Insider Selling: Paycom Software, Inc. (PAYC) CFO Sells 11,000 Shares of Stock
Paycom Software, Inc. (NYSE:PAYC) CFO Craig E. Boelte sold 11,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $74.72, for a total value of $821,920.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Paycom Software, Inc. (PAYC) traded up 0.07% on Thursday, reaching $74.97. The company had a trading volume of 246,861 shares. Paycom Software, Inc. has a 52-week low of $39.15 and a 52-week high of $75.57. The stock has a market capitalization of $4.35 billion, a PE ratio of 81.31 and a beta of 1.75. The stock has a 50 day moving average price of $71.92 and a 200 day moving average price of $65.27.
Paycom Software (NYSE:PAYC) last released its earnings results on Tuesday, August 1st. The software maker reported $0.24 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.11. The firm had revenue of $98.20 million during the quarter, compared to analysts’ expectations of $95.98 million. Paycom Software had a net margin of 14.28% and a return on equity of 35.77%. Paycom Software’s revenue for the quarter was up 32.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.21 EPS. Analysts expect that Paycom Software, Inc. will post $1.15 EPS for the current year.
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PAYC has been the subject of several research reports. Credit Suisse Group reiterated a “buy” rating on shares of Paycom Software in a research note on Monday, July 3rd. BidaskClub cut Paycom Software from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 29th. Jefferies Group LLC restated a “buy” rating and set a $73.00 target price on shares of Paycom Software in a report on Thursday, June 8th. Canaccord Genuity boosted their target price on Paycom Software from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Tuesday, June 27th. Finally, Barclays PLC restated a “buy” rating and set a $74.00 target price on shares of Paycom Software in a report on Wednesday, July 19th. Four equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Paycom Software presently has an average rating of “Buy” and an average target price of $76.07.
Hedge funds have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Paycom Software by 10.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,835 shares of the software maker’s stock worth $126,000 after acquiring an additional 167 shares during the period. PNC Financial Services Group Inc. grew its stake in 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 worth $152,000 after acquiring an additional 150 shares during the period. Strs Ohio grew its stake in Paycom Software by 342.9% in the 1st quarter. Strs Ohio now owns 3,100 shares of the software maker’s stock worth $178,000 after acquiring an additional 2,400 shares during the period. Bfsg LLC purchased a new stake in Paycom Software in the 1st quarter worth approximately $203,000. Finally, Raymond James Trust N.A. purchased a new stake in Paycom Software in the 2nd quarter worth approximately $203,000. 86.05% of the stock is owned by hedge funds and other institutional investors.
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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