Alberta Investment Management Corp Has $4.99 Million Holdings in Paycom Software, Inc. (NYSE:PAYC)

Alberta Investment Management Corp grew its stake in Paycom Software, Inc. (NYSE:PAYC) by 24.1% in the fourth quarter, HoldingsChannel reports. The fund owned 24,320 shares of the software maker’s stock after acquiring an additional 4,720 shares during the period. Alberta Investment Management Corp’s holdings in Paycom Software were worth $4,985,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Private Trust Co. NA raised its stake in shares of Paycom Software by 11.2% in the third quarter. Private Trust Co. NA now owns 526 shares of the software maker’s stock worth $88,000 after acquiring an additional 53 shares during the last quarter. Wrapmanager Inc. raised its stake in shares of Paycom Software by 2.6% in the third quarter. Wrapmanager Inc. now owns 2,176 shares of the software maker’s stock worth $362,000 after acquiring an additional 56 shares during the last quarter. Andina Capital Management LLC raised its stake in shares of Paycom Software by 4.0% in the third quarter. Andina Capital Management LLC now owns 1,651 shares of the software maker’s stock worth $275,000 after acquiring an additional 63 shares during the last quarter. Michael S. Ryan Inc. raised its stake in shares of Paycom Software by 2.5% in the fourth quarter. Michael S. Ryan Inc. now owns 2,796 shares of the software maker’s stock worth $573,000 after acquiring an additional 68 shares during the last quarter. Finally, Valley National Advisers Inc. raised its stake in shares of Paycom Software by 0.7% in the fourth quarter. Valley National Advisers Inc. now owns 10,702 shares of the software maker’s stock worth $2,192,000 after acquiring an additional 72 shares during the last quarter. 87.77% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PAYC has been the subject of a number of research analyst reports. Jefferies Financial Group boosted their target price on shares of Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. Piper Sandler boosted their price target on shares of Paycom Software from $191.00 to $224.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. StockNews.com raised shares of Paycom Software from a “hold” rating to a “buy” rating in a research note on Friday, January 31st. JPMorgan Chase & Co. boosted their price target on shares of Paycom Software from $185.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Finally, Citigroup dropped their price target on shares of Paycom Software from $234.00 to $221.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Eleven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $209.22.

Paycom Software Stock Up 1.1 %

Paycom Software stock opened at $215.86 on Thursday. Paycom Software, Inc. has a twelve month low of $139.50 and a twelve month high of $242.74. The company has a 50 day moving average of $208.86 and a 200-day moving average of $193.01. The stock has a market capitalization of $12.45 billion, a PE ratio of 24.25, a price-to-earnings-growth ratio of 2.34 and a beta of 1.15.

Paycom Software (NYSE:PAYC) last announced its earnings results on Wednesday, February 12th. The software maker reported $2.02 EPS for the quarter, topping the consensus estimate of $1.99 by $0.03. Paycom Software had a net margin of 26.66% and a return on equity of 33.53%. Equities analysts anticipate that Paycom Software, Inc. will post 7.16 EPS for the current fiscal year.

Paycom Software Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Investors of record on Monday, March 10th will be issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend is Monday, March 10th. Paycom Software’s payout ratio is 16.85%.

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.