Paycom Software, Inc. $PAYC Holdings Increased by Zurcher Kantonalbank Zurich Cantonalbank

Key Points

• Zurcher Kantonalbank increased its stake in Paycom by 157.3% in Q4 to 102,553 shares (about $16.34M), and several other institutions also added positions, leaving roughly 87.77% of the stock held by institutional investors.
• Analyst sentiment is mixed with a consensus rating of Hold and a consensus target price of $168.79 (five Buys, eleven Holds, one Sell), following several recent target cuts and a few upgrades.
• Paycom slightly beat quarterly estimates (EPS $2.45 vs. $2.44; revenue $544.3M, +10.2% YoY), the stock trades near $130 with a P/E of 16.12 and $6.21B market cap, and pays a quarterly dividend of $0.375 (annualized yield ~1.2%).

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) by 157.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 102,553 shares of the software maker's stock after buying an additional 62,688 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.18% of Paycom Software worth $16,343,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PAYC. Allianz Asset Management GmbH raised its position in shares of Paycom Software by 10,106.6% during the 3rd quarter. Allianz Asset Management GmbH now owns 486,957 shares of the software maker's stock worth $101,355,000 after buying an additional 482,186 shares in the last quarter. Two Sigma Investments LP raised its holdings in shares of Paycom Software by 228.7% in the 3rd quarter. Two Sigma Investments LP now owns 532,124 shares of the software maker's stock worth $110,756,000 after purchasing an additional 370,219 shares in the last quarter. Woodline Partners LP bought a new stake in shares of Paycom Software in the 3rd quarter worth approximately $58,452,000. Robeco Institutional Asset Management B.V. raised its holdings in shares of Paycom Software by 230.9% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 341,286 shares of the software maker's stock worth $54,387,000 after purchasing an additional 238,155 shares in the last quarter. Finally, Freestone Grove Partners LP bought a new stake in shares of Paycom Software in the 3rd quarter worth approximately $42,414,000. 87.77% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PAYC. Barclays boosted their target price on shares of Paycom Software from $140.00 to $150.00 and gave the stock an "equal weight" rating in a report on Friday, March 6th. Jefferies Financial Group dropped their target price on shares of Paycom Software from $190.00 to $130.00 and set a "hold" rating on the stock in a report on Thursday, February 12th. Cantor Fitzgerald boosted their target price on shares of Paycom Software from $115.00 to $135.00 and gave the stock a "neutral" rating in a report on Friday, March 6th. Citigroup dropped their target price on shares of Paycom Software from $185.00 to $128.00 and set a "neutral" rating on the stock in a report on Friday, February 13th. Finally, UBS Group dropped their target price on shares of Paycom Software from $210.00 to $183.00 and set a "buy" rating on the stock in a report on Tuesday. Five investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $168.79.

Paycom Software Price Performance

Paycom Software stock opened at $130.37 on Thursday. The firm's 50 day simple moving average is $124.59 and its 200-day simple moving average is $151.22. The company has a market cap of $6.21 billion, a P/E ratio of 16.12, a price-to-earnings-growth ratio of 1.37 and a beta of 0.79. Paycom Software, Inc. has a fifty-two week low of $104.90 and a fifty-two week high of $267.76.

Paycom Software (NYSE:PAYC - Get Free Report) last released its earnings results on Wednesday, February 11th. The software maker reported $2.45 earnings per share for the quarter, topping the consensus estimate of $2.44 by $0.01. The business had revenue of $544.30 million for the quarter, compared to the consensus estimate of $542.79 million. Paycom Software had a net margin of 22.10% and a return on equity of 24.25%. The firm's quarterly revenue was up 10.2% compared to the same quarter last year. During the same period last year, the firm posted $2.32 earnings per share. On average, analysts expect that Paycom Software, Inc. will post 8.59 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 23rd. Stockholders of record on Monday, March 9th were given a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Monday, March 9th. Paycom Software's dividend payout ratio (DPR) is 18.54%.

Paycom Software Company Profile

Paycom Software, Inc NYSE: PAYC is a cloud-based human capital management (HCM) software provider that delivers an end-to-end solution for human resources, payroll, talent acquisition, time and labor management, and talent management. Its single-database platform enables organizations to process payroll, track time, administer benefits, and manage recruiting and employee development through a unified system. Paycom's software is designed to streamline administrative tasks, improve data accuracy, and provide real-time reporting and analytics to support strategic HR decisions.

The company's core offerings include payroll processing with built-in tax compliance, employee self-service functionality, automated time tracking, and customizable talent acquisition tools that allow employers to create and post job requisitions, screen candidates, and conduct onboarding electronically.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.