Virtu KCG Holdings LLC bought a new stake in shares of Paycom Software, Inc. (NYSE:PAYC) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 4,927 shares of the software maker’s stock, valued at approximately $337,000.
A number of other large investors have also added to or reduced their stakes in PAYC. UBS Asset Management Americas Inc. grew its stake in shares of Paycom Software by 47.6% in the 1st quarter. UBS Asset Management Americas Inc. now owns 24,424 shares of the software maker’s stock valued at $1,405,000 after buying an additional 7,881 shares in the last quarter. Prudential Financial Inc. lifted its holdings in Paycom Software by 397.7% in the 1st quarter. Prudential Financial Inc. now owns 77,350 shares of the software maker’s stock worth $4,448,000 after purchasing an additional 61,810 shares during the last quarter. American International Group Inc. lifted its holdings in Paycom Software by 5.4% in the 1st quarter. American International Group Inc. now owns 26,676 shares of the software maker’s stock worth $1,534,000 after purchasing an additional 1,366 shares during the last quarter. Neuberger Berman Group LLC lifted its holdings in Paycom Software by 6.6% in the 1st quarter. Neuberger Berman Group LLC now owns 5,788 shares of the software maker’s stock worth $333,000 after purchasing an additional 357 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in Paycom Software by 2.0% in the 1st quarter. Principal Financial Group Inc. now owns 37,612 shares of the software maker’s stock worth $2,163,000 after purchasing an additional 744 shares during the last quarter. 86.09% of the stock is currently owned by institutional investors.
Paycom Software, Inc. (PAYC) opened at 80.98 on Friday. The firm has a market cap of $4.69 billion, a price-to-earnings ratio of 87.83 and a beta of 1.72. Paycom Software, Inc. has a 1-year low of $39.15 and a 1-year high of $81.21. The firm has a 50-day moving average price of $76.48 and a 200 day moving average price of $69.66.
Paycom Software (NYSE:PAYC) last released its quarterly earnings results on Tuesday, August 1st. The software maker reported $0.24 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.11. Paycom Software had a return on equity of 35.77% and a net margin of 14.28%. The business had revenue of $98.20 million for the quarter, compared to the consensus estimate of $95.98 million. During the same quarter last year, the business posted $0.21 earnings per share. The company’s revenue for the quarter was up 32.9% on a year-over-year basis. Equities analysts predict that Paycom Software, Inc. will post $1.15 earnings per share for the current year.
PAYC has been the subject of several analyst reports. Credit Suisse Group restated a “buy” rating on shares of Paycom Software in a report on Monday, July 3rd. BidaskClub lowered Paycom Software from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 29th. Barclays PLC upped their price target on Paycom Software from $74.00 to $82.00 and gave the stock an “overweight” rating in a report on Wednesday, September 13th. Robert W. Baird reiterated a “buy” rating and set a $78.00 price target on shares of Paycom Software in a report on Tuesday, September 12th. Finally, Northland Securities initiated coverage on Paycom Software in a research note on Thursday, September 21st. They issued an “outperform” rating and a $85.00 target price for the company. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $76.63.
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In other news, CFO Craig E. Boelte sold 11,000 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $74.72, for a total transaction of $821,920.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Stacey M. Pezold sold 10,000 shares of the firm’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $75.02, for a total value of $750,200.00. The disclosure for this sale can be found here. Insiders have sold 61,000 shares of company stock worth $4,564,520 over the last ninety days. Insiders own 17.90% of the company’s stock.
Paycom Software Company 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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