Chicago Equity Partners LLC increased its position in Paycom Software, Inc. (NYSE:PAYC) by 211.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,785 shares of the software maker’s stock after acquiring an additional 16,815 shares during the quarter. Chicago Equity Partners LLC’s holdings in Paycom Software were worth $1,858,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in PAYC. Capital World Investors boosted its stake in Paycom Software by 6.7% in the 2nd quarter. Capital World Investors now owns 6,612,914 shares of the software maker’s stock worth $452,389,000 after purchasing an additional 415,000 shares during the period. Vanguard Group Inc. boosted its stake in Paycom Software by 6.8% in the 2nd quarter. Vanguard Group Inc. now owns 3,727,860 shares of the software maker’s stock worth $255,023,000 after purchasing an additional 236,334 shares during the period. BlackRock Inc. boosted its stake in Paycom Software by 12.7% in the 2nd quarter. BlackRock Inc. now owns 3,001,044 shares of the software maker’s stock worth $205,302,000 after purchasing an additional 338,351 shares during the period. State Street Corp boosted its stake in Paycom Software by 14.0% in the 2nd quarter. State Street Corp now owns 911,240 shares of the software maker’s stock worth $62,337,000 after purchasing an additional 112,148 shares during the period. Finally, New York State Common Retirement Fund boosted its stake in Paycom Software by 60.3% in the 2nd quarter. New York State Common Retirement Fund now owns 748,858 shares of the software maker’s stock worth $51,229,000 after purchasing an additional 281,778 shares during the period. 88.35% of the stock is owned by institutional investors.
In related news, insider Stacey M. Pezold sold 10,000 shares of Paycom Software stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $75.02, for a total transaction of $750,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeffrey D. York sold 40,000 shares of Paycom Software stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $74.81, for a total value of $2,992,400.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 61,000 shares of company stock worth $4,564,520. 17.90% of the stock is owned by corporate insiders.
Several research firms have weighed in on PAYC. KeyCorp restated a “hold” rating on shares of Paycom Software in a research note on Wednesday, November 1st. Northland Securities set a $85.00 target price on Paycom Software and gave the company a “buy” rating in a research report on Wednesday, November 1st. Jefferies Group LLC raised their price target on Paycom Software from $85.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, November 1st. Credit Suisse Group lowered Paycom Software from an “outperform” rating to a “neutral” rating and set a $78.00 target price on the stock. in a research note on Wednesday, November 1st. Finally, Robert W. Baird reiterated a “buy” rating and issued a $82.00 target price on shares of Paycom Software in a research note on Wednesday, November 1st. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $83.44.
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Shares of Paycom Software, Inc. (NYSE:PAYC) opened at $78.90 on Monday. Paycom Software, Inc. has a 12-month low of $39.19 and a 12-month high of $83.11. The firm has a market capitalization of $4,597.04, a PE ratio of 73.74, a P/E/G ratio of 3.26 and a beta of 1.73. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.05 and a current ratio of 1.05.
Paycom Software (NYSE:PAYC) last issued its quarterly earnings data on Tuesday, October 31st. The software maker reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.10. Paycom Software had a return on equity of 44.27% and a net margin of 15.37%. The company had revenue of $101.30 million for the quarter, compared to the consensus estimate of $100.47 million. During the same quarter last year, the company earned $0.15 earnings per share. The firm’s revenue for the quarter was up 31.0% compared to the same quarter last year. equities analysts expect that Paycom Software, Inc. will post 0.82 EPS for the current year.
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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