HBK Sorce Advisory LLC bought a new position in shares of Paycom Software Inc (NYSE:PAYC) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,614 shares of the software maker’s stock, valued at approximately $251,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Keybank National Association OH grew its stake in Paycom Software by 10.8% during the second quarter. Keybank National Association OH now owns 4,262 shares of the software maker’s stock worth $421,000 after purchasing an additional 414 shares during the period. Bank of Montreal Can grew its stake in Paycom Software by 3.3% during the third quarter. Bank of Montreal Can now owns 13,652 shares of the software maker’s stock worth $2,122,000 after purchasing an additional 442 shares during the period. Creative Planning grew its stake in Paycom Software by 5.8% during the third quarter. Creative Planning now owns 8,445 shares of the software maker’s stock worth $1,312,000 after purchasing an additional 461 shares during the period. Oppenheimer Asset Management Inc. grew its stake in Paycom Software by 1.2% during the third quarter. Oppenheimer Asset Management Inc. now owns 39,740 shares of the software maker’s stock worth $6,177,000 after purchasing an additional 468 shares during the period. Finally, Polen Capital Management LLC grew its stake in Paycom Software by 9.1% during the third quarter. Polen Capital Management LLC now owns 5,981 shares of the software maker’s stock worth $930,000 after purchasing an additional 498 shares during the period. 77.29% of the stock is owned by institutional investors and hedge funds.
In other news, insider Jeffrey D. York sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $152.53, for a total value of $7,626,500.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Bradley Scott Smith sold 5,200 shares of the firm’s stock in a transaction that occurred on Monday, September 24th. The shares were sold at an average price of $154.73, for a total value of $804,596.00. The disclosure for this sale can be found here. Insiders sold 57,200 shares of company stock worth $8,711,516 in the last 90 days. Corporate insiders own 16.24% of the company’s stock.
Shares of NYSE:PAYC opened at $130.62 on Friday. The company has a market capitalization of $7.66 billion, a price-to-earnings ratio of 67.68, a PEG ratio of 2.37 and a beta of 1.83. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.08 and a current ratio of 1.08. Paycom Software Inc has a 52-week low of $78.92 and a 52-week high of $164.08.
Paycom Software (NYSE:PAYC) last announced its quarterly earnings results on Tuesday, October 30th. The software maker reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.01. The business had revenue of $133.29 million for the quarter, compared to analyst estimates of $130.52 million. Paycom Software had a return on equity of 39.19% and a net margin of 22.37%. The company’s quarterly revenue was up 31.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.39 earnings per share. Equities research analysts anticipate that Paycom Software Inc will post 2.15 earnings per share for the current year.
Several equities research analysts recently commented on the company. Zacks Investment Research reaffirmed a “buy” rating and set a $141.00 target price on shares of Paycom Software in a research note on Wednesday, November 14th. ValuEngine upgraded Paycom Software from a “hold” rating to a “buy” rating in a report on Monday, November 26th. Credit Suisse Group increased their price target on Paycom Software from $110.00 to $125.00 and gave the stock a “neutral” rating in a report on Wednesday, October 31st. Needham & Company LLC increased their price target on Paycom Software to $150.00 and gave the stock a “buy” rating in a report on Wednesday, October 31st. Finally, Canaccord Genuity cut their price target on Paycom Software from $150.00 to $140.00 and set a “hold” rating on the stock in a report on Wednesday, October 31st. Nine research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $126.82.
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About Paycom Software
Paycom Software, Inc provides cloud-based human capital management (HCM) software service for small to mid-sized companies in the United States. It provides functionality and data analytics that businesses need to manage the employment life cycle from recruitment to retirement. The company's HCM solution offers a suite of applications in the areas of talent acquisition, including applicant tracking, candidate tracker, background checks, on-boarding, e-verify, and tax credit services; and time and labor management, such as time and attendance, scheduling/schedule exchange, time-off requests, labor allocation, labor management reports/push reporting, and geofencing/geotracking.
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