JPMorgan Chase & Co. Has $78.06 Million Stock Holdings in Paycom Software, Inc. $PAYC

JPMorgan Chase & Co. boosted its stake in Paycom Software, Inc. (NYSE:PAYC) by 9.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 375,019 shares of the software maker’s stock after acquiring an additional 32,868 shares during the quarter. JPMorgan Chase & Co.’s holdings in Paycom Software were worth $78,056,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Allianz Asset Management GmbH grew its position in Paycom Software by 10,106.6% during the 3rd quarter. Allianz Asset Management GmbH now owns 486,957 shares of the software maker’s stock worth $101,355,000 after acquiring an additional 482,186 shares during the last quarter. Dillon & Associates Inc. increased its holdings in Paycom Software by 10.9% in the 3rd quarter. Dillon & Associates Inc. now owns 68,153 shares of the software maker’s stock worth $14,176,000 after purchasing an additional 6,696 shares in the last quarter. Baader Bank Aktiengesellschaft raised its position in Paycom Software by 37.1% in the third quarter. Baader Bank Aktiengesellschaft now owns 60,390 shares of the software maker’s stock valued at $12,570,000 after purchasing an additional 16,357 shares during the last quarter. Rakuten Investment Management Inc. acquired a new stake in shares of Paycom Software during the third quarter valued at about $15,432,000. Finally, Sienna Gestion acquired a new stake in shares of Paycom Software during the third quarter valued at about $4,515,000. Institutional investors and hedge funds own 87.77% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on PAYC shares. BMO Capital Markets lowered their price objective on Paycom Software from $175.00 to $137.00 and set a “market perform” rating for the company in a research note on Thursday, February 12th. KeyCorp cut their target price on shares of Paycom Software from $250.00 to $195.00 and set an “overweight” rating on the stock in a research report on Thursday, February 12th. UBS Group reduced their target price on shares of Paycom Software from $245.00 to $210.00 and set a “buy” rating on the stock in a report on Monday, January 26th. Barclays upped their price target on shares of Paycom Software from $140.00 to $150.00 and gave the company an “equal weight” rating in a research report on Friday, March 6th. Finally, Cantor Fitzgerald raised their price target on shares of Paycom Software from $115.00 to $135.00 and gave the company a “neutral” rating in a research note on Friday, March 6th. Five investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $170.71.

Paycom Software Price Performance

Shares of PAYC opened at $124.54 on Thursday. The business has a 50-day moving average of $134.42 and a 200-day moving average of $167.76. The company has a market capitalization of $6.76 billion, a price-to-earnings ratio of 15.39, a price-to-earnings-growth ratio of 1.33 and a beta of 0.80. Paycom Software, Inc. has a 1 year low of $104.90 and a 1 year high of $267.76.

Paycom Software (NYSE:PAYC) last announced its earnings results on Wednesday, February 11th. The software maker reported $2.45 EPS for the quarter, beating the consensus estimate of $2.44 by $0.01. The business had revenue of $544.30 million for the quarter, compared to analysts’ expectations of $542.79 million. Paycom Software had a return on equity of 24.25% and a net margin of 22.10%.The firm’s revenue was up 10.2% on a year-over-year basis. During the same period in the prior year, the business posted $2.32 earnings per share. As a group, sell-side analysts anticipate that Paycom Software, Inc. will post 7.15 EPS for the current year.

Paycom Software Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 23rd. Stockholders of record on Monday, March 9th will be paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Monday, March 9th. Paycom Software’s dividend payout ratio is currently 18.54%.

Paycom Software Profile

Paycom Software, Inc (NYSE: PAYC) is a cloud-based human capital management (HCM) software provider that delivers an end-to-end solution for human resources, payroll, talent acquisition, time and labor management, and talent management. Its single-database platform enables organizations to process payroll, track time, administer benefits, and manage recruiting and employee development through a unified system. Paycom’s software is designed to streamline administrative tasks, improve data accuracy, and provide real-time reporting and analytics to support strategic HR decisions.

The company’s core offerings include payroll processing with built-in tax compliance, employee self-service functionality, automated time tracking, and customizable talent acquisition tools that allow employers to create and post job requisitions, screen candidates, and conduct onboarding electronically.