8,525 Shares in Paycom Software, Inc. (NYSE:PAYC) Acquired by Cumberland Partners Ltd

Cumberland Partners Ltd bought a new position in Paycom Software, Inc. (NYSE:PAYC) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 8,525 shares of the software maker’s stock, valued at approximately $1,747,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FMR LLC boosted its position in shares of Paycom Software by 55.0% during the 3rd quarter. FMR LLC now owns 1,007,919 shares of the software maker’s stock valued at $167,889,000 after purchasing an additional 357,723 shares in the last quarter. International Assets Investment Management LLC lifted its stake in Paycom Software by 9,997.5% during the third quarter. International Assets Investment Management LLC now owns 281,315 shares of the software maker’s stock valued at $46,859,000 after purchasing an additional 278,529 shares during the last quarter. Confluence Investment Management LLC boosted its holdings in Paycom Software by 147.3% during the third quarter. Confluence Investment Management LLC now owns 377,876 shares of the software maker’s stock worth $62,943,000 after buying an additional 225,081 shares in the last quarter. Strategic Financial Concepts LLC acquired a new position in Paycom Software in the fourth quarter worth approximately $42,893,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Paycom Software by 45.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 486,462 shares of the software maker’s stock valued at $81,030,000 after buying an additional 151,807 shares in the last quarter. 87.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PAYC has been the topic of a number of recent research reports. Piper Sandler lifted their target price on Paycom Software from $191.00 to $224.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Citigroup decreased their price target on Paycom Software from $234.00 to $221.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. TD Cowen boosted their price objective on Paycom Software from $193.00 to $248.00 and gave the stock a “hold” rating in a report on Monday, December 9th. Mizuho raised their target price on shares of Paycom Software from $190.00 to $210.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Finally, BMO Capital Markets boosted their price target on shares of Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a report on Thursday, October 31st. Eleven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $209.22.

Paycom Software Stock Up 1.1 %

NYSE PAYC opened at $215.86 on Thursday. The stock has a market capitalization of $12.45 billion, a PE ratio of 24.25, a price-to-earnings-growth ratio of 2.34 and a beta of 1.15. Paycom Software, Inc. has a 12-month low of $139.50 and a 12-month high of $242.74. The company has a 50 day moving average price of $208.86 and a two-hundred day moving average price of $193.01.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings results on Wednesday, February 12th. The software maker reported $2.02 earnings per share for the quarter, topping analysts’ consensus estimates of $1.99 by $0.03. Paycom Software had a return on equity of 33.53% and a net margin of 26.66%. As a group, equities analysts anticipate that Paycom Software, Inc. will post 7.16 EPS for the current year.

Paycom Software Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 10th will be paid a $0.375 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.50 dividend on an annualized basis and a yield of 0.69%. Paycom Software’s payout ratio is presently 16.85%.

Paycom Software 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.