Sei Investments Co. cut its position in shares of Paycom Software, Inc. (NYSE:PAYC) by 8.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 45,318 shares of the software maker’s stock after selling 4,157 shares during the quarter. Sei Investments Co.’s holdings in Paycom Software were worth $20,497,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. lifted its stake in shares of Paycom Software by 1.3% during the fourth quarter. BlackRock Inc. now owns 5,059,977 shares of the software maker’s stock valued at $2,288,377,000 after buying an additional 66,584 shares during the period. Jackson Square Partners LLC lifted its stake in shares of Paycom Software by 36.6% during the 3rd quarter. Jackson Square Partners LLC now owns 1,287,379 shares of the software maker’s stock worth $400,761,000 after purchasing an additional 345,217 shares during the period. Allianz Asset Management GmbH boosted its holdings in shares of Paycom Software by 108.8% during the third quarter. Allianz Asset Management GmbH now owns 735,531 shares of the software maker’s stock worth $228,971,000 after purchasing an additional 383,268 shares during the last quarter. Congress Asset Management Co. MA grew its position in shares of Paycom Software by 0.6% in the third quarter. Congress Asset Management Co. MA now owns 595,990 shares of the software maker’s stock valued at $185,532,000 after purchasing an additional 3,434 shares during the period. Finally, Riverbridge Partners LLC grew its position in shares of Paycom Software by 4.2% in the fourth quarter. Riverbridge Partners LLC now owns 409,514 shares of the software maker’s stock valued at $185,203,000 after purchasing an additional 16,659 shares during the period. Institutional investors and hedge funds own 74.20% of the company’s stock.
PAYC has been the topic of a number of research analyst reports. Piper Sandler raised their price target on Paycom Software from $403.00 to $441.00 and gave the stock an “overweight” rating in a research note on Thursday, November 5th. Needham & Company LLC raised their target price on shares of Paycom Software from $455.00 to $490.00 and gave the stock a “buy” rating in a research report on Thursday, February 11th. Cowen upped their price target on shares of Paycom Software from $437.00 to $475.00 and gave the stock an “outperform” rating in a research report on Thursday, February 11th. JPMorgan Chase & Co. raised shares of Paycom Software from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $200.00 to $310.00 in a research note on Tuesday, November 3rd. Finally, Mizuho boosted their price objective on shares of Paycom Software from $330.00 to $400.00 and gave the company a “neutral” rating in a research note on Wednesday, December 16th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $402.67.
In other news, CFO Craig E. Boelte sold 8,000 shares of Paycom Software stock in a transaction that occurred on Friday, January 15th. The shares were sold at an average price of $406.41, for a total value of $3,251,280.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Frederick C. Peters II sold 5,000 shares of the business’s stock in a transaction on Monday, December 7th. The stock was sold at an average price of $434.91, for a total transaction of $2,174,550.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,000 shares of company stock worth $5,856,520. Corporate insiders own 16.10% of the company’s stock.
NYSE PAYC opened at $380.74 on Tuesday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $22.28 billion, a PE ratio of 135.01, a price-to-earnings-growth ratio of 4.93 and a beta of 1.49. Paycom Software, Inc. has a 12-month low of $163.42 and a 12-month high of $471.08. The company has a 50 day moving average price of $411.08 and a two-hundred day moving average price of $371.13.
Paycom Software (NYSE:PAYC) last released its quarterly earnings results on Wednesday, February 10th. The software maker reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.05. The business had revenue of $220.95 million for the quarter, compared to the consensus estimate of $213.57 million. Paycom Software had a net margin of 20.21% and a return on equity of 26.72%. Paycom Software’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.86 EPS. As a group, equities analysts anticipate that Paycom Software, Inc. will post 2.5 EPS for the current year.
Paycom Software Company 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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