Janney Montgomery Scott LLC Buys 10,555 Shares of Paycom Software, Inc. (NYSE:PAYC)

Janney Montgomery Scott LLC grew its stake in Paycom Software, Inc. (NYSE:PAYCFree Report) by 26.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 50,315 shares of the software maker’s stock after acquiring an additional 10,555 shares during the quarter. Janney Montgomery Scott LLC owned 0.08% of Paycom Software worth $10,401,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of PAYC. Raymond James & Associates grew its holdings in Paycom Software by 18.4% during the third quarter. Raymond James & Associates now owns 12,450 shares of the software maker’s stock valued at $3,228,000 after purchasing an additional 1,935 shares during the period. Panagora Asset Management Inc. boosted its position in shares of Paycom Software by 4.1% during the third quarter. Panagora Asset Management Inc. now owns 2,356 shares of the software maker’s stock worth $611,000 after purchasing an additional 93 shares in the last quarter. New Mexico Educational Retirement Board boosted its position in shares of Paycom Software by 8.5% during the third quarter. New Mexico Educational Retirement Board now owns 2,550 shares of the software maker’s stock worth $661,000 after purchasing an additional 200 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of Paycom Software by 1.8% in the 3rd quarter. Daiwa Securities Group Inc. now owns 5,282 shares of the software maker’s stock valued at $1,369,000 after buying an additional 91 shares during the period. Finally, Banque Pictet & Cie SA increased its position in shares of Paycom Software by 33.8% in the 3rd quarter. Banque Pictet & Cie SA now owns 4,316 shares of the software maker’s stock valued at $1,119,000 after buying an additional 1,090 shares in the last quarter. 87.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on PAYC shares. Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a report on Thursday, May 2nd. JPMorgan Chase & Co. lifted their price objective on Paycom Software from $165.00 to $175.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. Barclays lowered their target price on Paycom Software from $193.00 to $184.00 and set an “equal weight” rating for the company in a research note on Thursday, May 2nd. Piper Sandler lifted their price target on shares of Paycom Software from $185.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, February 8th. Finally, BTIG Research initiated coverage on shares of Paycom Software in a research report on Tuesday, February 6th. They set a “neutral” rating for the company. Seventeen equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $246.31.

Get Our Latest Analysis on Paycom Software

Paycom Software Stock Performance

Shares of NYSE PAYC opened at $182.28 on Friday. The stock has a 50 day moving average price of $188.44 and a 200 day moving average price of $188.91. The stock has a market capitalization of $10.59 billion, a PE ratio of 22.20, a price-to-earnings-growth ratio of 2.86 and a beta of 1.17. Paycom Software, Inc. has a 52 week low of $146.15 and a 52 week high of $374.04.

Paycom Software Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Tuesday, May 28th will be issued a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 0.82%. The ex-dividend date is Friday, May 24th. Paycom Software’s payout ratio is presently 18.27%.

Paycom Software Company Profile

(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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Institutional Ownership by Quarter for Paycom Software (NYSE:PAYC)

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