Stanley Laman Group Ltd. Makes New Investment in Paycom Software, Inc. (NYSE:PAYC)

Stanley Laman Group Ltd. bought a new position in shares of Paycom Software, Inc. (NYSE:PAYC) during the fourth quarter, HoldingsChannel reports. The fund bought 36,330 shares of the software maker’s stock, valued at approximately $7,510,000. Paycom Software comprises about 1.1% of Stanley Laman Group Ltd.’s investment portfolio, making the stock its 22nd biggest holding.

Other hedge funds have also modified their holdings of the company. Oak Family Advisors LLC purchased a new position in shares of Paycom Software during the fourth quarter worth approximately $2,994,000. Nordea Investment Management AB grew its position in Paycom Software by 8.8% in the 3rd quarter. Nordea Investment Management AB now owns 261,428 shares of the software maker’s stock valued at $68,912,000 after buying an additional 21,095 shares during the last quarter. Kornitzer Capital Management Inc. KS purchased a new position in Paycom Software in the 4th quarter valued at $6,615,000. US Bancorp DE grew its position in Paycom Software by 25.8% in the 3rd quarter. US Bancorp DE now owns 91,950 shares of the software maker’s stock valued at $23,840,000 after buying an additional 18,857 shares during the last quarter. Finally, Lecap Asset Management Ltd. purchased a new position in Paycom Software in the 4th quarter valued at $2,028,000. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PAYC has been the topic of a number of analyst reports. Citigroup lowered their price objective on shares of Paycom Software from $205.00 to $198.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 31st. Jefferies Financial Group reiterated a “hold” rating and issued a $195.00 price objective on shares of Paycom Software in a research report on Friday, January 5th. UBS Group lifted their price objective on shares of Paycom Software from $235.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, January 10th. JPMorgan Chase & Co. lifted their price objective on shares of Paycom Software from $140.00 to $165.00 and gave the company a “neutral” rating in a research report on Thursday, February 8th. Finally, 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. Seventeen analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Paycom Software has a consensus rating of “Hold” and a consensus price target of $257.18.

Paycom Software Trading Down 0.7 %

Shares of NYSE:PAYC traded down $1.33 during midday trading on Thursday, hitting $186.58. 843,256 shares of the stock were exchanged, compared to its average volume of 842,079. The stock has a market cap of $10.74 billion, a P/E ratio of 31.62, a PEG ratio of 3.21 and a beta of 1.17. Paycom Software, Inc. has a twelve month low of $146.15 and a twelve month high of $374.04. The company has a 50 day moving average price of $189.86 and a 200-day moving average price of $198.20.

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

Paycom Software Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 18th. Investors of record on Monday, March 4th were paid a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 0.80%. The ex-dividend date of this dividend was Friday, March 1st. Paycom Software’s payout ratio is 25.42%.

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.