Highlander Partners L.P. Acquires 6,800 Shares of Paycom Software, Inc. (NYSE:PAYC)

Highlander Partners L.P. grew its stake in Paycom Software, Inc. (NYSE:PAYC) by 108.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,050 shares of the software maker’s stock after acquiring an additional 6,800 shares during the quarter. Paycom Software comprises about 2.2% of Highlander Partners L.P.’s portfolio, making the stock its 15th biggest position. Highlander Partners L.P.’s holdings in Paycom Software were worth $2,698,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in PAYC. Vanguard Group Inc. increased its holdings in shares of Paycom Software by 0.6% during the 3rd quarter. Vanguard Group Inc. now owns 5,799,327 shares of the software maker’s stock valued at $1,503,592,000 after purchasing an additional 32,038 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Paycom Software by 18.8% during the third quarter. American Century Companies Inc. now owns 1,139,511 shares of the software maker’s stock worth $295,441,000 after purchasing an additional 180,202 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its stake in Paycom Software by 6.0% in the 4th quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 905,783 shares of the software maker’s stock valued at $172,316,000 after buying an additional 50,879 shares in the last quarter. International Assets Investment Management LLC boosted its holdings in Paycom Software by 16,173.6% in the 4th quarter. International Assets Investment Management LLC now owns 787,803 shares of the software maker’s stock worth $162,855,000 after buying an additional 782,962 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in shares of Paycom Software by 3.8% during the third quarter. Northern Trust Corp now owns 538,282 shares of the software maker’s stock valued at $139,560,000 after acquiring an additional 19,900 shares during the last quarter. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PAYC has been the subject of several recent research reports. Mizuho reduced their price objective on Paycom Software from $185.00 to $170.00 and set a “neutral” rating for the company in a research note on Monday. Citigroup lowered their price objective on shares of Paycom Software from $196.00 to $193.00 and set a “neutral” rating for the company in a research report on Thursday, May 2nd. BTIG Research initiated coverage on shares of Paycom Software in a research report on Tuesday, February 6th. They set a “neutral” rating on the stock. William Blair reiterated a “market perform” rating on shares of Paycom Software in a report on Thursday, May 2nd. Finally, StockNews.com upgraded Paycom Software from a “hold” rating to a “buy” rating in a research note on Friday. Sixteen investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $246.31.

Paycom Software Stock Up 1.3 %

NYSE PAYC traded up $2.23 during trading hours on Tuesday, hitting $176.67. The company had a trading volume of 239,543 shares, compared to its average volume of 863,486. Paycom Software, Inc. has a fifty-two week low of $146.15 and a fifty-two week high of $374.04. The business has a fifty day simple moving average of $189.23 and a 200-day simple moving average of $192.74. The firm has a market cap of $10.27 billion, a P/E ratio of 21.65, a price-to-earnings-growth ratio of 2.84 and a beta of 1.17.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings data on Wednesday, February 7th. The software maker reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.15. The firm had revenue of $434.60 million during the quarter, compared to analyst estimates 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 period last year, the company posted $1.38 EPS. Equities analysts forecast that Paycom Software, Inc. will post 5.82 EPS for the current fiscal year.

Paycom Software Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Tuesday, May 28th will be paid a $0.375 dividend. The ex-dividend date is Friday, May 24th. This represents a $1.50 dividend on an annualized basis and a yield of 0.85%. Paycom Software’s payout ratio is currently 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.