Zeke Capital Advisors LLC purchased a new position in Paycom (NYSE:PAYC) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,655 shares of the software maker’s stock, valued at approximately $285,000.
A number of other large investors have also bought and sold shares of PAYC. SG Americas Securities LLC increased its holdings in shares of Paycom by 21.4% during the first quarter. SG Americas Securities LLC now owns 11,530 shares of the software maker’s stock worth $1,238,000 after buying an additional 2,032 shares in the last quarter. CIBC Asset Management Inc bought a new position in shares of Paycom during the first quarter worth $214,000. Advisors Preferred LLC bought a new position in shares of Paycom during the first quarter worth $117,000. Cookson Peirce & Co. Inc. bought a new position in shares of Paycom during the first quarter worth $213,000. Finally, Comerica Bank bought a new position in shares of Paycom during the first quarter worth $207,000. 87.00% of the stock is owned by hedge funds and other institutional investors.
PAYC has been the topic of a number of recent analyst reports. KeyCorp reissued a “buy” rating and set a $105.00 price target on shares of Paycom in a research report on Monday, February 12th. Bank of America boosted their price objective on shares of Paycom from $92.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. Stifel Nicolaus boosted their price objective on shares of Paycom from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. Dougherty & Co boosted their price objective on shares of Paycom from $100.00 to $125.00 and gave the company a “buy” rating in a research report on Monday, April 9th. Finally, ValuEngine raised shares of Paycom from a “hold” rating to a “buy” rating in a research report on Wednesday, May 2nd. Eight research 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. The stock currently has a consensus rating of “Buy” and a consensus target price of $102.29.
In other news, Director Robert J. Levenson sold 3,004 shares of the business’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $100.93, for a total transaction of $303,193.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Jeffrey D. York sold 50,000 shares of the business’s stock in a transaction dated Monday, April 2nd. The stock was sold at an average price of $104.27, for a total transaction of $5,213,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 162,750 shares of company stock worth $17,417,816 over the last 90 days. 16.24% of the stock is owned by company insiders.
PAYC stock traded up $0.19 during midday trading on Thursday, hitting $101.86. The company’s stock had a trading volume of 14,681 shares, compared to its average volume of 759,872. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.10. Paycom has a twelve month low of $100.58 and a twelve month high of $102.17. The firm has a market capitalization of $6.00 billion, a P/E ratio of 115.38, a PEG ratio of 2.28 and a beta of 1.47.
Paycom (NYSE:PAYC) last issued its quarterly earnings results on Tuesday, May 1st. The software maker reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.05. The firm had revenue of $153.92 million for the quarter, compared to analyst estimates of $151.42 million. Paycom had a net margin of 17.62% and a return on equity of 42.85%. The company’s revenue was up 28.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.47 EPS. equities research analysts forecast that Paycom will post 1.83 EPS for the current fiscal year.
Paycom declared that its board has authorized a stock repurchase program on Tuesday, February 13th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the software maker to purchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
Paycom Company Profile
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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