Paycom Software, Inc. (NYSE:PAYC) Shares Purchased by OLD National Bancorp IN

OLD National Bancorp IN lifted its position in Paycom Software, Inc. (NYSE:PAYC) by 46.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,626 shares of the software maker’s stock after acquiring an additional 518 shares during the quarter. OLD National Bancorp IN’s holdings in Paycom Software were worth $336,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Cary Street Partners Investment Advisory LLC raised its position in shares of 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 purchasing an additional 71 shares during the period. Headlands Technologies LLC acquired a new position in Paycom Software during the 3rd quarter valued at about $52,000. Operose Advisors LLC bought a new stake in shares of Paycom Software during the 3rd quarter worth about $55,000. Rakuten Securities Inc. bought a new position in shares of Paycom Software in the fourth quarter valued at approximately $62,000. Finally, Clearstead Advisors LLC increased its stake in shares of Paycom Software by 2,536.8% during the third quarter. Clearstead Advisors LLC now owns 501 shares of the software maker’s stock valued at $130,000 after acquiring an additional 482 shares during the period. 87.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on PAYC shares. Jefferies Financial Group restated a “hold” rating and issued a $195.00 target price on shares of Paycom Software in a research report on Friday, January 5th. Citigroup cut their target price on Paycom Software from $205.00 to $198.00 and set a “neutral” rating for the company in a research report on Wednesday, January 31st. JPMorgan Chase & Co. upped their target price 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 target price on Paycom Software from $185.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, February 8th. Finally, BTIG Research started coverage on Paycom Software in a research report on Tuesday, February 6th. They issued a “neutral” rating for the company. Seventeen investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $257.18.

Paycom Software Trading Down 0.7 %

NYSE PAYC opened at $186.58 on Friday. Paycom Software, Inc. has a 1-year low of $146.15 and a 1-year high of $374.04. The company has a market capitalization of $10.74 billion, a PE ratio of 31.62, a price-to-earnings-growth ratio of 3.20 and a beta of 1.17. The firm’s fifty day simple moving average is $189.86 and its 200-day simple moving average is $198.20.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $422.50 million. During the same period in the prior year, the business posted $1.38 earnings per share. Paycom Software’s revenue for the quarter was up 17.3% compared to the same quarter last year. As a group, analysts predict that Paycom Software, Inc. will post 5.73 EPS for the current year.

Paycom Software Announces Dividend

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

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.