Raymond James & Associates Purchases 3,164 Shares of Paycom Software, Inc. (NYSE:PAYC)

Raymond James & Associates raised its position in shares of Paycom Software, Inc. (NYSE:PAYC) by 25.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,614 shares of the software maker’s stock after acquiring an additional 3,164 shares during the period. Raymond James & Associates’ holdings in Paycom Software were worth $3,228,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Fairfield Bush & CO. acquired a new stake in shares of Paycom Software in the second quarter valued at approximately $27,000. KB Financial Partners LLC acquired a new stake in shares of Paycom Software in the first quarter valued at approximately $28,000. Clear Street Markets LLC raised its position in shares of Paycom Software by 98.0% in the first quarter. Clear Street Markets LLC now owns 97 shares of the software maker’s stock valued at $29,000 after buying an additional 48 shares in the last quarter. Sunbelt Securities Inc. acquired a new stake in shares of Paycom Software in the first quarter valued at approximately $33,000. Finally, Cary Street Partners Investment Advisory LLC raised its position in shares of Paycom Software by 83.5% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 156 shares of the software maker’s stock valued at $40,000 after buying an additional 71 shares in the last quarter. Institutional investors own 87.77% of the company’s stock.

Paycom Software Stock Performance

Shares of NYSE:PAYC opened at $198.00 on Friday. The company has a fifty day moving average of $190.90 and a 200-day moving average of $202.76. The company has a market capitalization of $11.39 billion, a PE ratio of 33.56, a price-to-earnings-growth ratio of 3.49 and a beta of 1.17. Paycom Software, Inc. has a 52-week low of $146.15 and a 52-week high of $374.04.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings results on Wednesday, February 7th. The software maker reported $1.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.78 by $0.15. Paycom Software had a net margin of 20.12% and a return on equity of 24.60%. The company had revenue of $434.60 million during the quarter, compared to the consensus estimate of $422.50 million. During the same period in the prior year, the business earned $1.38 earnings per share. The company’s revenue for the quarter was up 17.3% compared to the same quarter last year. On average, equities analysts forecast that Paycom Software, Inc. will post 5.73 EPS for the current fiscal year.

Paycom Software Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 18th. Investors of record on Monday, March 4th were paid a $0.375 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $1.50 annualized dividend and a dividend yield of 0.76%. Paycom Software’s dividend payout ratio is 25.42%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on PAYC shares. Jefferies Financial Group reiterated a “hold” rating and issued a $195.00 price target on shares of Paycom Software in a research report on Friday, January 5th. Piper Sandler boosted their price objective on shares of Paycom Software from $185.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, February 8th. Citigroup lowered their price objective on shares of Paycom Software from $205.00 to $198.00 and set a “neutral” rating for the company in a research report on Wednesday, January 31st. JPMorgan Chase & Co. boosted their price objective on shares of Paycom Software from $140.00 to $165.00 and gave the company a “neutral” rating in a research report on Thursday, February 8th. Finally, UBS Group boosted their price objective on shares of Paycom Software from $235.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, January 10th. Seventeen analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $257.18.

Paycom Software Profile

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.