Parkside Financial Bank & Trust Increases Stock Position in Paycom Software, Inc. (NYSE:PAYC)

Parkside Financial Bank & Trust boosted its stake in Paycom Software, Inc. (NYSE:PAYC) by 17.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,009 shares of the software maker’s stock after purchasing an additional 149 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Paycom Software were worth $209,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of PAYC. Marks Group Wealth Management Inc raised its position in shares of Paycom Software by 19.0% during the 4th quarter. Marks Group Wealth Management Inc now owns 10,297 shares of the software maker’s stock valued at $2,129,000 after buying an additional 1,644 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its position in shares of Paycom Software by 6.0% during the 4th quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 905,783 shares of the software maker’s stock valued at $172,316,000 after buying an additional 50,879 shares in the last quarter. North Star Asset Management Inc. raised its position in shares of Paycom Software by 1.7% during the 4th quarter. North Star Asset Management Inc. now owns 18,796 shares of the software maker’s stock valued at $3,886,000 after buying an additional 318 shares in the last quarter. Capital Investment Advisory Services LLC raised its position in Paycom Software by 9.5% in the 4th quarter. Capital Investment Advisory Services LLC now owns 1,498 shares of the software maker’s stock worth $310,000 after purchasing an additional 130 shares during the period. Finally, OLD National Bancorp IN raised its position in Paycom Software by 46.8% in the 4th quarter. OLD National Bancorp IN now owns 1,626 shares of the software maker’s stock worth $336,000 after purchasing an additional 518 shares during the period. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Paycom Software Trading Down 2.1 %

Shares of NYSE PAYC traded down $3.86 during midday trading on Wednesday, reaching $184.23. The company had a trading volume of 232,741 shares, compared to its average volume of 837,779. The business’s 50-day simple moving average is $190.04 and its 200 day simple moving average is $198.36. Paycom Software, Inc. has a 1 year low of $146.15 and a 1 year high of $374.04. The stock has a market cap of $10.60 billion, a P/E ratio of 31.88, a P/E/G ratio of 3.18 and a beta of 1.17.

Paycom Software (NYSE:PAYC) last issued its quarterly earnings data on Wednesday, February 7th. The software maker reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.15. Paycom Software had a net margin of 20.12% and a return on equity of 24.60%. The business had revenue of $434.60 million during the quarter, compared to the consensus estimate of $422.50 million. During the same quarter in the prior year, the firm posted $1.38 earnings per share. The company’s revenue was up 17.3% compared to the same quarter last year. Analysts predict that Paycom Software, Inc. will post 5.73 earnings per share for the current year.

Paycom Software Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 18th. Shareholders of record on Monday, March 4th were issued a $0.375 dividend. The ex-dividend date was Friday, March 1st. This represents a $1.50 annualized dividend and a yield of 0.81%. Paycom Software’s payout ratio is 25.42%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PAYC. BTIG Research began coverage on shares of Paycom Software in a research report on Tuesday, February 6th. They issued a “neutral” rating on the stock. Piper Sandler increased their price objective on shares of Paycom Software from $185.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, February 8th. UBS Group upped their target price on shares of Paycom Software from $235.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, January 10th. JPMorgan Chase & Co. upped their target price on shares of Paycom Software from $140.00 to $165.00 and gave the stock a “neutral” rating in a research note on Thursday, February 8th. Finally, Jefferies Financial Group restated a “hold” rating and issued a $195.00 target price on shares of Paycom Software in a research note on Friday, January 5th. Seventeen equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Paycom Software currently has an average rating of “Hold” and a consensus target price of $257.18.

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.