Hexagon Capital Partners LLC Acquires 100 Shares of Paycom Software, Inc. (NYSE:PAYC)

Hexagon Capital Partners LLC boosted its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 333.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 130 shares of the software maker’s stock after acquiring an additional 100 shares during the quarter. Hexagon Capital Partners LLC’s holdings in Paycom Software were worth $27,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PAYC. Commonwealth Equity Services LLC raised its position in Paycom Software by 17.2% in the 3rd quarter. Commonwealth Equity Services LLC now owns 27,629 shares of the software maker’s stock worth $7,164,000 after purchasing an additional 4,046 shares during the period. Cambridge Investment Research Advisors Inc. grew its stake in shares of Paycom Software by 31.9% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 24,319 shares of the software maker’s stock valued at $6,305,000 after buying an additional 5,888 shares during the last quarter. Raymond James & Associates raised its holdings in shares of Paycom Software by 18.4% in the third quarter. Raymond James & Associates now owns 12,450 shares of the software maker’s stock worth $3,228,000 after buying an additional 1,935 shares during the period. Raymond James Financial Services Advisors Inc. lifted its stake in shares of Paycom Software by 19.2% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 27,862 shares of the software maker’s stock worth $7,224,000 after acquiring an additional 4,495 shares during the last quarter. Finally, Stratos Wealth Partners LTD. boosted its holdings in Paycom Software by 41.0% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 2,303 shares of the software maker’s stock valued at $597,000 after acquiring an additional 670 shares during the period. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Paycom Software Stock Performance

Paycom Software stock opened at $171.29 on Friday. Paycom Software, Inc. has a one year low of $146.15 and a one year high of $374.04. The stock has a market cap of $9.86 billion, a PE ratio of 20.86, a price-to-earnings-growth ratio of 2.84 and a beta of 1.17. The stock has a 50-day moving average of $189.34 and a two-hundred day moving average of $194.47.

Paycom Software (NYSE:PAYC) last released its earnings results on Wednesday, February 7th. The software maker reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.15. Paycom Software had a net margin of 26.91% and a return on equity of 32.84%. The company had revenue of $434.60 million during the quarter, compared to analysts’ expectations of $422.50 million. During the same period last year, the business earned $1.38 EPS. Paycom Software’s revenue for the quarter was up 17.3% on a year-over-year basis. As a group, sell-side analysts predict that Paycom Software, Inc. will post 5.73 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Tuesday, May 28th will be paid a $0.375 dividend. The ex-dividend date is Friday, May 24th. This represents a $1.50 dividend on an annualized basis and a yield of 0.88%. Paycom Software’s dividend payout ratio (DPR) is 18.27%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PAYC. Jefferies Financial Group reiterated a “hold” rating and issued a $195.00 target price on shares of Paycom Software in a research note on Friday, January 5th. BTIG Research assumed coverage on shares of Paycom Software in a research note on Tuesday, February 6th. They issued a “neutral” rating on the stock. Piper Sandler lifted their price target on shares of Paycom Software from $185.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, February 8th. JPMorgan Chase & Co. boosted their price target on Paycom Software from $165.00 to $175.00 and gave the company a “neutral” rating in a report on Thursday. Finally, BMO Capital Markets reduced their price objective on Paycom Software from $200.00 to $190.00 and set a “market perform” rating on the stock in a report on Thursday. Sixteen investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $247.25.

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.