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

Raymond James & Associates raised its position in Paycom Software, Inc. (NYSE:PAYC) by 25.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,614 shares of the software maker’s stock after purchasing 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 reporting period.

Several other large investors have also recently bought and sold shares of the company. Alliancebernstein L.P. raised its position in shares of Paycom Software by 59.6% during the 2nd quarter. Alliancebernstein L.P. now owns 2,146,132 shares of the software maker’s stock valued at $689,423,000 after buying an additional 801,539 shares in the last quarter. Morgan Stanley raised its position in shares of Paycom Software by 147.5% during the 4th quarter. Morgan Stanley now owns 1,084,991 shares of the software maker’s stock valued at $336,684,000 after buying an additional 646,679 shares in the last quarter. Meritage Group LP purchased a new stake in shares of Paycom Software during the 3rd quarter valued at $103,800,000. Goldman Sachs Group Inc. raised its position in shares of Paycom Software by 47.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 877,824 shares of the software maker’s stock valued at $304,061,000 after buying an additional 283,892 shares in the last quarter. Finally, DSM Capital Partners LLC purchased a new stake in shares of Paycom Software during the 3rd quarter valued at $60,077,000. 87.77% of the stock is owned by institutional investors.

Paycom Software Trading Down 3.2 %

Shares of PAYC opened at $198.00 on Friday. The firm’s 50-day moving average price is $190.90 and its 200-day moving average price is $202.76. The firm has a market capitalization of $11.39 billion, a price-to-earnings ratio of 33.56, a PEG ratio of 3.49 and a beta of 1.17. 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 earnings results on Wednesday, February 7th. The software maker reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.15. The firm had revenue of $434.60 million for 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 company’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.38 EPS. On average, research 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 dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend was Friday, March 1st. Paycom Software’s payout ratio is currently 25.42%.

Analysts Set New Price Targets

PAYC has been the topic of a number of analyst reports. UBS Group lifted their target price on shares of Paycom Software from $235.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, January 10th. Jefferies Financial Group reiterated a “hold” rating and issued a $195.00 target price on shares of Paycom Software in a research report on Friday, January 5th. Citigroup decreased their target price on shares of Paycom Software from $205.00 to $198.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 31st. Piper Sandler lifted their target price on shares of Paycom Software from $185.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, February 8th. Finally, JPMorgan Chase & Co. lifted their target price 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. Seventeen research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average 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.