BlackRock Inc. reduced its holdings in Paycom Software Inc (NYSE:PAYC) by 0.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,126,924 shares of the software maker’s stock after selling 1,558 shares during the quarter. BlackRock Inc. owned approximately 5.41% of Paycom Software worth $251,186,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its stake in Paycom Software by 96.1% during the third quarter. JPMorgan Chase & Co. now owns 1,172,756 shares of the software maker’s stock worth $87,664,000 after acquiring an additional 574,658 shares during the last quarter. Pembroke Management LTD increased its stake in Paycom Software by 48.4% during the third quarter. Pembroke Management LTD now owns 252,600 shares of the software maker’s stock worth $18,935,000 after acquiring an additional 82,400 shares during the last quarter. Axiom International Investors LLC DE acquired a new stake in Paycom Software during the third quarter worth about $4,969,000. Macquarie Group Ltd. increased its stake in Paycom Software by 12.5% during the third quarter. Macquarie Group Ltd. now owns 514,859 shares of the software maker’s stock worth $38,594,000 after acquiring an additional 57,353 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC increased its stake in Paycom Software by 8.1% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 668,725 shares of the software maker’s stock worth $50,128,000 after acquiring an additional 50,025 shares during the last quarter. Hedge funds and other institutional investors own 87.73% of the company’s stock.
Several equities research analysts have commented on PAYC shares. KeyCorp restated a “buy” rating and set a $105.00 price target on shares of Paycom Software in a research note on Monday, February 12th. Bank of America upped their price target on Paycom Software from $92.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. Stifel Nicolaus upped their price target on Paycom Software from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. Northland Securities set a $101.00 price target on Paycom Software and gave the stock a “buy” rating in a research note on Thursday, January 11th. Finally, Zacks Investment Research lowered Paycom Software from a “buy” rating to a “hold” rating in a research note on Tuesday, January 2nd. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $88.56.
Shares of Paycom Software Inc (PAYC) opened at $110.20 on Tuesday. Paycom Software Inc has a 1 year low of $53.70 and a 1 year high of $111.34. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $6,520.00, a PE ratio of 97.52, a PEG ratio of 2.31 and a beta of 1.55.
Paycom Software (NYSE:PAYC) last issued its quarterly earnings results on Tuesday, February 6th. The software maker reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.05. The firm had revenue of $114.00 million during the quarter, compared to the consensus estimate of $113.01 million. Paycom Software had a return on equity of 46.27% and a net margin of 15.43%. Paycom Software’s revenue for the quarter was up 29.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.18 earnings per share. research analysts expect that Paycom Software Inc will post 1.85 EPS for the current fiscal year.
Paycom Software declared that its Board of Directors has approved a share repurchase plan on Tuesday, February 13th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the software maker to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its stock is undervalued.
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Paycom Software Profile
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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