The Manufacturers Life Insurance Company boosted its stake in Paycom Software, Inc. (NYSE:PAYC) by 583.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 233,870 shares of the software maker’s stock after buying an additional 199,673 shares during the period. The Manufacturers Life Insurance Company owned 0.40% of Paycom Software worth $15,999,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Paycom Software by 10.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,835 shares of the software maker’s stock valued at $126,000 after purchasing an additional 167 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of Paycom Software by 7.2% during the second quarter. PNC Financial Services Group Inc. now owns 2,220 shares of the software maker’s stock valued at $152,000 after purchasing an additional 150 shares during the period. Raymond James Trust N.A. bought a new position in Paycom Software during the second quarter valued at about $203,000. Fiduciary Trust Co. bought a new position in Paycom Software during the second quarter valued at about $215,000. Finally, Bfsg LLC bought a new position in Paycom Software during the first quarter valued at about $203,000. 86.09% of the stock is currently owned by hedge funds and other institutional investors.
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Several brokerages recently weighed in on PAYC. Royal Bank Of Canada reaffirmed a “hold” rating and set a $74.00 target price on shares of Paycom Software in a research note on Wednesday, October 18th. Mizuho reaffirmed a “hold” rating and set a $70.00 target price on shares of Paycom Software in a research note on Thursday, October 12th. KeyCorp reaffirmed a “hold” rating on shares of Paycom Software in a research note on Friday, October 6th. Northland Securities began coverage on Paycom Software in a research note on Thursday, September 21st. They set an “outperform” rating and a $85.00 target price for the company. Finally, Barclays PLC increased their price target on Paycom Software from $74.00 to $82.00 and gave the company an “overweight” rating in a research report on Wednesday, September 13th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Paycom Software currently has an average rating of “Buy” and a consensus target price of $76.63.
Shares of Paycom Software, Inc. (NYSE:PAYC) traded up 1.27% during midday trading on Friday, reaching $82.01. The company’s stock had a trading volume of 436,532 shares. The company has a market cap of $4.75 billion, a price-to-earnings ratio of 88.95 and a beta of 1.72. The stock has a 50-day moving average of $76.48 and a 200 day moving average of $69.66. Paycom Software, Inc. has a 12 month low of $39.15 and a 12 month high of $82.52.
Paycom Software (NYSE:PAYC) last posted its quarterly earnings results on Tuesday, August 1st. The software maker reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.11. The company had revenue of $98.20 million for the quarter, compared to analysts’ expectations of $95.98 million. Paycom Software had a net margin of 14.28% and a return on equity of 35.77%. Paycom Software’s revenue was up 32.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.21 EPS. On average, analysts predict that Paycom Software, Inc. will post $1.15 earnings per share for the current fiscal year.
In other Paycom Software news, 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 transaction of $2,992,400.00. The disclosure for this sale can be found here. Insiders sold a total of 61,000 shares of company stock worth $4,564,520 in the last ninety days. 17.90% of the stock is currently owned by insiders.
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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