abrdn plc Acquires 8,971 Shares of Paycom Software, Inc. (NYSE:PAYC)

abrdn plc grew its holdings in Paycom Software, Inc. (NYSE:PAYC) by 61.8% during the 4th quarter, HoldingsChannel reports. The firm owned 23,488 shares of the software maker’s stock after purchasing an additional 8,971 shares during the quarter. abrdn plc’s holdings in Paycom Software were worth $4,855,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Cary Street Partners Investment Advisory LLC grew its position in Paycom Software by 83.5% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 156 shares of the software maker’s stock worth $40,000 after acquiring an additional 71 shares during the last quarter. Headlands Technologies LLC bought a new stake in Paycom Software during the 3rd quarter worth $52,000. Operose Advisors LLC bought a new stake in Paycom Software during the 3rd quarter worth $55,000. Rakuten Securities Inc. bought a new stake in Paycom Software during the 4th quarter worth $62,000. Finally, Clearstead Advisors LLC grew its position in Paycom Software by 2,536.8% during the 3rd quarter. Clearstead Advisors LLC now owns 501 shares of the software maker’s stock worth $130,000 after acquiring an additional 482 shares during the last quarter. Institutional investors own 87.77% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Citigroup reduced their price objective on Paycom Software from $205.00 to $198.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 31st. UBS Group boosted 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. BTIG Research assumed coverage on Paycom Software in a research report on Tuesday, February 6th. They set a “neutral” rating on the stock. Piper Sandler lifted their target price on Paycom Software from $185.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, February 8th. Finally, JPMorgan Chase & Co. lifted their target price on Paycom Software from $140.00 to $165.00 and gave the stock a “neutral” rating in a report on Thursday, February 8th. Seventeen investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Paycom Software currently has an average rating of “Hold” and a consensus target price of $257.18.

Paycom Software Price Performance

Shares of NYSE:PAYC opened at $188.89 on Friday. The company has a market capitalization of $10.87 billion, a price-to-earnings ratio of 32.02, a P/E/G ratio of 3.22 and a beta of 1.17. The business’s 50-day moving average is $189.82 and its 200-day moving average is $197.06. Paycom Software, Inc. has a 1 year low of $146.15 and a 1 year high of $374.04.

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

Paycom Software Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 18th. Investors of record on Monday, March 4th were given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date was Friday, March 1st. Paycom Software’s payout ratio is 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.