Avory & Company LLC Takes Position in Paycom Software, Inc. (NYSE:PAYC)

Avory & Company LLC purchased a new stake in shares of Paycom Software, Inc. (NYSE:PAYC) during the 4th quarter, HoldingsChannel.com reports. The firm purchased 2,554 shares of the software maker’s stock, valued at approximately $528,000. Paycom Software makes up 0.4% of Avory & Company LLC’s portfolio, making the stock its 16th largest holding.

Several other hedge funds and other institutional investors have also recently modified their holdings of PAYC. Oak Family Advisors LLC purchased a new stake in Paycom Software in the fourth quarter worth approximately $2,994,000. Nordea Investment Management AB boosted its stake in Paycom Software by 8.8% in the third quarter. Nordea Investment Management AB now owns 261,428 shares of the software maker’s stock worth $68,912,000 after buying an additional 21,095 shares in the last quarter. Kornitzer Capital Management Inc. KS purchased a new stake in shares of Paycom Software during the fourth quarter valued at approximately $6,615,000. US Bancorp DE boosted its stake in shares of Paycom Software by 25.8% during the third quarter. US Bancorp DE now owns 91,950 shares of the software maker’s stock valued at $23,840,000 after purchasing an additional 18,857 shares during the period. Finally, Lecap Asset Management Ltd. purchased a new stake in shares of Paycom Software during the fourth quarter valued at approximately $2,028,000. 87.77% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PAYC has been the subject of a number of analyst reports. Jefferies Financial Group reissued a “hold” rating and set a $195.00 price objective on shares of Paycom Software in a research note on Friday, January 5th. BTIG Research began coverage on Paycom Software in a report on Tuesday, February 6th. They set a “neutral” rating for the company. JPMorgan Chase & Co. upped their target price on Paycom Software from $140.00 to $165.00 and gave the company a “neutral” rating in a report on Thursday, February 8th. Piper Sandler upped their target price on Paycom Software from $185.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, February 8th. Finally, Citigroup decreased their target price on Paycom Software from $205.00 to $198.00 and set a “neutral” rating for the company in a report on Wednesday, January 31st. Seventeen research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Paycom Software has an average rating of “Hold” and an average price target of $257.18.

Paycom Software Price Performance

NYSE PAYC traded down $2.26 during trading hours on Tuesday, hitting $190.93. The company’s stock had a trading volume of 423,326 shares, compared to its average volume of 833,318. Paycom Software, Inc. has a 12 month low of $146.15 and a 12 month high of $374.04. The company’s 50 day simple moving average is $189.87 and its two-hundred day simple moving average is $195.96. The company has a market cap of $10.99 billion, a P/E ratio of 32.74, a price-to-earnings-growth ratio of 3.22 and a beta of 1.17.

Paycom Software (NYSE:PAYC) last released its quarterly earnings data on Wednesday, February 7th. The software maker reported $1.93 EPS for the quarter, topping the consensus estimate of $1.78 by $0.15. Paycom Software had a return on equity of 24.60% and a net margin of 20.12%. The company had revenue of $434.60 million during the quarter, compared to the consensus estimate of $422.50 million. During the same period last year, the company earned $1.38 EPS. Paycom Software’s revenue for the quarter was up 17.3% on a year-over-year basis. As a group, research analysts predict that Paycom Software, Inc. will post 5.73 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Tuesday, May 28th will be paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.79%. Paycom Software’s dividend payout ratio is currently 25.42%.

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.