First Citizens Bank & Trust Co. Takes Position in Paycom Software, Inc. (NYSE:PAYC)

First Citizens Bank & Trust Co. bought a new stake in shares of Paycom Software, Inc. (NYSE:PAYC) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 11,637 shares of the software maker’s stock, valued at approximately $2,406,000.

A number of other hedge funds have also recently modified their holdings of the business. Fairfield Bush & CO. purchased a new stake in shares of Paycom Software in the 2nd quarter worth $27,000. KB Financial Partners LLC purchased a new stake in Paycom Software in the first quarter worth about $28,000. Clear Street Markets LLC grew its holdings 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 in the last quarter. Sunbelt Securities Inc. purchased a new position in Paycom Software during the 1st quarter valued at about $33,000. Finally, Cary Street Partners Investment Advisory LLC raised its holdings in shares of Paycom Software by 83.5% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 156 shares of the software maker’s stock valued at $40,000 after purchasing an additional 71 shares in the last quarter. Institutional investors own 87.77% of the company’s stock.

Paycom Software Stock Performance

Shares of NYSE:PAYC traded down $1.35 during midday trading on Tuesday, hitting $196.93. The company’s stock had a trading volume of 640,767 shares, compared to its average volume of 869,252. The company has a market cap of $11.33 billion, a P/E ratio of 33.27, a price-to-earnings-growth ratio of 3.39 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. The business’s 50 day simple moving average is $189.67 and its 200 day simple moving average is $206.10.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings data on Wednesday, February 7th. The software maker reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.15. The firm had revenue of $434.60 million for the quarter, compared to the consensus estimate of $422.50 million. Paycom Software had a return on equity of 24.60% and a net margin of 20.12%. The firm’s revenue was up 17.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.38 earnings per share. On average, sell-side analysts predict that Paycom Software, Inc. will post 5.73 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

The company also recently disclosed 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. This represents a $1.50 annualized dividend and a yield of 0.76%. The ex-dividend date was Friday, March 1st. Paycom Software’s payout ratio is currently 25.42%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on PAYC shares. Jefferies Financial Group reissued a “hold” rating and issued a $195.00 price objective on shares of Paycom Software in a research note on Friday, January 5th. Citigroup decreased their price objective on Paycom Software from $205.00 to $198.00 and set a “neutral” rating for the company in a research note on Wednesday, January 31st. BTIG Research initiated coverage on Paycom Software in a research note on Tuesday, February 6th. They issued a “neutral” rating on the stock. JPMorgan Chase & Co. raised their price target 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. Finally, Piper Sandler raised their target price 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. Seventeen investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $257.18.

About Paycom Software

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.