Paycom Software, Inc. $PAYC Shares Bought by CIBC Asset Management Inc

CIBC Asset Management Inc grew its stake in Paycom Software, Inc. (NYSE:PAYC) by 70.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 11,775 shares of the software maker’s stock after buying an additional 4,879 shares during the quarter. CIBC Asset Management Inc’s holdings in Paycom Software were worth $1,876,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Goldman Sachs Group Inc. lifted its holdings in Paycom Software by 5.2% in the fourth quarter. Goldman Sachs Group Inc. now owns 552,470 shares of the software maker’s stock valued at $88,042,000 after acquiring an additional 27,069 shares during the period. Dynasty Wealth Management LLC boosted its position in Paycom Software by 3.7% in the 4th quarter. Dynasty Wealth Management LLC now owns 3,381 shares of the software maker’s stock worth $539,000 after purchasing an additional 121 shares in the last quarter. MUFG Securities EMEA plc grew its stake in shares of Paycom Software by 109.1% during the 4th quarter. MUFG Securities EMEA plc now owns 2,003 shares of the software maker’s stock worth $319,000 after purchasing an additional 1,045 shares during the period. Sfmg LLC increased its holdings in shares of Paycom Software by 94.4% during the 4th quarter. Sfmg LLC now owns 1,983 shares of the software maker’s stock valued at $316,000 after purchasing an additional 963 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Paycom Software during the 4th quarter valued at approximately $5,749,000. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Paycom Software Stock Down 1.2%

PAYC opened at $135.97 on Tuesday. The company has a market cap of $6.48 billion, a PE ratio of 15.72, a price-to-earnings-growth ratio of 1.19 and a beta of 0.79. Paycom Software, Inc. has a twelve month low of $104.90 and a twelve month high of $265.91. The company has a 50-day moving average price of $130.14 and a 200 day moving average price of $139.30. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.83.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings data on Wednesday, May 6th. The software maker reported $3.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.99 by $0.16. Paycom Software had a return on equity of 28.34% and a net margin of 22.44%.The company had revenue of $571.80 million for the quarter, compared to analysts’ expectations of $564.37 million. During the same period in the previous year, the firm posted $2.80 EPS. Paycom Software’s revenue was up 7.8% compared to the same quarter last year. Sell-side analysts expect that Paycom Software, Inc. will post 9.16 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 8th. Stockholders of record on Tuesday, May 26th were paid a $0.375 dividend. The ex-dividend date of this dividend was Tuesday, May 26th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.1%. Paycom Software’s payout ratio is currently 17.34%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PAYC. Zacks Research raised shares of Paycom Software from a “hold” rating to a “strong-buy” rating in a report on Monday, May 18th. Mizuho lifted their price objective on shares of Paycom Software from $120.00 to $130.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Paycom Software in a research report on Friday, May 1st. UBS Group lowered their target price on shares of Paycom Software from $210.00 to $183.00 and set a “buy” rating on the stock in a research note on Tuesday, April 21st. Finally, BMO Capital Markets raised their target price on Paycom Software from $137.00 to $145.00 and gave the company a “market perform” rating in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Paycom Software has an average rating of “Hold” and an average target price of $159.67.

Paycom Software Profile

Paycom Software, Inc (NYSE: PAYC) is a cloud-based human capital management (HCM) software provider that delivers an end-to-end solution for human resources, payroll, talent acquisition, time and labor management, and talent management. Its single-database platform enables organizations to process payroll, track time, administer benefits, and manage recruiting and employee development through a unified system. Paycom’s software is designed to streamline administrative tasks, improve data accuracy, and provide real-time reporting and analytics to support strategic HR decisions.

The company’s core offerings include payroll processing with built-in tax compliance, employee self-service functionality, automated time tracking, and customizable talent acquisition tools that allow employers to create and post job requisitions, screen candidates, and conduct onboarding electronically.