Bank of New York Mellon Corp cut its holdings in Paycom Software Inc (NYSE:PAYC) by 1.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 256,259 shares of the software maker’s stock after selling 3,296 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.44% of Paycom Software worth $20,585,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in the company. Polen Capital Management LLC purchased a new stake in shares of Paycom Software in the 4th quarter worth about $276,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its position in shares of Paycom Software by 0.8% in the 4th quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 701,813 shares of the software maker’s stock worth $56,377,000 after buying an additional 5,284 shares during the period. Advisory Research Inc. grew its position in shares of Paycom Software by 2.8% in the 4th quarter. Advisory Research Inc. now owns 26,613 shares of the software maker’s stock worth $2,138,000 after buying an additional 737 shares during the period. Cetera Advisors LLC purchased a new stake in Paycom Software during the 4th quarter valued at about $241,000. Finally, Mckinley Capital Management LLC Delaware grew its position in Paycom Software by 24.4% during the 4th quarter. Mckinley Capital Management LLC Delaware now owns 192,196 shares of the software maker’s stock valued at $15,439,000 after purchasing an additional 37,657 shares during the last quarter. 87.64% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Jeffrey D. York sold 50,000 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $79.97, for a total value of $3,998,500.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Robert J. Levenson sold 18,750 shares of the stock in a transaction that occurred on Wednesday, March 7th. The stock was sold at an average price of $107.11, for a total transaction of $2,008,312.50. The disclosure for this sale can be found here. Insiders have sold a total of 104,750 shares of company stock worth $9,388,528 in the last 90 days. Company insiders own 17.90% of the company’s stock.
Paycom Software stock opened at $113.01 on Thursday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market cap of $6,394.10, a PE ratio of 99.13, a price-to-earnings-growth ratio of 2.26 and a beta of 1.55. Paycom Software Inc has a one year low of $53.70 and a one year high of $113.93.
Paycom Software (NYSE:PAYC) last posted its earnings results on Tuesday, February 6th. The software maker reported $0.29 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.05. The business had revenue of $114.00 million for the quarter, compared to analysts’ expectations of $113.01 million. Paycom Software had a net margin of 15.43% and a return on equity of 46.27%. The business’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.18 EPS. equities research analysts forecast that Paycom Software Inc will post 1.86 earnings per share for the current fiscal year.
Paycom Software declared that its Board of Directors has authorized a stock buyback program on Tuesday, February 13th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the software maker to buy shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.
Several analysts recently commented on the stock. Mizuho cut their price objective on shares of Paycom Software from $85.00 to $80.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 7th. KeyCorp reissued an “overweight” rating and set a $127.00 price objective (up from $105.00) on shares of Paycom Software in a research report on Tuesday, March 13th. Robert W. Baird increased their price objective on shares of Paycom Software from $82.00 to $92.00 and gave the company an “outperform” rating in a research report on Wednesday, February 7th. They noted that the move was a valuation call. Credit Suisse Group increased their price objective on shares of Paycom Software from $82.00 to $85.00 and gave the company a “neutral” rating in a research report on Wednesday, February 7th. Finally, Bank of America increased their price objective on shares of Paycom Software from $92.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. Paycom Software has a consensus rating of “Buy” and an average price target of $91.35.
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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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