Ieq Capital LLC Boosts Holdings in Paycom Software, Inc. (NYSE:PAYC)

Ieq Capital LLC lifted its holdings in Paycom Software, Inc. (NYSE:PAYC) by 63.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,685 shares of the software maker’s stock after buying an additional 1,434 shares during the period. Ieq Capital LLC’s holdings in Paycom Software were worth $755,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Mizuho boosted their price objective on shares of Paycom Software from $190.00 to $210.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. Piper Sandler lifted their target price on shares of Paycom Software from $191.00 to $224.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a report on Thursday, February 13th. JPMorgan Chase & Co. lifted their target price on shares of Paycom Software from $185.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Finally, Jefferies Financial Group lifted their target price on shares of Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a report on Thursday, October 31st. Eleven analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $209.22.

Insider Buying and Selling

In related news, COO Randall Peck sold 3,600 shares of Paycom Software stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $212.19, for a total value of $763,884.00. Following the transaction, the chief operating officer now owns 50,665 shares of the company’s stock, valued at approximately $10,750,606.35. This trade represents a 6.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 14.50% of the stock is currently owned by company insiders.

Paycom Software Stock Performance

Shares of PAYC opened at $218.96 on Wednesday. The firm has a market capitalization of $12.54 billion, a price-to-earnings ratio of 24.60, a price-to-earnings-growth ratio of 2.40 and a beta of 1.15. Paycom Software, Inc. has a one year low of $139.50 and a one year high of $242.74. The stock’s fifty day moving average is $207.67 and its 200-day moving average is $194.49.

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

Paycom Software Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Investors 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 dividend on an annualized basis and a yield of 0.69%. Paycom Software’s dividend payout ratio is currently 16.85%.

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.