New World Advisors LLC Acquires Shares of 1,085 Paycom Software, Inc. (NYSE:PAYC)

New World Advisors LLC acquired a new stake in shares of Paycom Software, Inc. (NYSE:PAYC) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 1,085 shares of the software maker’s stock, valued at approximately $222,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brooklyn Investment Group bought a new stake in shares of Paycom Software during the third quarter valued at approximately $28,000. Pin Oak Investment Advisors Inc. increased its holdings in shares of Paycom Software by 73.3% during the third quarter. Pin Oak Investment Advisors Inc. now owns 182 shares of the software maker’s stock valued at $30,000 after acquiring an additional 77 shares in the last quarter. First Horizon Advisors Inc. grew its holdings in Paycom Software by 821.7% during the third quarter. First Horizon Advisors Inc. now owns 212 shares of the software maker’s stock worth $35,000 after buying an additional 189 shares in the last quarter. Blue Trust Inc. grew its holdings in Paycom Software by 277.1% during the third quarter. Blue Trust Inc. now owns 264 shares of the software maker’s stock worth $44,000 after buying 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 worth $79,000. Institutional investors own 87.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Piper Sandler upped their price target on Paycom Software from $191.00 to $224.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Barclays decreased their price target on Paycom Software from $229.00 to $221.00 and set an “equal weight” rating for the company in a report on Thursday, January 23rd. TD Cowen upped their price target on Paycom Software from $193.00 to $248.00 and gave the stock a “hold” rating in a report on Monday, December 9th. Jefferies Financial Group upped their price target on Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. Finally, JPMorgan Chase & Co. upped their price target on Paycom Software from $185.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Eleven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $209.22.

Paycom Software Price Performance

Shares of NYSE PAYC opened at $213.18 on Monday. Paycom Software, Inc. has a one year low of $139.50 and a one year high of $242.74. The business’s fifty day moving average price is $207.92 and its 200-day moving average price is $194.07. The stock has a market capitalization of $12.21 billion, a PE ratio of 23.95, a P/E/G ratio of 2.40 and a beta of 1.15.

Paycom Software (NYSE:PAYC) last issued 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, equities analysts expect that Paycom Software, Inc. will post 7.15 EPS for the current fiscal year.

Paycom Software Dividend Announcement

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