Public Employees Retirement Association of Colorado cut its holdings in Paycom Software Inc (NYSE:PAYC) by 1.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 90,032 shares of the software maker’s stock after selling 1,190 shares during the quarter. Public Employees Retirement Association of Colorado owned approximately 0.15% of Paycom Software worth $20,412,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also bought and sold shares of PAYC. Legal & General Group Plc increased its position in shares of Paycom Software by 7.6% during the 4th quarter. Legal & General Group Plc now owns 25,130 shares of the software maker’s stock worth $3,077,000 after purchasing an additional 1,771 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Paycom Software by 5.2% during the 4th quarter. Geode Capital Management LLC now owns 505,767 shares of the software maker’s stock worth $61,930,000 after acquiring an additional 24,903 shares during the period. Ropes Wealth Advisors LLC bought a new position in shares of Paycom Software during the 1st quarter worth approximately $76,000. Pennsylvania Trust Co bought a new position in shares of Paycom Software during the 1st quarter worth approximately $855,000. Finally, Nwam LLC bought a new position in shares of Paycom Software during the 1st quarter worth approximately $303,000. 75.17% of the stock is currently owned by institutional investors.
Several research analysts have recently commented on PAYC shares. Bank of America reiterated a “neutral” rating and set a $250.00 target price (up from $215.00) on shares of Paycom Software in a research note on Wednesday, July 31st. Credit Suisse Group lifted their target price on Paycom Software from $190.00 to $235.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. They noted that the move was a valuation call. Zacks Investment Research downgraded Paycom Software from a “buy” rating to a “hold” rating in a research note on Monday, May 6th. KeyCorp lifted their target price on Paycom Software from $246.00 to $275.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. Finally, Barclays lifted their target price on Paycom Software from $175.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 1st. Ten analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $216.29.
PAYC traded down $7.40 during trading on Wednesday, hitting $231.55. The stock had a trading volume of 178,499 shares, compared to its average volume of 672,079. The stock has a 50 day simple moving average of $235.32. The company has a market capitalization of $14.23 billion, a price-to-earnings ratio of 106.22, a price-to-earnings-growth ratio of 3.25 and a beta of 1.59. Paycom Software Inc has a one year low of $107.46 and a one year high of $246.85. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.07.
Paycom Software (NYSE:PAYC) last released its quarterly earnings results on Tuesday, July 30th. The software maker reported $0.75 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.14. The business had revenue of $169.30 million during the quarter, compared to the consensus estimate of $163.88 million. Paycom Software had a return on equity of 38.25% and a net margin of 23.93%. The firm’s quarterly revenue was up 31.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.59 EPS. As a group, sell-side analysts expect that Paycom Software Inc will post 2.74 EPS for the current fiscal year.
In other Paycom Software news, COO Jon Evans sold 2,100 shares of Paycom Software stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $240.47, for a total value of $504,987.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Bradley Scott Smith sold 2,600 shares of Paycom Software stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $200.95, for a total value of $522,470.00. The disclosure for this sale can be found here. Insiders own 16.09% of the company’s stock.
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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