CIBC Asset Management Inc Raises Position in Paycom Software, Inc. (NYSE:PAYC)

CIBC Asset Management Inc lifted its stake in Paycom Software, Inc. (NYSE:PAYC) by 4.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,726 shares of the software maker’s stock after purchasing an additional 348 shares during the quarter. CIBC Asset Management Inc’s holdings in Paycom Software were worth $1,584,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the stock. Brooklyn Investment Group purchased a new position in Paycom Software during the third quarter worth $28,000. Pin Oak Investment Advisors Inc. lifted its holdings in shares of Paycom Software by 73.3% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 182 shares of the software maker’s stock worth $30,000 after acquiring an additional 77 shares during the last quarter. First Horizon Advisors Inc. boosted its stake in shares of Paycom Software by 821.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 212 shares of the software maker’s stock worth $35,000 after purchasing an additional 189 shares during the period. Blue Trust Inc. grew its holdings in Paycom Software by 277.1% during the 3rd quarter. Blue Trust Inc. now owns 264 shares of the software maker’s stock valued at $44,000 after purchasing an additional 194 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Paycom Software in the 3rd quarter worth about $79,000. Institutional investors own 87.77% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Stifel Nicolaus cut their target price on Paycom Software from $215.00 to $187.00 and set a “hold” rating on the stock in a research note on Thursday, February 13th. Mizuho increased their target price on Paycom Software from $190.00 to $210.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. Barclays lowered their target price on shares of Paycom Software from $229.00 to $221.00 and set an “equal weight” rating for the company in a research note on Thursday, January 23rd. Jefferies Financial Group raised their price target on shares of Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. Finally, StockNews.com raised shares of Paycom Software from a “hold” rating to a “buy” rating in a research report on Friday, January 31st. Eleven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Paycom Software presently has a consensus rating of “Hold” and an average price target of $209.22.

Paycom Software Stock Performance

NYSE PAYC opened at $213.18 on Friday. The company’s 50-day simple moving average is $208.35 and its two-hundred day simple moving average is $193.15. Paycom Software, Inc. has a one year low of $139.50 and a one year high of $242.74. The company has a market capitalization of $12.29 billion, a price-to-earnings ratio of 23.95, a price-to-earnings-growth ratio of 2.42 and a beta of 1.15.

Paycom Software (NYSE:PAYC) last issued its quarterly earnings data on Wednesday, February 12th. The software maker reported $2.02 EPS for the quarter, topping analysts’ consensus estimates of $1.99 by $0.03. Paycom Software had a net margin of 26.66% and a return on equity of 33.53%. Equities analysts expect that Paycom Software, Inc. will post 7.15 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 10th will be paid a $0.375 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.50 annualized dividend and a yield of 0.70%. Paycom Software’s dividend payout ratio (DPR) is presently 16.85%.

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.