Rakuten Securities Inc. Purchases Shares of 300 Paycom Software, Inc. (NYSE:PAYC)

Rakuten Securities Inc. acquired a new position in shares of Paycom Software, Inc. (NYSE:PAYC) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 300 shares of the software maker’s stock, valued at approximately $62,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Alliancebernstein L.P. raised its holdings in shares of Paycom Software by 59.6% during the 2nd quarter. Alliancebernstein L.P. now owns 2,146,132 shares of the software maker’s stock valued at $689,423,000 after buying an additional 801,539 shares in the last quarter. International Assets Investment Management LLC increased 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 purchasing an additional 782,962 shares during the period. Morgan Stanley increased its stake in Paycom Software by 147.5% in the 4th quarter. Morgan Stanley now owns 1,084,991 shares of the software maker’s stock worth $336,684,000 after purchasing an additional 646,679 shares during the period. Meritage Group LP bought a new stake in Paycom Software in the third quarter valued at approximately $103,800,000. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Paycom Software by 47.8% during the first quarter. Goldman Sachs Group Inc. now owns 877,824 shares of the software maker’s stock valued at $304,061,000 after purchasing an additional 283,892 shares during the period. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Paycom Software Price Performance

Shares of PAYC stock opened at $186.86 on Thursday. Paycom Software, Inc. has a one year low of $146.15 and a one year high of $374.04. The company’s fifty day moving average price is $190.47 and its 200-day moving average price is $200.97. The company has a market capitalization of $10.75 billion, a price-to-earnings ratio of 31.67, a PEG ratio of 3.24 and a beta of 1.17.

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

Paycom Software Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on PAYC shares. 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. BTIG Research started coverage on Paycom Software in a research note on Tuesday, February 6th. They issued a “neutral” rating for the company. UBS Group upped their price target on Paycom Software from $235.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, January 10th. Jefferies Financial Group reiterated a “hold” rating and issued a $195.00 price objective on shares of Paycom Software in a report on Friday, January 5th. Finally, Piper Sandler boosted their target price 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. Seventeen equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Paycom Software has a consensus rating of “Hold” and an average price target of $257.18.

About Paycom Software

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.