CIBC Asset Management Inc Grows Position in Paycom Software, Inc. $PAYC

CIBC Asset Management Inc grew its holdings in Paycom Software, Inc. (NYSE:PAYC) by 70.8% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 11,775 shares of the software maker’s stock after buying an additional 4,879 shares during the quarter. CIBC Asset Management Inc’s holdings in Paycom Software were worth $1,876,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of PAYC. Brighton Jones LLC purchased a new stake in Paycom Software during the 4th quarter valued at about $638,000. AQR Capital Management LLC raised its holdings in Paycom Software by 23.7% in the 1st quarter. AQR Capital Management LLC now owns 19,155 shares of the software maker’s stock valued at $4,136,000 after acquiring an additional 3,674 shares during the last quarter. United Services Automobile Association purchased a new position in Paycom Software in the 1st quarter worth approximately $215,000. Empowered Funds LLC lifted its stake in Paycom Software by 22.8% in the 1st quarter. Empowered Funds LLC now owns 7,958 shares of the software maker’s stock worth $1,739,000 after purchasing an additional 1,480 shares in the last quarter. Finally, Focus Partners Wealth boosted its holdings in shares of Paycom Software by 220.8% during the 1st quarter. Focus Partners Wealth now owns 3,940 shares of the software maker’s stock worth $861,000 after purchasing an additional 2,712 shares during the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on PAYC shares. Zacks Research upgraded Paycom Software from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 18th. UBS Group reduced their price objective on Paycom Software from $210.00 to $183.00 and set a “buy” rating on the stock in a research report on Tuesday, April 21st. Mizuho boosted their price objective on Paycom Software from $120.00 to $130.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Jefferies Financial Group dropped their target price on Paycom Software from $190.00 to $130.00 and set a “hold” rating for the company in a report on Thursday, February 12th. Finally, KeyCorp cut their target price on Paycom Software from $250.00 to $195.00 and set an “overweight” rating for the company in a research note on Thursday, February 12th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $159.67.

Paycom Software Stock Performance

Paycom Software stock opened at $135.97 on Tuesday. The firm has a 50 day simple moving average of $130.14 and a 200-day simple moving average of $139.30. The stock has a market cap of $6.48 billion, a price-to-earnings ratio of 15.72, a price-to-earnings-growth ratio of 1.19 and a beta of 0.79. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.08 and a quick ratio of 1.08. Paycom Software, Inc. has a 1-year low of $104.90 and a 1-year high of $265.91.

Paycom Software (NYSE:PAYC) last released its quarterly earnings results on Wednesday, May 6th. The software maker reported $3.15 EPS for the quarter, beating the consensus estimate of $2.99 by $0.16. Paycom Software had a net margin of 22.44% and a return on equity of 28.34%. The firm had revenue of $571.80 million for the quarter, compared to analyst estimates of $564.37 million. During the same quarter in the previous year, the company earned $2.80 EPS. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. On average, analysts expect that Paycom Software, Inc. will post 9.16 EPS for the current year.

Paycom Software Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 8th. Shareholders of record on Tuesday, May 26th were given a $0.375 dividend. The ex-dividend date was Tuesday, May 26th. This represents a $1.50 dividend on an annualized basis and a yield of 1.1%. Paycom Software’s payout ratio is currently 17.34%.

About Paycom Software

Paycom Software, Inc (NYSE: PAYC) is a cloud-based human capital management (HCM) software provider that delivers an end-to-end solution for human resources, payroll, talent acquisition, time and labor management, and talent management. Its single-database platform enables organizations to process payroll, track time, administer benefits, and manage recruiting and employee development through a unified system. Paycom’s software is designed to streamline administrative tasks, improve data accuracy, and provide real-time reporting and analytics to support strategic HR decisions.

The company’s core offerings include payroll processing with built-in tax compliance, employee self-service functionality, automated time tracking, and customizable talent acquisition tools that allow employers to create and post job requisitions, screen candidates, and conduct onboarding electronically.