Howard Wealth Management LLC Invests $246,000 in Paycom Software, Inc. (NYSE:PAYC)

Howard Wealth Management LLC bought a new stake in Paycom Software, Inc. (NYSE:PAYC - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 1,200 shares of the software maker's stock, valued at approximately $246,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nisa Investment Advisors LLC boosted its holdings in shares of Paycom Software by 51.4% in the third quarter. Nisa Investment Advisors LLC now owns 2,666 shares of the software maker's stock valued at $444,000 after acquiring an additional 905 shares during the period. JPMorgan Chase & Co. boosted its stake in Paycom Software by 14.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 326,018 shares of the software maker's stock worth $54,305,000 after purchasing an additional 41,187 shares during the period. Principal Financial Group Inc. boosted its stake in Paycom Software by 9.3% during the 3rd quarter. Principal Financial Group Inc. now owns 65,809 shares of the software maker's stock worth $10,962,000 after purchasing an additional 5,574 shares during the period. FMR LLC grew its position in Paycom Software by 55.0% during the 3rd quarter. FMR LLC now owns 1,007,919 shares of the software maker's stock worth $167,889,000 after purchasing an additional 357,723 shares during the last quarter. Finally, Nordea Investment Management AB increased its stake in Paycom Software by 3.5% in the fourth quarter. Nordea Investment Management AB now owns 204,377 shares of the software maker's stock valued at $41,952,000 after purchasing an additional 6,916 shares during the period. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on PAYC shares. Piper Sandler increased their target price on shares of Paycom Software from $191.00 to $224.00 and gave the stock a "neutral" rating in a research note on Friday, February 14th. Citigroup cut their price target on Paycom Software from $234.00 to $221.00 and set a "neutral" rating for the company in a research note 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. BMO Capital Markets raised their target price on shares of Paycom Software from $183.00 to $197.00 and gave the stock a "market perform" rating in a research note on Thursday, October 31st. Finally, TD Cowen boosted their price target on shares of Paycom Software from $193.00 to $248.00 and gave the stock a "hold" rating in a research note on Monday, December 9th. Eleven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $209.22.

Paycom Software Trading Up 1.1 %

Shares of NYSE:PAYC traded up $2.29 during trading on Wednesday, hitting $215.86. 469,682 shares of the stock were exchanged, compared to its average volume of 552,146. The company has a market cap of $12.45 billion, a PE ratio of 24.25, a P/E/G ratio of 2.34 and a beta of 1.15. The company has a fifty day moving average price of $208.86 and a two-hundred day moving average price of $193.01. 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 posted its earnings results on Wednesday, February 12th. The software maker reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.99 by $0.03. Paycom Software had a return on equity of 33.53% and a net margin of 26.66%. Equities research analysts anticipate that Paycom Software, Inc. will post 7.16 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 10th will be given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date is Monday, March 10th. Paycom Software's payout ratio is currently 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.