OLD National Bancorp IN Purchases 518 Shares of Paycom Software, Inc. (NYSE:PAYC)

OLD National Bancorp IN lifted its position in shares of Paycom Software, Inc. (NYSE:PAYC) by 46.8% during the fourth quarter, HoldingsChannel reports. The firm owned 1,626 shares of the software maker’s stock after buying an additional 518 shares during the quarter. OLD National Bancorp IN’s holdings in Paycom Software were worth $336,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of Paycom Software by 1.2% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,500 shares of the software maker’s stock worth $1,167,000 after purchasing an additional 52 shares in the last quarter. HBK Sorce Advisory LLC lifted its position in Paycom Software by 5.9% in the 4th quarter. HBK Sorce Advisory LLC now owns 986 shares of the software maker’s stock valued at $204,000 after acquiring an additional 55 shares in the last quarter. Renaissance Group LLC lifted its position in Paycom Software by 1.1% in the 3rd quarter. Renaissance Group LLC now owns 5,391 shares of the software maker’s stock valued at $1,398,000 after acquiring an additional 61 shares in the last quarter. Bouvel Investment Partners LLC lifted its position in Paycom Software by 1.0% in the 4th quarter. Bouvel Investment Partners LLC now owns 6,431 shares of the software maker’s stock valued at $1,329,000 after acquiring an additional 63 shares in the last quarter. Finally, Optas LLC lifted its position in Paycom Software by 7.0% in the 4th quarter. Optas LLC now owns 998 shares of the software maker’s stock valued at $206,000 after acquiring an additional 65 shares in the last quarter. 87.77% of the stock is owned by institutional investors.

Paycom Software Stock Performance

Shares of PAYC opened at $186.58 on Friday. The firm’s 50-day simple moving average is $189.86 and its 200 day simple moving average is $198.20. Paycom Software, Inc. has a 52 week low of $146.15 and a 52 week high of $374.04. The firm has a market cap of $10.74 billion, a P/E ratio of 31.62, a price-to-earnings-growth ratio of 3.20 and a beta of 1.17.

Paycom Software (NYSE:PAYC) last announced its 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. Paycom Software had a net margin of 20.12% and a return on equity of 24.60%. The firm had revenue of $434.60 million for the quarter, compared to analyst estimates of $422.50 million. During the same quarter in the prior year, the business posted $1.38 EPS. The business’s revenue was up 17.3% compared to the same quarter last year. As a group, equities analysts forecast that Paycom Software, Inc. will post 5.73 earnings per share for the current year.

Paycom Software Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 18th. Shareholders of record on Monday, March 4th were given a dividend of $0.375 per share. The ex-dividend date was Friday, March 1st. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.80%. Paycom Software’s payout ratio is presently 25.42%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. UBS Group boosted their price objective on shares of Paycom Software from $235.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, January 10th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $195.00 price objective on shares of Paycom Software in a research report on Friday, January 5th. BTIG Research started coverage on shares of Paycom Software in a research report on Tuesday, February 6th. They issued a “neutral” rating on the stock. Citigroup cut their price target on shares of Paycom Software from $205.00 to $198.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 31st. Finally, JPMorgan Chase & Co. boosted their price target on shares of Paycom Software from $140.00 to $165.00 and gave the stock a “neutral” rating in a research report on Thursday, February 8th. Seventeen analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $257.18.

Paycom Software Company Profile

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.