Parkside Financial Bank & Trust Grows Position in Paycom Software, Inc. (NYSE:PAYC)

Parkside Financial Bank & Trust boosted its stake in Paycom Software, Inc. (NYSE:PAYC) by 17.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,009 shares of the software maker’s stock after purchasing an additional 149 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Paycom Software were worth $209,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Cary Street Partners Investment Advisory LLC lifted its position in Paycom Software by 83.5% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 156 shares of the software maker’s stock valued at $40,000 after buying an additional 71 shares in the last quarter. Headlands Technologies LLC acquired a new position in Paycom Software during the third quarter valued at approximately $52,000. Operose Advisors LLC acquired a new position in shares of Paycom Software during the third quarter worth $55,000. Rakuten Securities Inc. acquired a new position in shares of Paycom Software during the fourth quarter worth $62,000. Finally, Clearstead Advisors LLC lifted its position in shares of Paycom Software by 2,536.8% during the third quarter. Clearstead Advisors LLC now owns 501 shares of the software maker’s stock worth $130,000 after purchasing an additional 482 shares in the last quarter. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PAYC. Piper Sandler boosted their target price on shares of Paycom Software from $185.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, February 8th. BTIG Research began coverage on shares of Paycom Software in a research report on Tuesday, February 6th. They set a “neutral” rating on the stock. Jefferies Financial Group reissued a “hold” rating and set a $195.00 target price on shares of Paycom Software in a research report on Friday, January 5th. UBS Group upped their price target on shares of Paycom Software from $235.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, January 10th. Finally, JPMorgan Chase & Co. upped their price target on shares of Paycom Software from $140.00 to $165.00 and gave the company a “neutral” rating in a report on Thursday, February 8th. Seventeen research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $257.18.

Paycom Software Stock Performance

Shares of Paycom Software stock traded down $3.86 during trading on Wednesday, hitting $184.23. 232,741 shares of the stock were exchanged, compared to its average volume of 837,779. The stock’s fifty day moving average is $190.04 and its 200 day moving average is $198.36. The stock has a market cap of $10.60 billion, a PE ratio of 31.88, a P/E/G ratio of 3.18 and a beta of 1.17. Paycom Software, Inc. has a 12 month low of $146.15 and a 12 month high of $374.04.

Paycom Software (NYSE:PAYC) last released its quarterly earnings results on Wednesday, February 7th. The software maker reported $1.93 EPS for the quarter, topping the consensus estimate of $1.78 by $0.15. The business had revenue of $434.60 million during 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 company’s quarterly revenue was up 17.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.38 earnings per share. Sell-side analysts anticipate that Paycom Software, Inc. will post 5.73 EPS for the current fiscal year.

Paycom Software Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 18th. Investors of record on Monday, March 4th were issued a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 0.81%. The ex-dividend date of this dividend was Friday, March 1st. Paycom Software’s payout ratio is currently 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.