New World Advisors LLC Acquires Shares of 1,085 Paycom Software, Inc. (NYSE:PAYC)

New World Advisors LLC acquired a new stake in Paycom Software, Inc. (NYSE:PAYC) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,085 shares of the software maker’s stock, valued at approximately $222,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PAYC. Creative Planning grew its holdings in Paycom Software by 27.5% in the 3rd quarter. Creative Planning now owns 7,586 shares of the software maker’s stock valued at $1,264,000 after buying an additional 1,635 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Paycom Software by 277.1% during the 3rd quarter. Blue Trust Inc. now owns 264 shares of the software maker’s stock worth $44,000 after purchasing an additional 194 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Paycom Software by 9.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 33,944 shares of the software maker’s stock worth $5,654,000 after purchasing an additional 2,937 shares in the last quarter. Private Advisor Group LLC grew its holdings in shares of Paycom Software by 14.3% during the 3rd quarter. Private Advisor Group LLC now owns 2,398 shares of the software maker’s stock worth $400,000 after purchasing an additional 300 shares in the last quarter. Finally, International Assets Investment Management LLC grew its holdings in shares of Paycom Software by 9,997.5% during the 3rd quarter. International Assets Investment Management LLC now owns 281,315 shares of the software maker’s stock worth $46,859,000 after purchasing an additional 278,529 shares in the last quarter. 87.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Piper Sandler increased their target price on Paycom Software from $191.00 to $224.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Mizuho raised their price objective on Paycom Software from $190.00 to $210.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. StockNews.com raised Paycom Software from a “hold” rating to a “buy” rating in a research note on Friday, January 31st. Barclays reduced their price objective on Paycom Software from $229.00 to $221.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. Finally, Stifel Nicolaus reduced their price objective 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. Eleven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $209.22.

Paycom Software Price Performance

Shares of PAYC opened at $213.18 on Monday. Paycom Software, Inc. has a 1 year low of $139.50 and a 1 year high of $242.74. The company has a market capitalization of $12.21 billion, a price-to-earnings ratio of 23.95, a price-to-earnings-growth ratio of 2.40 and a beta of 1.15. The business has a 50-day moving average of $207.92 and a 200-day moving average of $194.07.

Paycom Software (NYSE:PAYC) last issued its quarterly earnings data on Wednesday, February 12th. The software maker reported $2.02 earnings per share (EPS) for the quarter, topping 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%. As a group, sell-side analysts anticipate that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Monday, March 10th will be issued 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 0.70%. Paycom Software’s 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.