Synergy Financial Group LTD Acquires 521 Shares of Paycom Software, Inc. (NYSE:PAYC)

Synergy Financial Group LTD raised its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 24.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,619 shares of the software maker’s stock after buying an additional 521 shares during the quarter. Synergy Financial Group LTD’s holdings in Paycom Software were worth $537,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Brooklyn Investment Group bought a new position in Paycom Software during the third quarter valued at approximately $28,000. Pin Oak Investment Advisors Inc. raised its holdings in shares of Paycom Software by 73.3% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 182 shares of the software maker’s stock worth $30,000 after acquiring an additional 77 shares in the last quarter. First Horizon Advisors Inc. boosted its position in shares of Paycom Software by 821.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 212 shares of the software maker’s stock valued at $35,000 after acquiring an additional 189 shares during the last quarter. IFP Advisors Inc grew its holdings in shares of Paycom Software by 635.7% in the fourth quarter. IFP Advisors Inc now owns 206 shares of the software maker’s stock valued at $43,000 after purchasing an additional 178 shares in the last quarter. Finally, Blue Trust Inc. increased its position in Paycom Software by 277.1% in the third quarter. Blue Trust Inc. now owns 264 shares of the software maker’s stock worth $44,000 after purchasing an additional 194 shares during the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Paycom Software Stock Performance

NYSE PAYC opened at $219.29 on Tuesday. The company has a market cap of $12.56 billion, a PE ratio of 24.64, a P/E/G ratio of 2.40 and a beta of 1.15. Paycom Software, Inc. has a 52-week low of $139.50 and a 52-week high of $242.74. The firm’s 50 day moving average price is $207.67 and its 200-day moving average price is $194.49.

Paycom Software (NYSE:PAYC) last posted its earnings results on Wednesday, February 12th. The software maker reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.03. Paycom Software had a return on equity of 33.53% and a net margin of 26.66%. On average, analysts forecast that Paycom Software, Inc. will post 7.15 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 10th will be issued a dividend of $0.375 per share. The ex-dividend date is Monday, March 10th. This represents a $1.50 annualized dividend and a dividend yield of 0.68%. Paycom Software’s dividend payout ratio is presently 16.85%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PAYC. JPMorgan Chase & Co. boosted their target price on shares of Paycom Software from $185.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Piper Sandler boosted their price objective on Paycom Software from $191.00 to $224.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. Jefferies Financial Group upped their price objective on Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. TD Cowen lifted their target price on Paycom Software from $193.00 to $248.00 and gave the stock a “hold” rating in a report on Monday, December 9th. Finally, StockNews.com upgraded Paycom Software from a “hold” rating to a “buy” rating in a report on Friday, January 31st. Eleven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $209.22.

Paycom Software Company 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.