Cambridge Investment Research Advisors Inc. Grows Stake in Paycom Software Inc (NYSE:PAYC)

Cambridge Investment Research Advisors Inc. grew its stake in shares of Paycom Software Inc (NYSE:PAYC) by 42.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,415 shares of the software maker’s stock after acquiring an additional 3,393 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Paycom Software were worth $3,536,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. State of Tennessee Treasury Department bought a new position in Paycom Software in the 1st quarter worth about $2,330,000. Franklin Resources Inc. raised its holdings in Paycom Software by 39.6% in the first quarter. Franklin Resources Inc. now owns 142,035 shares of the software maker’s stock worth $28,693,000 after buying an additional 40,284 shares during the last quarter. New Mexico Educational Retirement Board bought a new position in shares of Paycom Software in the first quarter worth approximately $616,000. Invesco Ltd. lifted its stake in shares of Paycom Software by 76.7% in the first quarter. Invesco Ltd. now owns 600,395 shares of the software maker’s stock worth $121,285,000 after buying an additional 260,661 shares in the last quarter. Finally, Valeo Financial Advisors LLC grew its holdings in shares of Paycom Software by 3,748.1% during the second quarter. Valeo Financial Advisors LLC now owns 1,039 shares of the software maker’s stock valued at $322,000 after buying an additional 1,012 shares during the last quarter. 75.20% of the stock is owned by hedge funds and other institutional investors.

In other news, CEO Chad R. Richison sold 420,865 shares of the business’s stock in a transaction on Tuesday, May 19th. The shares were sold at an average price of $268.00, for a total value of $112,791,820.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Jon Evans sold 1,400 shares of the company’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $258.97, for a total transaction of $362,558.00. The disclosure for this sale can be found here. Insiders sold 447,942 shares of company stock worth $120,871,330 over the last 90 days. Company insiders own 16.10% of the company’s stock.

Shares of NYSE:PAYC opened at $284.37 on Friday. The stock has a 50 day moving average of $305.20 and a 200 day moving average of $274.43. The company has a market cap of $16.67 billion, a PE ratio of 84.63, a price-to-earnings-growth ratio of 4.49 and a beta of 1.55. Paycom Software Inc has a 12-month low of $163.42 and a 12-month high of $342.00. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.05.

Paycom Software (NYSE:PAYC) last released its earnings results on Tuesday, April 28th. The software maker reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.07. The company had revenue of $242.40 million for the quarter, compared to analysts’ expectations of $237.93 million. Paycom Software had a net margin of 25.17% and a return on equity of 37.04%. The firm’s revenue was up 21.3% compared to the same quarter last year. During the same quarter last year, the business earned $1.19 EPS. Equities research analysts predict that Paycom Software Inc will post 2.62 earnings per share for the current fiscal year.

Several equities analysts recently issued reports on PAYC shares. Piper Sandler assumed coverage on Paycom Software in a research report on Thursday, May 21st. They issued a “neutral” rating and a $281.00 price objective on the stock. Barclays boosted their price target on Paycom Software from $195.00 to $285.00 and gave the stock an “equal weight” rating in a research note on Monday, July 20th. Needham & Company LLC increased their price objective on Paycom Software from $250.00 to $265.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Royal Bank of Canada reduced their price objective on Paycom Software from $240.00 to $225.00 and set a “sector perform” rating for the company in a report on Wednesday, April 29th. Finally, JPMorgan Chase & Co. cut shares of Paycom Software from a “neutral” rating to an “underweight” rating and set a $200.00 target price on the stock. in a research note on Thursday, April 23rd. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $259.81.

Paycom Software Profile

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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Institutional Ownership by Quarter for Paycom Software (NYSE:PAYC)

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