Several other hedge funds and other institutional investors have also modified their holdings of PAYC. Vanguard Group Inc. raised its holdings in shares of Paycom Software by 2.2% in the third quarter. Vanguard Group Inc. now owns 4,348,359 shares of the software maker’s stock valued at $675,778,000 after purchasing an additional 93,152 shares during the last quarter. Vanguard Group Inc boosted its holdings in Paycom Software by 2.2% in the 3rd quarter. Vanguard Group Inc now owns 4,348,359 shares of the software maker’s stock valued at $675,778,000 after purchasing an additional 93,152 shares during the period. Capital International Investors bought a new stake in Paycom Software in the 3rd quarter valued at about $488,601,000. BlackRock Inc. lifted its holdings in shares of Paycom Software by 1.1% during the 4th quarter. BlackRock Inc. now owns 2,212,593 shares of the software maker’s stock worth $270,933,000 after acquiring an additional 23,876 shares during the period. Finally, Kayne Anderson Rudnick Investment Management LLC increased its position in Paycom Software by 72.6% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,964,610 shares of the software maker’s stock worth $240,566,000 after purchasing an additional 826,529 shares in the last quarter. Institutional investors and hedge funds own 77.84% of the company’s stock.
Advisor Group Inc. lifted its holdings in shares of Paycom Software Inc (NYSE:PAYC) by 6.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,353 shares of the software maker’s stock after buying an additional 593 shares during the period. Advisor Group Inc.’s holdings in Paycom Software were worth $1,267,000 at the end of the most recent reporting period.
A number of equities analysts recently issued reports on PAYC shares. Jefferies Financial Group upped their price objective on shares of Paycom Software to $210.00 and gave the stock a “buy” rating in a research report on Monday, March 4th. Bank of America upped their price target on shares of Paycom Software from $147.00 to $166.00 and gave the company a “neutral” rating in a research report on Wednesday, February 6th. Royal Bank of Canada upped their price target on shares of Paycom Software to $139.00 and gave the company a “market perform” rating in a research report on Monday, February 4th. They noted that the move was a valuation call. ValuEngine upgraded shares of Paycom Software from a “hold” rating to a “buy” rating in a research report on Saturday, January 19th. Finally, KeyCorp upped their price target on shares of Paycom Software from $133.00 to $182.00 and gave the company an “overweight” rating in a research report on Wednesday, February 6th. Nine investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Paycom Software presently has a consensus rating of “Hold” and a consensus target price of $150.87.
In related news, insider Jeffrey D. York sold 25,000 shares of the stock in a transaction on Wednesday, February 13th. The shares were sold at an average price of $173.96, for a total transaction of $4,349,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Craig E. Boelte sold 12,000 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $176.03, for a total transaction of $2,112,360.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 51,600 shares of company stock worth $8,478,698. Insiders own 16.24% of the company’s stock.
NYSE:PAYC opened at $181.03 on Thursday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.03 and a current ratio of 1.03. Paycom Software Inc has a 52 week low of $96.44 and a 52 week high of $186.00. The firm has a market capitalization of $10.68 billion, a PE ratio of 81.38, a PEG ratio of 2.78 and a beta of 1.83.
Paycom Software (NYSE:PAYC) last posted its quarterly earnings data on Tuesday, February 5th. The software maker reported $0.61 EPS for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.13. Paycom Software had a net margin of 24.20% and a return on equity of 38.83%. The company had revenue of $150.33 million for the quarter, compared to analyst estimates of $144.10 million. During the same period in the prior year, the firm posted $0.90 EPS. The company’s quarterly revenue was up 31.8% on a year-over-year basis. Equities research analysts forecast that Paycom Software Inc will post 2.62 earnings per share for the current year.
About Paycom Software
Paycom Software, Inc provides cloud-based human capital management (HCM) software service for small to mid-sized companies in the United States. It provides functionality and data analytics that businesses need to manage the employment life cycle from recruitment to retirement. The company's HCM solution offers a suite of applications in the areas of talent acquisition, including applicant tracking, candidate tracker, background checks, on-boarding, e-verify, and tax credit services; and time and labor management, such as time and attendance, scheduling/schedule exchange, time-off requests, labor allocation, labor management reports/push reporting, and geofencing/geotracking.
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