Focus Financial Network Inc. acquired a new stake in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 1,197 shares of the software maker's stock, valued at approximately $245,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of PAYC. FMR LLC lifted its position in Paycom Software by 55.0% during the third quarter. FMR LLC now owns 1,007,919 shares of the software maker's stock valued at $167,889,000 after acquiring an additional 357,723 shares during the last quarter. International Assets Investment Management LLC lifted its position in Paycom Software by 9,997.5% during the third quarter. International Assets Investment Management LLC now owns 281,315 shares of the software maker's stock valued at $46,859,000 after acquiring an additional 278,529 shares during the last quarter. Confluence Investment Management LLC lifted its position in Paycom Software by 147.3% during the third quarter. Confluence Investment Management LLC now owns 377,876 shares of the software maker's stock valued at $62,943,000 after acquiring an additional 225,081 shares during the last quarter. Strategic Financial Concepts LLC purchased a new stake in Paycom Software during the fourth quarter valued at approximately $42,893,000. Finally, Charles Schwab Investment Management Inc. lifted its position in Paycom Software by 45.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 486,462 shares of the software maker's stock valued at $81,030,000 after acquiring an additional 151,807 shares during the last quarter. 87.77% of the stock is currently owned by institutional investors.
Paycom Software Stock Performance
Shares of NYSE:PAYC traded up $4.50 during midday trading on Tuesday, hitting $213.72. The company's stock had a trading volume of 159,608 shares, compared to its average volume of 537,733. The business's 50 day simple moving average is $209.80 and its 200 day simple moving average is $192.50. The company has a market cap of $12.32 billion, a P/E ratio of 25.71, a price-to-earnings-growth ratio of 2.81 and a beta of 1.15. Paycom Software, Inc. has a 12-month low of $139.50 and a 12-month high of $242.74.
Paycom Software (NYSE:PAYC - Get Free Report) last issued its earnings results 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 25.78% and a return on equity of 32.90%. On average, sell-side analysts predict that Paycom Software, Inc. will post 6.88 earnings per share for the current fiscal year.
Paycom Software Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 10th will be paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date is Monday, March 10th. Paycom Software's dividend payout ratio (DPR) is presently 18.05%.
Analysts Set New Price Targets
PAYC has been the subject of a number of analyst reports. Citigroup decreased their target price 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. Barclays cut their price objective on shares of Paycom Software from $229.00 to $221.00 and set an "equal weight" rating on the stock in a research note on Thursday, January 23rd. TD Cowen raised their price target on shares of Paycom Software from $193.00 to $248.00 and gave the company a "hold" rating in a research report on Monday, December 9th. JPMorgan Chase & Co. raised their price target on shares of Paycom Software from $185.00 to $200.00 and gave the company a "neutral" rating in a research report on Thursday, February 13th. Finally, Mizuho lifted their target price on shares of Paycom Software from $190.00 to $210.00 and gave the company a "neutral" rating in a research report on Friday, December 13th. Eleven analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Paycom Software has a consensus rating of "Hold" and a consensus price target of $209.22.
Check Out Our Latest Research Report on PAYC
Paycom Software 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.
Further Reading
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