National Bank of Canada FI Has $10.14 Million Stock Position in Paycom Software, Inc. (NYSE:PAYC)

National Bank of Canada FI lifted its position in shares of Paycom Software, Inc. (NYSE:PAYC) by 367.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 49,541 shares of the software maker’s stock after purchasing an additional 38,951 shares during the quarter. National Bank of Canada FI’s holdings in Paycom Software were worth $10,136,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of PAYC. Hexagon Capital Partners LLC raised its position in Paycom Software by 333.3% in the fourth quarter. Hexagon Capital Partners LLC now owns 130 shares of the software maker’s stock worth $27,000 after purchasing an additional 100 shares in the last quarter. Cary Street Partners Investment Advisory LLC boosted its stake in shares of 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 valued at $40,000 after purchasing an additional 71 shares in the last quarter. GAMMA Investing LLC bought a new stake in shares of Paycom Software in the 4th quarter worth about $49,000. Headlands Technologies LLC acquired a new position in Paycom Software in the third quarter valued at about $52,000. Finally, Operose Advisors LLC bought a new position in shares of Paycom Software in the third quarter valued at approximately $55,000. 87.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

PAYC has been the subject of a number of research reports. William Blair restated a “market perform” rating on shares of Paycom Software in a research note on Thursday, May 2nd. Mizuho dropped their target price on shares of Paycom Software from $185.00 to $170.00 and set a “neutral” rating for the company in a research note on Monday. JPMorgan Chase & Co. increased their price target on shares of Paycom Software from $165.00 to $175.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. Piper Sandler upped their price objective on Paycom Software from $185.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, February 8th. Finally, UBS Group lifted their price target on shares of Paycom Software from $235.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, January 10th. Sixteen investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $246.31.

Paycom Software Price Performance

Shares of Paycom Software stock opened at $172.26 on Thursday. The firm has a market cap of $10.01 billion, a price-to-earnings ratio of 20.98, a price-to-earnings-growth ratio of 2.84 and a beta of 1.17. Paycom Software, Inc. has a one year low of $146.15 and a one year high of $374.04. The stock’s 50-day moving average is $188.87 and its 200-day moving average is $192.02.

Paycom Software (NYSE:PAYC) last released its earnings results on Wednesday, February 7th. The software maker reported $1.93 EPS for the quarter, beating the consensus estimate 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 business’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.38 EPS. On average, equities analysts expect that Paycom Software, Inc. will post 5.82 EPS for the current year.

Paycom Software Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Tuesday, May 28th will be given a dividend of $0.375 per share. The ex-dividend date of this dividend is Friday, May 24th. This represents a $1.50 annualized dividend and a yield of 0.87%. Paycom Software’s dividend payout ratio (DPR) is presently 18.27%.

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.