Contour Asset Management LLC bought a new stake in Paycom Software, Inc. (NYSE:PAYC – Free Report) in the 4th quarter, Holdings Channel.com reports. The fund bought 378,595 shares of the software maker’s stock, valued at approximately $60,333,000. Paycom Software makes up 1.4% of Contour Asset Management LLC’s investment portfolio, making the stock its 22nd largest holding.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. CYBER HORNET ETFs LLC acquired a new stake in shares of Paycom Software in the 2nd quarter valued at $29,000. Caitlin John LLC acquired a new stake in shares of Paycom Software in the 3rd quarter valued at $29,000. MUFG Securities EMEA plc acquired a new stake in shares of Paycom Software in the 2nd quarter valued at $33,000. Brown Brothers Harriman & Co. increased its stake in shares of Paycom Software by 190.6% in the 4th quarter. Brown Brothers Harriman & Co. now owns 154 shares of the software maker’s stock valued at $25,000 after buying an additional 101 shares during the period. Finally, True Wealth Design LLC increased its stake in shares of Paycom Software by 946.7% in the 4th quarter. True Wealth Design LLC now owns 157 shares of the software maker’s stock valued at $25,000 after buying an additional 142 shares during the period. 87.77% of the stock is owned by institutional investors and hedge funds.
Paycom Software Stock Down 3.9%
NYSE:PAYC opened at $124.07 on Thursday. Paycom Software, Inc. has a 12-month low of $104.90 and a 12-month high of $248.95. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $5.91 billion, a P/E ratio of 14.34, a P/E/G ratio of 1.12 and a beta of 0.79. The stock’s fifty day simple moving average is $131.71 and its 200-day simple moving average is $137.90.
Paycom Software Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, June 8th. Stockholders of record on Tuesday, May 26th were given a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Tuesday, May 26th. Paycom Software’s dividend payout ratio (DPR) is currently 17.34%.
Analyst Upgrades and Downgrades
Several equities research analysts have recently commented on PAYC shares. Citigroup lifted their target price on Paycom Software from $120.00 to $136.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Cantor Fitzgerald lifted their target price on Paycom Software from $115.00 to $135.00 and gave the company a “neutral” rating in a research note on Friday, March 6th. Weiss Ratings reissued a “sell (d+)” rating on shares of Paycom Software in a research note on Friday, May 1st. Barclays lowered their target price on Paycom Software from $150.00 to $148.00 and set an “equal weight” rating for the company in a research note on Thursday, May 7th. Finally, TD Cowen lifted their target price on Paycom Software from $148.00 to $154.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $159.67.
Get Our Latest Research Report on PAYC
Paycom Software Company 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.
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