a $0.375 dividend. The ex-dividend date is Monday, March 10th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.70%. Paycom Software's dividend payout ratio (DPR) is presently 16.85%.

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.