Kornitzer Capital Management Inc. KS bought a new stake in shares of Paycom Software, Inc. (NYSE:PAYC - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The fund bought 32,000 shares of the software maker's stock, valued at approximately $6,615,000. Kornitzer Capital Management Inc. KS owned approximately 0.05% of Paycom Software as of its most recent filing with the SEC.
Several other institutional investors have also made changes to their positions in PAYC. Fairfield Bush & CO. acquired a new stake in shares of Paycom Software during the 2nd quarter worth about $27,000. KB Financial Partners LLC acquired a new stake in shares of Paycom Software during the 1st quarter worth about $28,000. Clear Street Markets LLC grew its position in Paycom Software by 98.0% during the 1st quarter. Clear Street Markets LLC now owns 97 shares of the software maker's stock worth $29,000 after acquiring an additional 48 shares during the last quarter. Sunbelt Securities Inc. bought a new stake in Paycom Software during the 1st quarter worth approximately $33,000. Finally, Cary Street Partners Investment Advisory LLC grew its position in Paycom Software by 83.5% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 156 shares of the software maker's stock worth $40,000 after acquiring an additional 71 shares during the last quarter. 87.77% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
PAYC has been the topic of a number of research analyst reports. JPMorgan Chase & Co. increased their price target on Paycom Software from $140.00 to $165.00 and gave the stock a "neutral" rating in a research report on Thursday, February 8th. Piper Sandler upped their price target 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. Jefferies Financial Group restated a "hold" rating and issued a $195.00 price objective on shares of Paycom Software in a research report on Friday, January 5th. BTIG Research started coverage on shares of Paycom Software in a research report on Tuesday, February 6th. They issued a "neutral" rating for the company. Finally, Citigroup dropped their price objective on shares of Paycom Software from $205.00 to $198.00 and set a "neutral" rating for the company in a research report on Wednesday, January 31st. Seventeen analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Paycom Software has an average rating of "Hold" and an average price target of $257.18.
View Our Latest Analysis on Paycom Software
Paycom Software Stock Performance
NYSE:PAYC traded down $1.62 during trading hours on Friday, hitting $183.25. The stock had a trading volume of 572,598 shares, compared to its average volume of 719,346. Paycom Software, Inc. has a one year low of $146.15 and a one year high of $374.04. The company has a market cap of $10.55 billion, a price-to-earnings ratio of 31.06, a P/E/G ratio of 3.13 and a beta of 1.17. The business's 50 day moving average is $190.12 and its 200-day moving average is $199.47.
Paycom Software (NYSE:PAYC - Get Free Report) last posted its earnings results on Wednesday, February 7th. The software maker reported $1.93 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.78 by $0.15. Paycom Software had a return on equity of 24.60% and a net margin of 20.12%. The firm had revenue of $434.60 million during the quarter, compared to analysts' expectations of $422.50 million. During the same period in the previous year, the firm earned $1.38 earnings per share. The company's revenue was up 17.3% on a year-over-year basis. On average, sell-side analysts anticipate that Paycom Software, Inc. will post 5.73 EPS for the current fiscal year.
Paycom Software Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, March 18th. Shareholders of record on Monday, March 4th were paid a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 0.82%. The ex-dividend date of this dividend was Friday, March 1st. Paycom Software's payout ratio is 25.42%.
About Paycom Software
(
Free Report)
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.
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