Amalgamated Bank Raises Stake in Paycom Software, Inc. (NYSE:PAYC) - Defense World

Amalgamated Bank increased its holdings in Paycom Software, Inc. (NYSE:PAYC – Free Report) by 2.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 14,556 shares of the software maker’s stock after buying an additional 329 shares during the period. Amalgamated Bank’s holdings in Paycom Software were worth $3,009,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Hexagon Capital Partners LLC boosted its holdings in Paycom Software by 333.3% during the fourth quarter. Hexagon Capital Partners LLC now owns 130 shares of the software maker’s stock worth $27,000 after buying an additional 100 shares in the last quarter. Cary Street Partners Investment Advisory LLC grew its position in shares of Paycom Software by 83.5% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 156 shares of the software maker’s stock valued at $40,000 after acquiring an additional 71 shares during the period. Headlands Technologies LLC purchased a new position in shares of Paycom Software in the 3rd quarter valued at about $52,000. Operose Advisors LLC acquired a new position in Paycom Software in the 3rd quarter worth about $55,000. Finally, GAMMA Investing LLC purchased a new position in Paycom Software during the fourth quarter worth approximately $49,000. 87.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PAYC has been the subject of several research analyst reports. William Blair reaffirmed a “market perform” rating on shares of Paycom Software in a research note on Thursday, May 2nd. Mizuho decreased their price objective on shares of Paycom Software from $185.00 to $170.00 and set a “neutral” rating on the stock in a report on Monday, May 6th. Barclays cut their target price on shares of Paycom Software from $193.00 to $184.00 and set an “equal weight” rating for the company in a research note on Thursday, May 2nd. JPMorgan Chase & Co. raised their price target on shares of Paycom Software from $165.00 to $175.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. Finally, Citigroup cut their price objective on Paycom Software from $196.00 to $193.00 and set a “neutral” rating for the company in a research note on Thursday, May 2nd. Seventeen investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Paycom Software has an average rating of “Hold” and an average target price of $246.31.

Check Out Our Latest Report on Paycom Software

Paycom Software Price Performance

Paycom Software stock opened at $173.39 on Friday. The firm has a 50 day simple moving average of $188.47 and a 200-day simple moving average of $191.30. The stock has a market cap of $10.08 billion, a price-to-earnings ratio of 21.12, a price-to-earnings-growth ratio of 2.72 and a beta of 1.17. Paycom Software, Inc. has a 1-year low of $146.15 and a 1-year high of $374.04.

Paycom Software (NYSE:PAYC – Get Free Report) last issued its quarterly earnings data on Wednesday, February 7th. The software maker reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.78 by $0.15. Paycom Software had a return on equity of 32.84% and a net margin of 26.91%. The company had revenue of $434.60 million during the quarter, compared to analyst estimates of $422.50 million. During the same period in the prior year, the business posted $1.38 earnings per share. The firm’s revenue for the quarter was up 17.3% compared to the same quarter last year. Equities analysts expect that Paycom Software, Inc. will post 6.16 earnings per share for the current fiscal year.

Paycom Software Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Stockholders of record on Tuesday, May 28th will be issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend is Friday, May 24th. Paycom Software’s dividend payout ratio is presently 18.27%.

About Paycom Software

(Free Report)

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.