Howard Wealth Management LLC Takes Position in Paycom Software, Inc. (NYSE:PAYC)

Howard Wealth Management LLC bought a new stake in Paycom Software, Inc. (NYSE:PAYC) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,200 shares of the software maker’s stock, valued at approximately $246,000.

Several other institutional investors and hedge funds also recently made changes to their positions in PAYC. CWM LLC grew its position in Paycom Software by 20.1% during the third quarter. CWM LLC now owns 2,008 shares of the software maker’s stock worth $334,000 after buying an additional 336 shares in the last quarter. Exchange Traded Concepts LLC acquired a new stake in Paycom Software during the third quarter worth approximately $265,000. Creative Planning grew its position in Paycom Software by 27.5% during the third quarter. Creative Planning now owns 7,586 shares of the software maker’s stock worth $1,264,000 after buying an additional 1,635 shares in the last quarter. NBC Securities Inc. grew its position in Paycom Software by 74.3% during the third quarter. NBC Securities Inc. now owns 1,459 shares of the software maker’s stock worth $243,000 after buying an additional 622 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Paycom Software by 2.1% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,719 shares of the software maker’s stock worth $786,000 after buying an additional 95 shares in the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Wall Street Analysts Forecast Growth

PAYC has been the topic of a number of analyst reports. Mizuho increased their price target on Paycom Software from $190.00 to $210.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. StockNews.com raised Paycom Software from a “hold” rating to a “buy” rating in a report on Friday, January 31st. Jefferies Financial Group raised their target price on Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a report on Thursday, October 31st. BMO Capital Markets raised their target price on Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a report on Thursday, October 31st. Finally, Piper Sandler raised their target price on Paycom Software from $191.00 to $224.00 and gave the company a “neutral” rating in a report on Friday. Eleven analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $209.22.

Paycom Software Stock Performance

Shares of PAYC opened at $209.72 on Friday. Paycom Software, Inc. has a 52 week low of $139.50 and a 52 week high of $242.74. The stock has a market capitalization of $12.09 billion, a price-to-earnings ratio of 25.24, a PEG ratio of 2.81 and a beta of 1.15. The stock has a fifty day moving average of $210.84 and a 200-day moving average of $191.52.

Paycom Software (NYSE:PAYC) last announced 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 32.90% and a net margin of 25.78%. As a group, equities analysts forecast that Paycom Software, Inc. will post 6.88 EPS for the current year.

Paycom Software Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 10th will be given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 0.72%. The ex-dividend date of this dividend is Monday, March 10th. Paycom Software’s dividend payout ratio is currently 18.05%.

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.