Headlands Technologies LLC Increases Holdings in Paycom Software, Inc. (NYSE:PAYC)

Headlands Technologies LLC grew its holdings in Paycom Software, Inc. (NYSE:PAYC) by 57.9% during the 4th quarter, Holdings Channel.com reports. The fund owned 319 shares of the software maker’s stock after acquiring an additional 117 shares during the period. Headlands Technologies LLC’s holdings in Paycom Software were worth $66,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in PAYC. AE Wealth Management LLC lifted its position in shares of Paycom Software by 12.7% in the third quarter. AE Wealth Management LLC now owns 1,704 shares of the software maker’s stock valued at $442,000 after acquiring an additional 192 shares in the last quarter. Commonwealth Equity Services LLC lifted its position in shares of Paycom Software by 17.2% in the third quarter. Commonwealth Equity Services LLC now owns 27,629 shares of the software maker’s stock worth $7,164,000 after buying an additional 4,046 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in shares of Paycom Software by 12.0% in the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 13,951 shares of the software maker’s stock worth $3,617,000 after buying an additional 1,500 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in shares of Paycom Software by 31.9% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 24,319 shares of the software maker’s stock worth $6,305,000 after buying an additional 5,888 shares in the last quarter. Finally, Raymond James & Associates lifted its position in shares of Paycom Software by 18.4% in the third quarter. Raymond James & Associates now owns 12,450 shares of the software maker’s stock worth $3,228,000 after buying an additional 1,935 shares in the last quarter. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. UBS Group boosted their target price on Paycom Software from $235.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, January 10th. Piper Sandler boosted their target price on Paycom Software from $185.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, February 8th. Citigroup decreased their target price 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. JPMorgan Chase & Co. boosted their price objective on Paycom Software from $140.00 to $165.00 and gave the stock a “neutral” rating in a research note on Thursday, February 8th. Finally, BTIG Research started coverage on Paycom Software in a research note on Tuesday, February 6th. They set a “neutral” rating on the stock. Seventeen research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $257.18.

Paycom Software Trading Down 2.7 %

Shares of PAYC opened at $187.98 on Wednesday. The firm has a market capitalization of $10.82 billion, a P/E ratio of 31.86, a P/E/G ratio of 3.30 and a beta of 1.17. Paycom Software, Inc. has a 12-month low of $146.15 and a 12-month high of $374.04. The firm has a fifty day moving average price of $189.83 and a 200-day moving average price of $195.41.

Paycom Software (NYSE:PAYC) last issued its earnings results 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 firm had revenue of $434.60 million during the quarter, compared to analyst estimates of $422.50 million. Paycom Software had a net margin of 20.12% and a return on equity of 24.60%. The business’s revenue was up 17.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.38 earnings per share. Analysts predict that Paycom Software, Inc. will post 5.73 earnings per share for the current year.

Paycom Software Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Tuesday, May 28th will be paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 0.80%. Paycom Software’s dividend payout ratio (DPR) is presently 25.42%.

Paycom Software Company 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.