Canada Pension Plan Investment Board lifted its position in Paycom Software Inc (NYSE:PAYC) by 49.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 76,000 shares of the software maker’s stock after purchasing an additional 25,000 shares during the period. Canada Pension Plan Investment Board owned about 0.13% of Paycom Software worth $17,231,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in Paycom Software in the second quarter valued at approximately $43,511,000. First Trust Advisors LP lifted its position in shares of Paycom Software by 29.1% during the 2nd quarter. First Trust Advisors LP now owns 383,463 shares of the software maker’s stock valued at $86,939,000 after buying an additional 86,364 shares in the last quarter. Catalyst Capital Advisors LLC grew its stake in Paycom Software by 3,638.6% in the 2nd quarter. Catalyst Capital Advisors LLC now owns 85,502 shares of the software maker’s stock valued at $19,385,000 after acquiring an additional 83,215 shares during the period. Cookson Peirce & Co. Inc. grew its stake in Paycom Software by 109.9% in the 2nd quarter. Cookson Peirce & Co. Inc. now owns 150,423 shares of the software maker’s stock valued at $34,104,000 after acquiring an additional 78,769 shares during the period. Finally, Wells Fargo & Company MN increased its holdings in Paycom Software by 34.5% in the 2nd quarter. Wells Fargo & Company MN now owns 297,793 shares of the software maker’s stock worth $67,516,000 after acquiring an additional 76,313 shares in the last quarter. Hedge funds and other institutional investors own 72.73% of the company’s stock.
Several equities analysts have issued reports on PAYC shares. Bank of America reaffirmed a “neutral” rating and set a $250.00 price objective (up from $215.00) on shares of Paycom Software in a report on Wednesday, July 31st. Jefferies Financial Group downgraded shares of Paycom Software from a “buy” rating to a “hold” rating and set a $233.00 price target for the company. in a research report on Friday, July 19th. ValuEngine lowered shares of Paycom Software from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 1st. Northland Securities raised their price target on shares of Paycom Software from $215.00 to $275.00 and gave the company an “outperform” rating in a research note on Tuesday, July 9th. Finally, Cantor Fitzgerald initiated coverage on Paycom Software in a report on Tuesday, June 18th. They issued a “neutral” rating on the stock. Nine investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $226.79.
PAYC stock opened at $211.32 on Wednesday. The company has a market cap of $13.36 billion, a price-to-earnings ratio of 96.94, a PEG ratio of 3.09 and a beta of 1.45. 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 Inc has a 12 month low of $107.46 and a 12 month high of $259.71. The firm has a 50-day moving average of $241.23 and a two-hundred day moving average of $213.81.
Paycom Software (NYSE:PAYC) last issued its earnings results on Tuesday, July 30th. The software maker reported $0.75 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.14. The business had revenue of $169.30 million for the quarter, compared to analysts’ expectations of $163.88 million. Paycom Software had a return on equity of 38.25% and a net margin of 23.93%. The business’s revenue for the quarter was up 31.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.59 EPS. As a group, equities analysts forecast that Paycom Software Inc will post 2.74 earnings per share for the current year.
In other news, insider Jeffrey D. York sold 25,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $232.84, for a total value of $5,821,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Jon Evans sold 2,100 shares of the stock in a transaction that occurred on Tuesday, July 9th. The shares were sold at an average price of $240.47, for a total transaction of $504,987.00. The disclosure for this sale can be found here. Company 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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