Summit Trail Advisors LLC Raises Stock Position in Paycom Software, Inc. (NYSE:PAYC)

Summit Trail Advisors LLC grew its stake in Paycom Software, Inc. (NYSE:PAYC) by 15.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,615 shares of the software maker’s stock after purchasing an additional 352 shares during the period. Summit Trail Advisors LLC’s holdings in Paycom Software were worth $536,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Armstrong Advisory Group Inc. purchased a new position in shares of Paycom Software during the third quarter worth about $26,000. Brooklyn Investment Group acquired a new stake in shares of Paycom Software in the 3rd quarter valued at about $28,000. Pin Oak Investment Advisors Inc. grew its stake in Paycom Software by 73.3% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 182 shares of the software maker’s stock worth $30,000 after buying an additional 77 shares during the last quarter. First Horizon Advisors Inc. increased its position in Paycom Software by 821.7% during the third quarter. First Horizon Advisors Inc. now owns 212 shares of the software maker’s stock worth $35,000 after buying an additional 189 shares during the period. Finally, Blue Trust Inc. lifted its stake in Paycom Software by 277.1% in the third quarter. Blue Trust Inc. now owns 264 shares of the software maker’s stock valued at $44,000 after buying an additional 194 shares during the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the stock. Piper Sandler upped their price target on shares of Paycom Software from $160.00 to $191.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. BMO Capital Markets lifted their price objective on shares of Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a research note on Thursday, October 31st. StockNews.com upgraded shares of Paycom Software from a “hold” rating to a “buy” rating in a research note on Friday, January 31st. Mizuho boosted their price target on Paycom Software from $190.00 to $210.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Finally, Jefferies Financial Group upped their price objective on Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a research note on Thursday, October 31st. Ten investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $204.75.

Paycom Software Price Performance

PAYC stock opened at $203.04 on Wednesday. The company’s 50 day simple moving average is $212.25 and its 200-day simple moving average is $190.99. Paycom Software, Inc. has a 12 month low of $139.50 and a 12 month high of $242.74. The firm has a market capitalization of $11.71 billion, a PE ratio of 24.43, a P/E/G ratio of 2.81 and a beta of 1.15.

Paycom Software Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 10th will be given a $0.375 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $1.50 annualized dividend and a dividend yield of 0.74%. Paycom Software’s dividend payout ratio is currently 18.05%.

Paycom Software 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.