Stifel Financial Corp grew its stake in shares of Paycom Software Inc (NYSE:PAYC) by 42.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 12,630 shares of the software maker’s stock after purchasing an additional 3,748 shares during the quarter. Stifel Financial Corp’s holdings in Paycom Software were worth $946,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its position in Paycom Software by 96.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,172,756 shares of the software maker’s stock valued at $87,664,000 after buying an additional 574,658 shares during the last quarter. Capital World Investors grew its position in Paycom Software by 6.7% in the 2nd quarter. Capital World Investors now owns 6,612,914 shares of the software maker’s stock valued at $452,389,000 after buying an additional 415,000 shares during the last quarter. BlackRock Inc. grew its position in Paycom Software by 12.7% in the 2nd quarter. BlackRock Inc. now owns 3,001,044 shares of the software maker’s stock valued at $205,302,000 after buying an additional 338,351 shares during the last quarter. New York State Common Retirement Fund grew its position in Paycom Software by 60.3% in the 2nd quarter. New York State Common Retirement Fund now owns 748,858 shares of the software maker’s stock valued at $51,229,000 after buying an additional 281,778 shares during the last quarter. Finally, Koch Industries Inc. purchased a new position in Paycom Software in the 2nd quarter valued at $271,000. 88.41% of the stock is currently owned by institutional investors.
Paycom Software Inc (PAYC) opened at $84.50 on Friday. Paycom Software Inc has a one year low of $42.52 and a one year high of $86.10. The firm has a market cap of $5,000.00, a PE ratio of 79.72, a P/E/G ratio of 2.71 and a beta of 1.67. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.21.
Paycom Software (NYSE:PAYC) last posted its quarterly earnings data on Tuesday, October 31st. The software maker reported $0.29 EPS for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.10. Paycom Software had a net margin of 15.37% and a return on equity of 44.27%. The company had revenue of $101.30 million during the quarter, compared to the consensus estimate of $100.47 million. During the same quarter in the prior year, the company posted $0.15 EPS. The company’s quarterly revenue was up 31.0% compared to the same quarter last year. equities analysts expect that Paycom Software Inc will post 0.82 earnings per share for the current fiscal year.
In other news, CFO Craig E. Boelte sold 11,000 shares of the business’s stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $78.92, for a total transaction of $868,120.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jeffrey D. York sold 50,000 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $79.97, for a total value of $3,998,500.00. The disclosure for this sale can be found here. Corporate insiders own 17.90% of the company’s stock.
A number of research firms recently weighed in on PAYC. Robert W. Baird reiterated a “buy” rating and issued a $82.00 price objective on shares of Paycom Software in a research report on Wednesday, November 1st. JPMorgan Chase & Co. lifted their price objective on shares of Paycom Software from $67.00 to $75.00 and gave the company a “neutral” rating in a research report on Wednesday, November 1st. Oppenheimer restated a “buy” rating and set a $88.00 target price (up from $75.00) on shares of Paycom Software in a research report on Wednesday, November 1st. Stifel Nicolaus restated a “buy” rating and set a $85.00 target price on shares of Paycom Software in a research report on Friday, November 3rd. Finally, KeyCorp restated a “hold” rating on shares of Paycom Software in a research report on Friday, October 6th. Six equities research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $83.44.
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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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