AIA Group Ltd Has $560,000 Stock Position in Paycom Software, Inc. (NYSE:PAYC)

AIA Group Ltd lifted its stake in Paycom Software, Inc. (NYSE:PAYC) by 9.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 2,708 shares of the software maker’s stock after buying an additional 223 shares during the period. AIA Group Ltd’s holdings in Paycom Software were worth $560,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Oak Family Advisors LLC acquired a new stake in shares of Paycom Software in the fourth quarter valued at about $2,994,000. Nordea Investment Management AB increased its position in Paycom Software by 8.8% during the third quarter. Nordea Investment Management AB now owns 261,428 shares of the software maker’s stock worth $68,912,000 after buying an additional 21,095 shares during the last quarter. US Bancorp DE increased its position in Paycom Software by 25.8% during the third quarter. US Bancorp DE now owns 91,950 shares of the software maker’s stock worth $23,840,000 after buying an additional 18,857 shares during the last quarter. Lecap Asset Management Ltd. acquired a new position in Paycom Software during the fourth quarter worth approximately $2,028,000. Finally, Barclays PLC increased its position in Paycom Software by 12.6% during the third quarter. Barclays PLC now owns 125,514 shares of the software maker’s stock worth $32,543,000 after buying an additional 14,053 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Analyst Upgrades and Downgrades

PAYC has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. boosted their price target on Paycom Software from $140.00 to $165.00 and gave the stock a “neutral” rating in a research report on Thursday, February 8th. Citigroup reduced their price objective on Paycom Software from $205.00 to $198.00 and set a “neutral” rating for the company in a report on Wednesday, January 31st. BTIG Research assumed coverage on Paycom Software in a report on Tuesday, February 6th. They set a “neutral” rating for the company. UBS Group boosted their price objective on Paycom Software from $235.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, January 10th. Finally, Piper Sandler boosted their price objective on Paycom Software from $185.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, February 8th. Seventeen investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Paycom Software presently has a consensus rating of “Hold” and a consensus price target of $257.18.

Paycom Software Price Performance

NYSE PAYC opened at $183.25 on Friday. The business has a fifty day moving average price of $190.12 and a two-hundred day moving average price of $200.33. Paycom Software, Inc. has a fifty-two week low of $146.15 and a fifty-two week high of $374.04. The stock has a market capitalization of $10.55 billion, a PE ratio of 31.06, a PEG ratio of 3.15 and a beta of 1.17.

Paycom Software (NYSE:PAYC) last released its earnings results 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 24.60% and a net margin of 20.12%. The firm had revenue of $434.60 million during the quarter, compared to analysts’ expectations of $422.50 million. During the same period in the prior year, the company earned $1.38 earnings per share. The company’s quarterly revenue was up 17.3% on a year-over-year basis. As a group, sell-side analysts expect that Paycom Software, Inc. will post 5.73 earnings per share for the current year.

Paycom Software Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 18th. Stockholders of record on Monday, March 4th were issued a dividend of $0.375 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $1.50 annualized dividend and a dividend yield of 0.82%. Paycom Software’s dividend payout ratio (DPR) is presently 25.42%.

About Paycom Software

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.