Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Raises Stock Holdings in Paycom Software, Inc. (NYSE:PAYC)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its position in Paycom Software, Inc. (NYSE:PAYC) by 6.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 905,783 shares of the software maker’s stock after acquiring an additional 50,879 shares during the period. Paycom Software makes up about 1.7% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s portfolio, making the stock its 20th biggest holding. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA owned about 1.50% of Paycom Software worth $172,316,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Paycom Software by 1.2% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,500 shares of the software maker’s stock valued at $1,167,000 after buying an additional 52 shares during the last quarter. HBK Sorce Advisory LLC raised its stake in shares of Paycom Software by 5.9% during the 4th quarter. HBK Sorce Advisory LLC now owns 986 shares of the software maker’s stock valued at $204,000 after buying an additional 55 shares during the last quarter. Renaissance Group LLC grew its position in shares of Paycom Software by 1.1% during the 3rd quarter. Renaissance Group LLC now owns 5,391 shares of the software maker’s stock valued at $1,398,000 after acquiring an additional 61 shares during the period. Bouvel Investment Partners LLC grew its position in shares of Paycom Software by 1.0% during the 4th quarter. Bouvel Investment Partners LLC now owns 6,431 shares of the software maker’s stock valued at $1,329,000 after acquiring an additional 63 shares during the period. Finally, Optas LLC grew its position in shares of Paycom Software by 7.0% during the 4th quarter. Optas LLC now owns 998 shares of the software maker’s stock valued at $206,000 after acquiring an additional 65 shares during the period. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Paycom Software Stock Up 1.9 %

NYSE:PAYC traded up $3.47 during trading hours on Monday, reaching $186.72. 522,054 shares of the stock were exchanged, compared to its average volume of 848,915. The business has a 50-day moving average of $190.02 and a two-hundred day moving average of $198.94. Paycom Software, Inc. has a twelve month low of $146.15 and a twelve month high of $374.04. The company has a market capitalization of $10.75 billion, a price-to-earnings ratio of 31.65, a PEG ratio of 3.13 and a beta of 1.17.

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 analysts’ consensus estimates of $1.78 by $0.15. Paycom Software had a return on equity of 24.60% and a net margin of 20.12%. The company had revenue of $434.60 million for the quarter, compared to analysts’ expectations of $422.50 million. During the same period in the prior year, the firm earned $1.38 earnings per share. The firm’s revenue was up 17.3% compared to the same quarter last year. On average, research analysts forecast that Paycom Software, Inc. will post 5.73 EPS for the current fiscal year.

Paycom Software Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Citigroup dropped their target price on Paycom Software from $205.00 to $198.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 31st. Piper Sandler lifted their price objective on Paycom Software from $185.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, February 8th. BTIG Research started coverage on Paycom Software in a report on Tuesday, February 6th. They issued a “neutral” rating on the stock. 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, JPMorgan Chase & Co. lifted their price objective on Paycom Software from $140.00 to $165.00 and gave the stock a “neutral” rating in a report on Thursday, February 8th. Seventeen research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price 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.