Asahi Life Asset Management CO. LTD. has purchased a new stake in Paycom Software, Inc. during the second quarter, according to a recent filing with the SEC. The firm acquired 1,020 shares of the software maker’s stock, worth approximately $328,000. This move by Asahi Life Asset Management is in addition to several other hedge funds modifying their holdings of Paycom Software.
Ridgewood Investments LLC purchased a stake in Paycom Software during the first quarter worth about $26,000, while HHM Wealth Advisors LLC increased its holdings by 350% during the same period. KB Financial Partners LLC and Clear Street Markets LLC also acquired stakes during the first quarter, with Massmutual Trust Co. FSB ADV boosting its holdings by 466.7%. Currently, approximately 88.69% of the stock is owned by hedge funds and institutional investors.
Wall Street Analysts Give Paycom Software a Positive Outlook
PAYC stock has received positive outlooks from several research firms. Barclays lowered their price target on Paycom Software to $350.00, while Oppenheimer reiterated its “outperform” rating with a $400.00 price target. Credit Suisse Group also raised its price target on the stock to $395.00 and gave it an “outperform” rating. StockNews.com started coverage on Paycom Software with a “hold” rating. On the other hand, TheStreet downgraded the stock from a “b-” rating to a “c+” rating. In total, one analyst gave the stock a sell rating, four gave it a hold rating, and eleven gave it a buy rating. The average target price for Paycom Software is $384.53.
Paycom Software Stock Performance and Earnings
Paycom Software, Inc. opened at $260.00 on the stock market. The company has a debt-to-equity ratio of 0.02 and a current ratio of 1.24. Its 52-week low is $252.12 and its 52-week high is $374.04. The stock has a fifty-day moving average of $292.16 and a two-hundred-day moving average of $298.01. With a market capitalization of $15.72 billion, the company has a price-to-earnings-growth ratio of 1.79 and a beta of 1.44.
Paycom Software reported $1.01 earnings per share for the last quarter, which missed analysts’ consensus estimates of $1.23 by $0.22. The company had a return on equity of 24.93% and a net margin of 20.28%. Its revenue for the quarter was $401.14 million, compared to analyst estimates of $398.20 million. Analysts expect Paycom Software to have a 6.1 EPS for the current year.
Paycom Software Announces Quarterly Dividend
The company also recently declared a quarterly dividend, paying shareholders a dividend of $0.375 per share. The ex-dividend date was on August 25th. This represents an annualized dividend of $1.50 and a yield of 0.58%. Paycom Software’s dividend payout ratio is currently 27.52%.
Insiders Selling Paycom Software Stock
In other news, EVP Christopher Gene Thomas sold 320 shares of Paycom Software stock at an average price of $290.05. The executive vice president now owns 26,154 shares in the company, valued at $7,585,967.70. Director Jason D. Clark also sold 130 shares of the company’s stock at an average price of $287.36. Following the sale, Clark owns 4,970 shares valued at $1,428,179.20. Currently, 14.50% of the stock is owned by insiders.
About Paycom Software
Paycom Software, Inc. is a provider of cloud-based human capital management solutions for small to mid-sized companies in the United States. The company offers a software-as-a-service solution that includes functionality and data analytics to manage the employment life cycle from recruitment to retirement.
Source: SEC Filing
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– SEC Filing