Spire Wealth Management Buys 19,306 Shares of Paycom Software, Inc. (NYSE:PAYC)

Spire Wealth Management lifted its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 582.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,618 shares of the software maker’s stock after purchasing an additional 19,306 shares during the quarter. Spire Wealth Management’s holdings in Paycom Software were worth $4,379,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Oak Family Advisors LLC acquired a new stake in Paycom Software in the fourth quarter valued at approximately $2,994,000. Nordea Investment Management AB boosted its position in Paycom Software by 8.8% in the third 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 in the last quarter. Kornitzer Capital Management Inc. KS acquired a new stake in Paycom Software in the fourth quarter valued at approximately $6,615,000. US Bancorp DE boosted its position in Paycom Software by 25.8% in the third 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 in the last quarter. Finally, Lecap Asset Management Ltd. acquired a new stake in Paycom Software in the fourth quarter valued at approximately $2,028,000. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Paycom Software Trading Up 1.8 %

Paycom Software stock traded up $3.15 during midday trading on Monday, reaching $174.44. The stock had a trading volume of 732,491 shares, compared to its average volume of 870,644. The company has a fifty day moving average price of $189.34 and a two-hundred day moving average price of $193.38. Paycom Software, Inc. has a 12 month low of $146.15 and a 12 month high of $374.04. The company has a market capitalization of $10.14 billion, a P/E ratio of 21.16, a PEG ratio of 2.84 and a beta of 1.17.

Paycom Software (NYSE:PAYC) last released its quarterly earnings data on Wednesday, February 7th. The software maker reported $1.93 EPS for the quarter, beating the consensus estimate of $1.78 by $0.15. Paycom Software had a return on equity of 32.84% and a net margin of 26.91%. 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 earnings per share. The company’s quarterly revenue was up 17.3% on a year-over-year basis. On average, equities research analysts predict that Paycom Software, Inc. will post 5.82 earnings per share for the current fiscal year.

Paycom Software Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Tuesday, May 28th will be given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 0.86%. The ex-dividend date is Tuesday, May 28th. Paycom Software’s payout ratio is presently 18.27%.

Analysts Set New Price Targets

PAYC has been the topic of a number of research analyst reports. UBS Group raised their target price 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. BTIG Research started coverage on shares of Paycom Software in a research note on Tuesday, February 6th. They issued a “neutral” rating on the stock. Mizuho reduced their price objective on shares of Paycom Software from $185.00 to $170.00 and set a “neutral” rating on the stock in a research note on Monday. William Blair reissued a “market perform” rating on shares of Paycom Software in a research note on Thursday. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Paycom Software from $165.00 to $175.00 and gave the stock a “neutral” rating in a research note on Thursday. Sixteen analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Paycom Software presently has a consensus rating of “Hold” and an average target price of $246.31.

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.