Navellier & Associates Inc boosted its holdings in Paycom Software Inc (NYSE:PAYC) by 40.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,973 shares of the software maker’s stock after purchasing an additional 6,379 shares during the quarter. Navellier & Associates Inc’s holdings in Paycom Software were worth $1,765,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the business. PNC Financial Services Group Inc. raised its position in shares of 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 valued at $152,000 after buying an additional 150 shares in the last quarter. California Public Employees Retirement System raised its position in shares of Paycom Software by 2.1% in the 2nd quarter. California Public Employees Retirement System now owns 38,200 shares of the software maker’s stock valued at $2,613,000 after buying an additional 800 shares in the last quarter. Parametric Portfolio Associates LLC raised its position in shares of Paycom Software by 41.3% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 32,796 shares of the software maker’s stock valued at $2,244,000 after buying an additional 9,580 shares in the last quarter. Stifel Financial Corp raised its position in shares of Paycom Software by 3.8% in the 2nd quarter. Stifel Financial Corp now owns 8,882 shares of the software maker’s stock valued at $612,000 after buying an additional 328 shares in the last quarter. Finally, Royal Bank of Canada raised its position in shares of Paycom Software by 207.0% in the 2nd quarter. Royal Bank of Canada now owns 18,257 shares of the software maker’s stock valued at $1,248,000 after buying an additional 12,311 shares in the last quarter. Institutional investors and hedge funds own 89.38% of the company’s stock.
In other Paycom Software news, insider Jeffrey D. York sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $79.97, for a total transaction of $3,998,500.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert J. Levenson sold 18,750 shares of the business’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $88.89, for a total transaction of $1,666,687.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 79,750 shares of company stock valued at $6,533,308. 17.90% of the stock is owned by corporate insiders.
Paycom Software Inc (NYSE:PAYC) opened at $98.42 on Friday. The stock has a market cap of $5,690.00, a P/E ratio of 87.10, a P/E/G ratio of 2.01 and a beta of 1.70. Paycom Software Inc has a 12-month low of $53.00 and a 12-month high of $98.43. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.25.
Paycom Software (NYSE:PAYC) last released its quarterly earnings data on Tuesday, February 6th. The software maker reported $0.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.05. The business had revenue of $114.00 million during the quarter, compared to analysts’ expectations of $113.01 million. Paycom Software had a net margin of 15.43% and a return on equity of 46.27%. The firm’s quarterly revenue was up 29.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.18 EPS. analysts anticipate that Paycom Software Inc will post 1.85 earnings per share for the current year.
Paycom Software announced that its board has authorized a share buyback program on Tuesday, February 13th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the software maker to purchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
Several equities analysts have recently commented on the stock. Mizuho dropped their target price on shares of Paycom Software from $85.00 to $80.00 and set a “neutral” rating for the company in a research report on Wednesday, February 7th. KeyCorp restated a “hold” rating on shares of Paycom Software in a research report on Wednesday, November 1st. Jefferies Group boosted their target price on shares of Paycom Software from $85.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, November 1st. Northland Securities set a $85.00 target price on shares of Paycom Software and gave the company a “buy” rating in a research report on Wednesday, November 1st. Finally, Bank of America boosted their target price on shares of Paycom Software from $92.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $88.56.
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About Paycom Software
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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