Congress Asset Management Co. Takes Position in Paycom Software, Inc. (NYSE:PAYC)

Congress Asset Management Co. acquired a new stake in Paycom Software, Inc. (NYSE:PAYC) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 977 shares of the software maker’s stock, valued at approximately $200,000.

Other institutional investors also recently bought and sold shares of the company. Nisa Investment Advisors LLC raised its holdings in shares of Paycom Software by 51.4% in the third quarter. Nisa Investment Advisors LLC now owns 2,666 shares of the software maker’s stock worth $444,000 after buying an additional 905 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Paycom Software by 14.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 326,018 shares of the software maker’s stock valued at $54,305,000 after acquiring an additional 41,187 shares during the period. Principal Financial Group Inc. raised its stake in Paycom Software by 9.3% in the 3rd quarter. Principal Financial Group Inc. now owns 65,809 shares of the software maker’s stock worth $10,962,000 after acquiring an additional 5,574 shares during the last quarter. FMR LLC lifted its position in Paycom Software by 55.0% during the 3rd quarter. FMR LLC now owns 1,007,919 shares of the software maker’s stock worth $167,889,000 after acquiring an additional 357,723 shares during the period. Finally, Nordea Investment Management AB grew its stake in Paycom Software by 3.5% during the 4th quarter. Nordea Investment Management AB now owns 204,377 shares of the software maker’s stock valued at $41,952,000 after purchasing an additional 6,916 shares during the last quarter. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PAYC has been the subject of several research analyst reports. Jefferies Financial Group raised their price objective on Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. Mizuho lifted their price objective on shares of Paycom Software from $190.00 to $210.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. TD Cowen upped their price objective on shares of Paycom Software from $193.00 to $248.00 and gave the company a “hold” rating in a report on Monday, December 9th. Barclays reduced their target price on shares of Paycom Software from $229.00 to $221.00 and set an “equal weight” rating for the company in a report on Thursday, January 23rd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a report on Thursday, February 13th. Eleven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Paycom Software currently has an average rating of “Hold” and a consensus price target of $209.22.

Paycom Software Stock Performance

PAYC opened at $213.52 on Wednesday. The company has a fifty day moving average of $209.80 and a two-hundred day moving average of $192.50. The stock has a market capitalization of $12.31 billion, a price-to-earnings ratio of 25.69, a PEG ratio of 2.81 and a beta of 1.15. Paycom Software, Inc. has a fifty-two week low of $139.50 and a fifty-two week high of $242.74.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings results on Wednesday, February 12th. The software maker reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.99 by $0.03. Paycom Software had a return on equity of 32.90% and a net margin of 25.78%. On average, equities research analysts forecast that Paycom Software, Inc. will post 6.88 earnings per share for the current year.

Paycom Software Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 10th will be paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 0.70%. The ex-dividend date is Monday, March 10th. Paycom Software’s payout ratio is 18.05%.

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.