Focus Financial Network Inc. Purchases Shares of 1,197 Paycom Software, Inc. (NYSE:PAYC)

Focus Financial Network Inc. acquired a new position in Paycom Software, Inc. (NYSE:PAYC) during the fourth quarter, HoldingsChannel reports. The firm acquired 1,197 shares of the software maker’s stock, valued at approximately $245,000.

Other large investors also recently modified their holdings of the company. Nisa Investment Advisors LLC raised its holdings in Paycom Software by 51.4% in the third quarter. Nisa Investment Advisors LLC now owns 2,666 shares of the software maker’s stock valued at $444,000 after buying an additional 905 shares during the period. JPMorgan Chase & Co. raised its stake in shares of Paycom Software by 14.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 326,018 shares of the software maker’s stock valued at $54,305,000 after acquiring an additional 41,187 shares during the period. Principal Financial Group Inc. raised its stake in shares of Paycom Software by 9.3% in the 3rd quarter. Principal Financial Group Inc. now owns 65,809 shares of the software maker’s stock valued at $10,962,000 after acquiring an additional 5,574 shares during the period. FMR LLC lifted its holdings in shares of Paycom Software by 55.0% during the 3rd quarter. FMR LLC now owns 1,007,919 shares of the software maker’s stock valued at $167,889,000 after acquiring an additional 357,723 shares in the last quarter. Finally, Nordea Investment Management AB boosted its position in Paycom Software by 3.5% during the 4th quarter. Nordea Investment Management AB now owns 204,377 shares of the software maker’s stock worth $41,952,000 after purchasing an additional 6,916 shares during the period. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Paycom Software Stock Performance

NYSE:PAYC opened at $209.72 on Friday. The company has a market capitalization of $12.09 billion, a price-to-earnings ratio of 25.24, a price-to-earnings-growth ratio of 2.81 and a beta of 1.15. Paycom Software, Inc. has a one year low of $139.50 and a one year high of $242.74. The stock has a 50-day simple moving average of $210.84 and a 200 day simple moving average of $191.52.

Paycom Software (NYSE:PAYC) last issued its quarterly earnings results on Wednesday, February 12th. The software maker reported $2.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.99 by $0.03. Paycom Software had a return on equity of 32.90% and a net margin of 25.78%. On average, equities research analysts forecast that Paycom Software, Inc. will post 6.88 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 10th will be issued a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 0.72%. The ex-dividend date of this dividend is Monday, March 10th. Paycom Software’s dividend payout ratio (DPR) is presently 16.85%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on PAYC shares. Mizuho boosted their price objective on Paycom Software from $190.00 to $210.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. StockNews.com upgraded Paycom Software from a “hold” rating to a “buy” rating in a report on Friday, January 31st. Piper Sandler lifted their price objective on shares of Paycom Software from $191.00 to $224.00 and gave the company a “neutral” rating in a research note on Friday. JPMorgan Chase & Co. upped their target price on shares of Paycom Software from $185.00 to $200.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, Citigroup cut their price objective on shares of Paycom Software from $234.00 to $221.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Eleven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $209.22.

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.