CIBC Asset Management Inc Grows Stock Position in Paycom Software, Inc. (NYSE:PAYC)

CIBC Asset Management Inc increased its holdings in Paycom Software, Inc. (NYSE:PAYC) by 4.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,726 shares of the software maker’s stock after buying an additional 348 shares during the quarter. CIBC Asset Management Inc’s holdings in Paycom Software were worth $1,584,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Brooklyn Investment Group purchased a new position in shares of Paycom Software during the 3rd quarter worth $28,000. Pin Oak Investment Advisors Inc. increased its stake in shares of Paycom Software by 73.3% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 182 shares of the software maker’s stock worth $30,000 after purchasing an additional 77 shares in the last quarter. First Horizon Advisors Inc. raised its holdings in Paycom Software by 821.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 212 shares of the software maker’s stock worth $35,000 after purchasing an additional 189 shares during the period. Blue Trust Inc. lifted its position in Paycom Software by 277.1% during the third quarter. Blue Trust Inc. now owns 264 shares of the software maker’s stock valued at $44,000 after purchasing an additional 194 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in Paycom Software during the third quarter valued at about $79,000. 87.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Mizuho lifted their price objective on Paycom Software from $190.00 to $210.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Piper Sandler lifted their price target on shares of Paycom Software from $191.00 to $224.00 and gave the company a “neutral” rating in a report on Friday, February 14th. BMO Capital Markets increased their price objective on shares of Paycom Software from $183.00 to $197.00 and gave the stock a “market perform” rating in a research note on Thursday, October 31st. Citigroup decreased their price objective on shares of Paycom Software from $234.00 to $221.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Finally, StockNews.com raised shares of Paycom Software from a “hold” rating to a “buy” rating in a report on Friday, January 31st. Eleven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $209.22.

Paycom Software Stock Down 0.6 %

PAYC opened at $213.18 on Friday. Paycom Software, Inc. has a 52 week low of $139.50 and a 52 week high of $242.74. The firm has a 50-day simple moving average of $208.35 and a two-hundred day simple moving average of $193.15. The company has a market capitalization of $12.29 billion, a PE ratio of 23.95, a price-to-earnings-growth ratio of 2.42 and a beta of 1.15.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings results on Wednesday, February 12th. The software maker reported $2.02 EPS for the quarter, beating analysts’ consensus estimates of $1.99 by $0.03. Paycom Software had a return on equity of 33.53% and a net margin of 26.66%. As a group, sell-side analysts expect that Paycom Software, Inc. will post 7.15 earnings per share for the current year.

Paycom Software Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 10th will be paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date of this dividend is Monday, March 10th. Paycom Software’s payout ratio is 16.85%.

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.