Van ECK Associates Corp Grows Stock Holdings in Paycom Software, Inc. (NYSE:PAYC)

Van ECK Associates Corp boosted its stake in Paycom Software, Inc. (NYSE:PAYCFree Report) by 5.3% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 12,124 shares of the software maker’s stock after acquiring an additional 605 shares during the quarter. Van ECK Associates Corp’s holdings in Paycom Software were worth $3,143,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Fairfield Bush & CO. acquired a new stake in Paycom Software in the 2nd quarter valued at $27,000. KB Financial Partners LLC acquired a new stake in Paycom Software in the 1st quarter valued at $28,000. Clear Street Markets LLC grew its stake in Paycom Software by 98.0% in the 1st quarter. Clear Street Markets LLC now owns 97 shares of the software maker’s stock valued at $29,000 after acquiring an additional 48 shares during the period. Lindbrook Capital LLC grew its stake in Paycom Software by 5,100.0% in the 2nd quarter. Lindbrook Capital LLC now owns 104 shares of the software maker’s stock valued at $33,000 after acquiring an additional 102 shares during the period. Finally, Sunbelt Securities Inc. acquired a new stake in Paycom Software in the 1st quarter valued at $33,000. Institutional investors and hedge funds own 88.69% of the company’s stock.

Paycom Software Stock Up 0.9 %

Shares of PAYC opened at $191.69 on Tuesday. The firm has a market cap of $11.55 billion, a P/E ratio of 32.49, a price-to-earnings-growth ratio of 2.60 and a beta of 1.21. Paycom Software, Inc. has a 12-month low of $146.15 and a 12-month high of $374.04. The company’s 50-day moving average price is $197.45 and its 200 day moving average price is $232.88. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.02.

Paycom Software (NYSE:PAYCGet Free Report) last issued its quarterly earnings results on Wednesday, February 7th. The software maker reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.15. The company had revenue of $434.60 million for the quarter, compared to analyst estimates of $422.50 million. Paycom Software had a net margin of 20.12% and a return on equity of 24.60%. The business’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.38 earnings per share. On average, sell-side analysts forecast that Paycom Software, Inc. will post 6.25 earnings per share for the current year.

Paycom Software Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 18th. Shareholders of record on Monday, March 4th will be paid a dividend of $0.375 per share. The ex-dividend date is Friday, March 1st. This represents a $1.50 dividend on an annualized basis and a yield of 0.78%. Paycom Software’s dividend payout ratio (DPR) is presently 25.42%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on PAYC shares. TD Cowen cut shares of Paycom Software from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $331.00 to $202.00 in a research note on Wednesday, November 1st. BMO Capital Markets lowered their target price on shares of Paycom Software from $320.00 to $190.00 and set a “market perform” rating on the stock in a research note on Wednesday, November 1st. Piper Sandler lifted their target price on shares of Paycom Software from $185.00 to $190.00 and gave the stock a “neutral” rating in a research note on Thursday, February 8th. Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a research note on Wednesday, November 1st. Finally, Bank of America cut shares of Paycom Software from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $330.00 to $185.00 in a research note on Thursday, November 2nd. Seventeen analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Paycom Software has a consensus rating of “Hold” and a consensus target price of $262.33.

Read Our Latest Report on Paycom Software

About Paycom Software

(Free Report)

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.

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Institutional Ownership by Quarter for Paycom Software (NYSE:PAYC)

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