Stanley Laman Group Ltd. Invests $7.51 Million in Paycom Software, Inc. (NYSE:PAYC)

Stanley Laman Group Ltd. bought a new position in Paycom Software, Inc. (NYSE:PAYC - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 36,330 shares of the software maker's stock, valued at approximately $7,510,000. Paycom Software makes up about 1.1% of Stanley Laman Group Ltd.'s holdings, making the stock its 22nd largest position. Stanley Laman Group Ltd. owned about 0.06% of Paycom Software as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PAYC. CWM LLC lifted its stake in shares of Paycom Software by 34.5% in the third quarter. CWM LLC now owns 1,048 shares of the software maker's stock worth $272,000 after buying an additional 269 shares in the last quarter. AE Wealth Management LLC raised its holdings in shares of Paycom Software by 12.7% during the third quarter. AE Wealth Management LLC now owns 1,704 shares of the software maker's stock valued at $442,000 after purchasing an additional 192 shares during the last quarter. Flagship Harbor Advisors LLC raised its holdings in shares of Paycom Software by 40.3% during the third quarter. Flagship Harbor Advisors LLC now owns 1,330 shares of the software maker's stock valued at $345,000 after purchasing an additional 382 shares during the last quarter. Oak Thistle LLC purchased a new position in shares of Paycom Software during the third quarter valued at approximately $1,502,000. Finally, Czech National Bank raised its holdings in shares of Paycom Software by 49.6% during the third quarter. Czech National Bank now owns 8,609 shares of the software maker's stock valued at $2,232,000 after purchasing an additional 2,855 shares during the last quarter. Institutional investors own 87.77% of the company's stock.

Paycom Software Stock Performance

Shares of NYSE PAYC traded down $1.33 during midday trading on Thursday, reaching $186.58. The stock had a trading volume of 843,256 shares, compared to its average volume of 842,079. The stock has a 50-day moving average of $189.86 and a 200-day moving average of $198.20. The company has a market capitalization of $10.74 billion, a price-to-earnings ratio of 31.62, a price-to-earnings-growth ratio of 3.21 and a beta of 1.17. Paycom Software, Inc. has a 12-month low of $146.15 and a 12-month high of $374.04.

Paycom Software (NYSE:PAYC - Get Free Report) last announced its quarterly earnings data on Wednesday, February 7th. The software maker reported $1.93 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.78 by $0.15. The firm had revenue of $434.60 million during the quarter, compared to analysts' expectations of $422.50 million. Paycom Software had a net margin of 20.12% and a return on equity of 24.60%. The company's revenue for the quarter was up 17.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.38 earnings per share. As a group, analysts forecast that Paycom Software, Inc. will post 5.73 EPS for the current fiscal year.

Paycom Software Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 18th. Investors of record on Monday, March 4th were given a dividend of $0.375 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.80%. Paycom Software's dividend payout ratio is 25.42%.

Analysts Set New Price Targets

Several research firms have recently weighed in on PAYC. JPMorgan Chase & Co. boosted their price objective on shares of Paycom Software from $140.00 to $165.00 and gave the company a "neutral" rating in a report on Thursday, February 8th. Jefferies Financial Group reissued a "hold" rating and set a $195.00 price objective on shares of Paycom Software in a report on Friday, January 5th. Piper Sandler upped their target price on shares of Paycom Software from $185.00 to $190.00 and gave the company a "neutral" rating in a report on Thursday, February 8th. BTIG Research initiated coverage on shares of Paycom Software in a report on Tuesday, February 6th. They set a "neutral" rating for the company. Finally, UBS Group upped their target price on shares of Paycom Software from $235.00 to $250.00 and gave the company a "buy" rating in a report on Wednesday, January 10th. Seventeen investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.