Mackenzie Financial Corp Buys 7,734 Shares of Paycom Software, Inc. (NYSE:PAYC)

Mackenzie Financial Corp raised its stake in Paycom Software, Inc. (NYSE:PAYC) by 176.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,111 shares of the software maker’s stock after buying an additional 7,734 shares during the period. Mackenzie Financial Corp’s holdings in Paycom Software were worth $2,504,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in PAYC. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Paycom Software by 1.2% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,500 shares of the software maker’s stock valued at $1,167,000 after acquiring an additional 52 shares during the last quarter. HBK Sorce Advisory LLC increased its position in shares of Paycom Software by 5.9% during the fourth quarter. HBK Sorce Advisory LLC now owns 986 shares of the software maker’s stock worth $204,000 after buying an additional 55 shares during the period. Renaissance Group LLC increased its position in shares of Paycom Software by 1.1% during the third quarter. Renaissance Group LLC now owns 5,391 shares of the software maker’s stock worth $1,398,000 after buying an additional 61 shares during the period. Bouvel Investment Partners LLC raised its stake in Paycom Software by 1.0% during the fourth quarter. Bouvel Investment Partners LLC now owns 6,431 shares of the software maker’s stock worth $1,329,000 after buying an additional 63 shares during the last quarter. Finally, Optas LLC lifted its holdings in Paycom Software by 7.0% in the fourth quarter. Optas LLC now owns 998 shares of the software maker’s stock valued at $206,000 after buying an additional 65 shares during the period. Institutional investors own 87.77% of the company’s stock.

Analyst Upgrades and Downgrades

PAYC has been the subject of several research analyst reports. UBS Group lifted their price objective on Paycom Software from $235.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, January 10th. Citigroup cut their price target on Paycom Software from $205.00 to $198.00 and set a “neutral” rating on the stock in a report on Wednesday, January 31st. JPMorgan Chase & Co. raised their price objective on shares of Paycom Software from $140.00 to $165.00 and gave the stock a “neutral” rating in a research report on Thursday, February 8th. Piper Sandler boosted their target price 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. Finally, Jefferies Financial Group restated a “hold” rating and issued a $195.00 price target on shares of Paycom Software in a report on Friday, January 5th. Seventeen investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $257.18.

Paycom Software Trading Up 1.9 %

Shares of Paycom Software stock opened at $186.72 on Tuesday. The company has a market capitalization of $10.75 billion, a P/E ratio of 31.65, a price-to-earnings-growth ratio of 3.13 and a beta of 1.17. The stock has a fifty day simple moving average of $190.02 and a 200 day simple moving average of $198.94. Paycom Software, Inc. has a 12-month low of $146.15 and a 12-month high of $374.04.

Paycom Software (NYSE:PAYC) last posted its 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 firm had revenue of $434.60 million during the quarter, compared to analyst estimates of $422.50 million. During the same quarter in the prior year, the business posted $1.38 EPS. The business’s revenue was up 17.3% compared to the same quarter last year. On average, analysts predict that Paycom Software, Inc. will post 5.73 EPS for the current year.

Paycom Software Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 18th. Shareholders of record on Monday, March 4th were given a dividend of $0.375 per share. The ex-dividend date was Friday, March 1st. This represents a $1.50 annualized dividend and a dividend yield of 0.80%. Paycom Software’s dividend payout ratio is currently 25.42%.

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.