Victory Capital Management Inc. decreased its position in Paycom Software, Inc. (NYSE:PAYC) by 11.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 375,409 shares of the software maker’s stock after selling 47,005 shares during the period. Victory Capital Management Inc. owned approximately 0.65% of Paycom Software worth $28,141,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently modified their holdings of the stock. Alps Advisors Inc. grew its position in Paycom Software by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 8,542 shares of the software maker’s stock worth $584,000 after purchasing an additional 22 shares during the period. Renaissance Group LLC grew its position in shares of Paycom Software by 0.7% during the 2nd quarter. Renaissance Group LLC now owns 6,156 shares of the software maker’s stock valued at $421,000 after acquiring an additional 42 shares during the period. 1st Global Advisors Inc. boosted its holdings in Paycom Software by 1.4% in the 2nd quarter. 1st Global Advisors Inc. now owns 5,567 shares of the software maker’s stock worth $381,000 after buying an additional 75 shares during the last quarter. Suntrust Banks Inc. boosted its holdings in Paycom Software by 0.6% in the 2nd quarter. Suntrust Banks Inc. now owns 14,130 shares of the software maker’s stock worth $966,000 after buying an additional 91 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in Paycom Software by 7.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 2,220 shares of the software maker’s stock worth $152,000 after buying an additional 150 shares during the last quarter. Institutional investors own 86.36% of the company’s stock.
PAYC has been the topic of a number of research reports. Bank of America Corporation initiated coverage on shares of Paycom Software in a research note on Monday. They issued a “buy” rating and a $92.00 target price on the stock. Stifel Nicolaus reaffirmed a “buy” rating and set a $85.00 price target on shares of Paycom Software in a research report on Friday, November 3rd. Zacks Investment Research raised shares of Paycom Software from a “hold” rating to a “buy” rating and set a $87.00 price target on the stock in a research report on Friday, November 3rd. Barclays PLC lifted their price target on shares of Paycom Software from $82.00 to $87.00 and gave the company an “overweight” rating in a research report on Wednesday, November 1st. Finally, Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and set a $88.00 price target (up previously from $75.00) on shares of Paycom Software in a research report on Wednesday, November 1st. Five investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Paycom Software has a consensus rating of “Buy” and a consensus price target of $83.44.
In related news, insider Jeffrey D. York sold 40,000 shares of the business’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $74.81, for a total value of $2,992,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stacey M. Pezold sold 10,000 shares of the business’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $75.02, for a total transaction of $750,200.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 61,000 shares of company stock valued at $4,564,520. Insiders own 17.90% of the company’s stock.
Paycom Software, Inc. (PAYC) opened at $78.48 on Friday. The company has a market cap of $4,626.75, a price-to-earnings ratio of 74.21, a price-to-earnings-growth ratio of 3.28 and a beta of 1.73. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.05 and a quick ratio of 1.05. Paycom Software, Inc. has a 12 month low of $39.15 and a 12 month high of $83.11.
Paycom Software (NYSE:PAYC) last posted its quarterly earnings results on Tuesday, October 31st. The software maker reported $0.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.10. The business had revenue of $101.30 million during the quarter, compared to the consensus estimate of $100.47 million. Paycom Software had a net margin of 15.37% and a return on equity of 44.27%. The company’s quarterly revenue was up 31.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.15 earnings per share. sell-side analysts forecast that Paycom Software, Inc. will post 0.82 EPS for the current year.
Paycom Software Profile
Paycom Software, Inc is a provider of a cloud-based human capital management (HCM) software solution delivered as Software-as-a-Service (SaaS). The Company provides functionality and data analytics that businesses need to manage the complete employment life cycle from recruitment to retirement. The Company’s applications streamline client processes and provide clients and their employees with the ability to directly access and manage administrative processes, including applications that identify candidates, on-board employees, manage time and labor, administer payroll deductions and benefits, manage performance, terminate employees and administer post-termination health benefits, such as COBRA.
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