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

Summit Trail Advisors LLC increased its holdings in Paycom Software, Inc. (NYSE:PAYC) by 15.6% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 2,615 shares of the software maker’s stock after acquiring an additional 352 shares during the period. Summit Trail Advisors LLC’s holdings in Paycom Software were worth $536,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in PAYC. Equitable Trust Co. grew its holdings in shares of Paycom Software by 6.0% during the 4th quarter. Equitable Trust Co. now owns 4,644 shares of the software maker’s stock worth $952,000 after purchasing an additional 263 shares during the period. Angeles Wealth Management LLC acquired a new position in Paycom Software in the fourth quarter valued at about $269,000. Stephens Inc. AR boosted its stake in Paycom Software by 3.2% during the fourth quarter. Stephens Inc. AR now owns 8,712 shares of the software maker’s stock worth $1,786,000 after buying an additional 271 shares during the period. Empowered Funds LLC increased its position in shares of Paycom Software by 156.9% during the fourth quarter. Empowered Funds LLC now owns 6,478 shares of the software maker’s stock valued at $1,328,000 after acquiring an additional 3,956 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Paycom Software by 38.1% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 6,516 shares of the software maker’s stock valued at $1,336,000 after acquiring an additional 1,797 shares during the period. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on PAYC shares. Citigroup lowered their price objective on shares of Paycom Software from $234.00 to $221.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. StockNews.com upgraded Paycom Software from a “hold” rating to a “buy” rating in a research report on Friday, January 31st. BMO Capital Markets boosted their price objective on Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a report on Thursday, October 31st. Jefferies Financial Group increased their target price on Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. Finally, TD Cowen lifted their target price on Paycom Software from $193.00 to $248.00 and gave the company a “hold” rating in a research report on Monday, December 9th. Ten equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Paycom Software has a consensus rating of “Hold” and a consensus target price of $204.75.

Paycom Software Stock Performance

PAYC stock opened at $203.04 on Wednesday. The company’s 50 day moving average price is $212.25 and its 200 day moving average price is $190.99. The firm has a market capitalization of $11.71 billion, a price-to-earnings ratio of 24.43, a PEG ratio of 2.81 and a beta of 1.15. Paycom Software, Inc. has a fifty-two week low of $139.50 and a fifty-two week high of $242.74.

Paycom Software Announces Dividend

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