Kovack Advisors Inc. Raises Stock Position in Paycom Software, Inc. (NYSE:PAYC)

Kovack Advisors Inc. boosted its position in shares of Paycom Software, Inc. (NYSE:PAYC) by 8.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,345 shares of the software maker’s stock after acquiring an additional 192 shares during the period. Kovack Advisors Inc.’s holdings in Paycom Software were worth $485,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Paycom Software by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 5,799,327 shares of the software maker’s stock worth $1,503,592,000 after buying an additional 32,038 shares in the last quarter. American Century Companies Inc. grew its stake in Paycom Software by 18.8% in the 3rd quarter. American Century Companies Inc. now owns 1,139,511 shares of the software maker’s stock worth $295,441,000 after buying an additional 180,202 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its stake in Paycom Software by 6.0% in the 4th quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 905,783 shares of the software maker’s stock worth $172,316,000 after buying an additional 50,879 shares in the last quarter. International Assets Investment Management LLC grew its stake in Paycom Software by 16,173.6% in the 4th quarter. International Assets Investment Management LLC now owns 787,803 shares of the software maker’s stock worth $162,855,000 after buying an additional 782,962 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Paycom Software by 3.8% in the 3rd quarter. Northern Trust Corp now owns 538,282 shares of the software maker’s stock worth $139,560,000 after acquiring an additional 19,900 shares during the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on PAYC shares. JPMorgan Chase & Co. boosted their price objective on shares of Paycom Software from $140.00 to $165.00 and gave the stock a “neutral” rating in a report on Thursday, February 8th. UBS Group boosted their price objective on shares of Paycom Software from $235.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, January 10th. Jefferies Financial Group restated a “hold” rating and issued a $195.00 price objective on shares of Paycom Software in a report on Friday, January 5th. Piper Sandler upped their price target on shares of Paycom Software from $185.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, February 8th. Finally, BTIG Research assumed coverage on shares of Paycom Software in a report on Tuesday, February 6th. They set a “neutral” rating for the company. Seventeen equities research 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, Paycom Software presently has an average rating of “Hold” and an average target price of $257.18.

Paycom Software Price Performance

NYSE:PAYC opened at $188.89 on Monday. The firm’s 50-day moving average price is $189.82 and its 200-day moving average price is $196.49. The company has a market capitalization of $10.87 billion, a PE ratio of 32.02, a P/E/G ratio of 3.22 and a beta of 1.17. Paycom Software, Inc. has a 1-year low of $146.15 and a 1-year high of $374.04.

Paycom Software (NYSE:PAYC) last released its earnings results on Wednesday, February 7th. The software maker reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.15. The firm had revenue of $434.60 million for the quarter, compared to the consensus estimate of $422.50 million. Paycom Software had a net margin of 20.12% and a return on equity of 24.60%. The company’s revenue was up 17.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.38 EPS. Equities analysts anticipate that Paycom Software, Inc. will post 5.73 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 18th. Investors of record on Monday, March 4th were given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 0.79%. The ex-dividend date was Friday, March 1st. Paycom Software’s dividend payout ratio (DPR) is 25.42%.

Paycom Software 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.