abrdn plc Acquires 8,971 Shares of Paycom Software, Inc. (NYSE:PAYC)

abrdn plc raised its holdings in Paycom Software, Inc. (NYSE:PAYC) by 61.8% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 23,488 shares of the software maker’s stock after purchasing an additional 8,971 shares during the quarter. abrdn plc’s holdings in Paycom Software were worth $4,855,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Cary Street Partners Investment Advisory LLC raised 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 valued at $40,000 after purchasing an additional 71 shares during the last quarter. Headlands Technologies LLC bought a new position in Paycom Software in the 3rd quarter valued at $52,000. Operose Advisors LLC bought a new position in Paycom Software in the 3rd quarter valued at $55,000. Rakuten Securities Inc. bought a new position in Paycom Software in the 4th quarter valued at $62,000. Finally, Clearstead Advisors LLC raised its position in Paycom Software by 2,536.8% in the 3rd quarter. Clearstead Advisors LLC now owns 501 shares of the software maker’s stock valued at $130,000 after purchasing an additional 482 shares during the last quarter. Institutional investors own 87.77% of the company’s stock.

Paycom Software Trading Up 1.2 %

NYSE:PAYC opened at $188.89 on Friday. Paycom Software, Inc. has a 1 year low of $146.15 and a 1 year high of $374.04. The stock has a market cap of $10.87 billion, a price-to-earnings ratio of 32.02, a PEG ratio of 3.22 and a beta of 1.17. The stock has a 50-day moving average price of $189.82 and a two-hundred day moving average price of $197.06.

Paycom Software (NYSE:PAYC) last posted its earnings results on Wednesday, February 7th. The software maker reported $1.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.78 by $0.15. Paycom Software had a return on equity of 24.60% and a net margin of 20.12%. The firm had revenue of $434.60 million during the quarter, compared to analysts’ expectations of $422.50 million. During the same period in the previous year, the firm earned $1.38 earnings per share. The company’s revenue was up 17.3% on a year-over-year basis. Sell-side analysts forecast 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 was paid on Monday, March 18th. Shareholders of record on Monday, March 4th were paid a $0.375 dividend. The ex-dividend date was Friday, March 1st. This represents a $1.50 dividend on an annualized basis and a yield of 0.79%. Paycom Software’s payout ratio is 25.42%.

Analysts Set New Price Targets

PAYC has been the subject of several research analyst reports. BTIG Research assumed coverage on Paycom Software in a research report on Tuesday, February 6th. They issued a “neutral” rating for the company. Citigroup dropped their target price on Paycom Software from $205.00 to $198.00 and set a “neutral” rating for the company in a research report on Wednesday, January 31st. UBS Group boosted their target price on Paycom Software from $235.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, January 10th. Jefferies Financial Group restated a “hold” rating and set a $195.00 target price on shares of Paycom Software in a research report on Friday, January 5th. Finally, JPMorgan Chase & Co. boosted their target price on Paycom Software from $140.00 to $165.00 and gave the stock a “neutral” rating in a research report on Thursday, February 8th. Seventeen analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average 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.