Avory & Company LLC Invests $528,000 in Paycom Software, Inc. (NYSE:PAYC)

Avory & Company LLC bought a new position in Paycom Software, Inc. (NYSE:PAYC) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,554 shares of the software maker’s stock, valued at approximately $528,000. Paycom Software comprises about 0.4% of Avory & Company LLC’s investment portfolio, making the stock its 16th largest position.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Cary Street Partners Investment Advisory LLC grew its position in Paycom Software by 83.5% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 156 shares of the software maker’s stock worth $40,000 after purchasing an additional 71 shares during the last quarter. GAMMA Investing LLC bought a new position in Paycom Software in the 4th quarter worth about $49,000. Headlands Technologies LLC bought a new position in Paycom Software in the 3rd quarter worth about $52,000. Operose Advisors LLC bought a new position in Paycom Software in the 3rd quarter worth about $55,000. Finally, Rakuten Securities Inc. bought a new position in Paycom Software in the 4th quarter worth about $62,000. Institutional investors own 87.77% of the company’s stock.

Paycom Software Stock Down 1.2 %

NYSE PAYC traded down $2.26 during midday trading on Tuesday, hitting $190.93. The company had a trading volume of 423,326 shares, compared to its average volume of 833,318. The stock has a market cap of $10.99 billion, a price-to-earnings ratio of 32.74, a P/E/G ratio of 3.22 and a beta of 1.17. The firm has a fifty day simple moving average of $189.87 and a two-hundred day simple moving average of $195.96. Paycom Software, Inc. has a fifty-two week low of $146.15 and a fifty-two week high of $374.04.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings results on Wednesday, February 7th. The software maker reported $1.93 earnings per share (EPS) for the quarter, topping 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 company had revenue of $434.60 million for the quarter, compared to analyst estimates of $422.50 million. During the same period last year, the business posted $1.38 EPS. The business’s quarterly revenue was up 17.3% on a year-over-year basis. As a group, equities analysts predict that Paycom Software, Inc. will post 5.73 earnings per share for the current 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 0.79%. Paycom Software’s dividend payout ratio (DPR) is currently 25.42%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PAYC. Citigroup decreased their price objective on shares of Paycom Software from $205.00 to $198.00 and set a “neutral” rating for the company in a report on Wednesday, January 31st. Piper Sandler raised their target price on shares of Paycom Software from $185.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, February 8th. JPMorgan Chase & Co. raised their target price on shares of Paycom Software from $140.00 to $165.00 and gave the stock a “neutral” rating in a report on Thursday, February 8th. BTIG Research started coverage on shares of Paycom Software in a report on Tuesday, February 6th. They set a “neutral” rating for the company. Finally, UBS Group raised their target price on shares of Paycom Software from $235.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, January 10th. Seventeen equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $257.18.

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.