63,170 Shares in Paycom Software, Inc. (NYSE:PAYC) Purchased by TCG Advisory Services LLC

TCG Advisory Services LLC bought a new position in shares of Paycom Software, Inc. (NYSE:PAYC) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 63,170 shares of the software maker’s stock, valued at approximately $13,058,000. Paycom Software makes up 0.9% of TCG Advisory Services LLC’s holdings, making the stock its 28th biggest position.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PAYC. Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in Paycom Software by 1.2% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,500 shares of the software maker’s stock worth $1,167,000 after purchasing an additional 52 shares during the last quarter. HBK Sorce Advisory LLC lifted its stake in Paycom Software by 5.9% during the fourth quarter. HBK Sorce Advisory LLC now owns 986 shares of the software maker’s stock worth $204,000 after purchasing an additional 55 shares during the last quarter. Renaissance Group LLC lifted its stake in Paycom Software by 1.1% during the third quarter. Renaissance Group LLC now owns 5,391 shares of the software maker’s stock worth $1,398,000 after purchasing an additional 61 shares during the last quarter. Bouvel Investment Partners LLC lifted its stake in shares of Paycom Software by 1.0% in 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 last quarter. Finally, Optas LLC lifted its stake in shares of Paycom Software by 7.0% in 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 last quarter. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Paycom Software Stock Up 2.7 %

Shares of PAYC stock traded up $4.57 during trading hours on Friday, hitting $171.29. 1,207,026 shares of the company’s stock traded hands, compared to its average volume of 838,850. The stock has a market cap of $9.86 billion, a price-to-earnings ratio of 20.86, a PEG ratio of 2.92 and a beta of 1.17. The stock’s fifty day simple moving average is $189.34 and its two-hundred day simple moving average is $193.90. 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 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. The firm 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 32.84% and a net margin of 26.91%. The company’s quarterly revenue was up 17.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.38 earnings per share. On average, equities analysts forecast that Paycom Software, Inc. will post 5.82 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Tuesday, May 28th will be given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date is Friday, May 24th. Paycom Software’s dividend payout ratio (DPR) is 18.27%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. BMO Capital Markets lowered their target price on Paycom Software from $200.00 to $190.00 and set a “market perform” rating for the company in a research note on Thursday. StockNews.com raised Paycom Software from a “hold” rating to a “buy” rating in a research note on Friday. BTIG Research assumed coverage on Paycom Software in a research note on Tuesday, February 6th. They issued a “neutral” rating for the company. Piper Sandler boosted their price target on Paycom Software from $185.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, February 8th. Finally, Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a report on Thursday. Sixteen equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $247.25.

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.