JPMorgan Chase & Co. Purchases 32,868 Shares of Paycom Software, Inc. $PAYC

JPMorgan Chase & Co. increased its position in shares of Paycom Software, Inc. (NYSE:PAYC) by 9.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 375,019 shares of the software maker’s stock after purchasing an additional 32,868 shares during the period. JPMorgan Chase & Co. owned approximately 0.67% of Paycom Software worth $78,056,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Caitlin John LLC acquired a new position in Paycom Software in the 3rd quarter valued at $29,000. CYBER HORNET ETFs LLC acquired a new stake in shares of Paycom Software during the second quarter worth $29,000. Steigerwald Gordon & Koch Inc. bought a new stake in shares of Paycom Software in the third quarter valued at about $31,000. MUFG Securities EMEA plc bought a new stake in shares of Paycom Software in the second quarter valued at about $33,000. Finally, Palisade Asset Management LLC acquired a new position in shares of Paycom Software in the third quarter valued at about $33,000. 87.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on PAYC shares. Mizuho lowered their price target on shares of Paycom Software from $180.00 to $120.00 and set a “neutral” rating on the stock in a research report on Thursday, February 12th. Guggenheim cut their price objective on shares of Paycom Software from $210.00 to $180.00 and set a “buy” rating for the company in a report on Thursday, February 12th. KeyCorp lowered their target price on shares of Paycom Software from $250.00 to $195.00 and set an “overweight” rating on the stock in a report on Thursday, February 12th. Citigroup dropped their price target on shares of Paycom Software from $185.00 to $128.00 and set a “neutral” rating for the company in a research report on Friday, February 13th. Finally, Jefferies Financial Group cut their price target on Paycom Software from $190.00 to $130.00 and set a “hold” rating for the company in a research note on Thursday, February 12th. Five equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $170.71.

Paycom Software Price Performance

Shares of PAYC opened at $124.54 on Thursday. The firm has a 50 day simple moving average of $134.42 and a two-hundred day simple moving average of $167.76. Paycom Software, Inc. has a one year low of $104.90 and a one year high of $267.76. The company has a market cap of $6.76 billion, a P/E ratio of 15.39, a P/E/G ratio of 1.33 and a beta of 0.80.

Paycom Software (NYSE:PAYC) last issued its quarterly earnings results on Wednesday, February 11th. The software maker reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.44 by $0.01. Paycom Software had a return on equity of 24.25% and a net margin of 22.10%.The company had revenue of $544.30 million for the quarter, compared to analyst estimates of $542.79 million. During the same quarter last year, the company posted $2.32 EPS. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, analysts expect that Paycom Software, Inc. will post 7.15 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 23rd. Shareholders of record on Monday, March 9th will be given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Monday, March 9th. Paycom Software’s payout ratio is currently 18.54%.

About Paycom Software

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.