Boyd Watterson Asset Management LLC OH Grows Position in Paycom Software, Inc. (NYSE:PAYC)

Boyd Watterson Asset Management LLC OH increased its position in Paycom Software, Inc. (NYSE:PAYC) by 70.1% in the fourth quarter, HoldingsChannel reports. The firm owned 1,284 shares of the software maker’s stock after purchasing an additional 529 shares during the quarter. Boyd Watterson Asset Management LLC OH’s holdings in Paycom Software were worth $265,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Cary Street Partners Investment Advisory LLC lifted its stake 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 during the period. GAMMA Investing LLC purchased a new stake in Paycom Software during the fourth quarter valued at $49,000. Headlands Technologies LLC purchased a new stake in Paycom Software during the third quarter valued at $52,000. Operose Advisors LLC purchased a new stake in Paycom Software in the third quarter worth about $55,000. Finally, Rakuten Securities Inc. purchased a new stake in Paycom Software in the fourth quarter worth about $62,000. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Wall Street Analyst Weigh In

PAYC has been the subject of a number of recent analyst reports. Piper Sandler upped their price objective on Paycom Software from $185.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday, February 8th. UBS Group upped their price objective on Paycom Software from $235.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, January 10th. BTIG Research initiated coverage on Paycom Software in a research note on Tuesday, February 6th. They issued a “neutral” rating for the company. JPMorgan Chase & Co. upped their price objective on Paycom Software from $140.00 to $165.00 and gave the stock a “neutral” rating in a research note on Thursday, February 8th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $195.00 price objective on shares of Paycom Software in a research note on Friday, January 5th. Seventeen research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $257.18.

Paycom Software Stock Performance

PAYC stock traded up $2.31 during midday trading on Friday, reaching $188.89. 674,972 shares of the company traded hands, compared to its average volume of 700,485. Paycom Software, Inc. has a 52-week low of $146.15 and a 52-week high of $374.04. The business has a 50 day moving average of $189.82 and a 200-day moving average of $197.60. The firm has a market capitalization of $10.87 billion, a price-to-earnings ratio of 32.02, a P/E/G ratio of 3.18 and a beta of 1.17.

Paycom Software (NYSE:PAYC) last issued its quarterly earnings results on Wednesday, February 7th. The software maker reported $1.93 earnings per share for the quarter, topping the consensus estimate 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 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. The company’s revenue for the quarter was up 17.3% on a year-over-year basis. Research analysts anticipate that Paycom Software, Inc. will post 5.73 earnings per share for the current year.

Paycom Software Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 18th. Stockholders of record on Monday, March 4th were issued a $0.375 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $1.50 annualized dividend and a dividend yield of 0.79%. Paycom Software’s payout ratio is 25.42%.

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.