Federated Investors Inc. PA increased its position in shares of Paycom Software, Inc. (NYSE:PAYC) by 372.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 70,163 shares of the software maker’s stock after buying an additional 55,308 shares during the period. Federated Investors Inc. PA owned 0.12% of Paycom Software worth $4,800,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Columbus Circle Investors bought a new position in Paycom Software during the second quarter worth $2,661,000. State Board of Administration of Florida Retirement System raised its stake in Paycom Software by 26.8% during the second quarter. State Board of Administration of Florida Retirement System now owns 26,266 shares of the software maker’s stock worth $1,797,000 after buying an additional 5,551 shares during the last quarter. Blair William & Co. IL raised its stake in Paycom Software by 58.9% during the second quarter. Blair William & Co. IL now owns 7,150 shares of the software maker’s stock worth $489,000 after buying an additional 2,650 shares during the last quarter. Texas Yale Capital Corp. raised its stake in Paycom Software by 35.9% during the second quarter. Texas Yale Capital Corp. now owns 5,775 shares of the software maker’s stock worth $395,000 after buying an additional 1,525 shares during the last quarter. Finally, BNP Paribas Arbitrage SA raised its stake in Paycom Software by 573.9% during the second quarter. BNP Paribas Arbitrage SA now owns 6,186 shares of the software maker’s stock worth $423,000 after buying an additional 5,268 shares during the last quarter. 86.05% of the stock is owned by institutional investors and hedge funds.
Shares of Paycom Software, Inc. (NYSE PAYC) traded down 0.23% on Friday, hitting $74.79. 739,688 shares of the stock were exchanged. The company has a 50-day moving average price of $72.08 and a 200 day moving average price of $65.41. Paycom Software, Inc. has a 12 month low of $39.15 and a 12 month high of $75.57. The company has a market cap of $4.33 billion, a PE ratio of 81.12 and a beta of 1.75.
Paycom Software (NYSE:PAYC) last released its quarterly earnings data on Tuesday, August 1st. The software maker reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.11. The business had revenue of $98.20 million during the quarter, compared to analyst estimates 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 was up 32.9% compared to the same quarter last year. During the same period last year, the business earned $0.21 EPS. Equities analysts forecast that Paycom Software, Inc. will post $1.15 EPS for the current fiscal year.
In other news, CFO Craig E. Boelte sold 11,000 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $74.72, for a total transaction of $821,920.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Stacey M. Pezold sold 30,000 shares of the firm’s stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $70.15, for a total transaction of $2,104,500.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 91,000 shares of company stock worth $6,353,820. Insiders own 17.90% of the company’s stock.
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PAYC has been the subject of a number of analyst reports. KeyCorp lifted their target price on shares of Paycom Software to $94.00 in a research note on Wednesday, August 2nd. Credit Suisse Group reissued a “buy” rating on shares of Paycom Software in a research note on Monday, July 3rd. BidaskClub downgraded shares of Paycom Software from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 29th. Canaccord Genuity lifted their price target on shares of Paycom Software from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, June 27th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $73.00 price target on shares of Paycom Software in a research note on Thursday, June 8th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Paycom Software has a consensus rating of “Buy” and an average target price of $76.07.
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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