Rhumbline Advisers lowered its stake in Paycom Software Inc (NYSE:PAYC) by 4.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 46,248 shares of the software maker’s stock after selling 2,029 shares during the quarter. Rhumbline Advisers owned about 0.08% of Paycom Software worth $4,967,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the business. Hennessy Advisors Inc. purchased a new stake in Paycom Software in the 1st quarter worth $1,338,000. Cambridge Investment Research Advisors Inc. raised its position in shares of Paycom Software by 9.8% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 7,142 shares of the software maker’s stock valued at $574,000 after buying an additional 637 shares in the last quarter. Xact Kapitalforvaltning AB purchased a new stake in shares of Paycom Software during the 4th quarter valued at about $356,000. MetLife Investment Advisors LLC purchased a new stake in shares of Paycom Software during the 4th quarter valued at about $1,743,000. Finally, Macquarie Group Ltd. raised its position in shares of Paycom Software by 5.3% during the 4th quarter. Macquarie Group Ltd. now owns 542,013 shares of the software maker’s stock valued at $43,540,000 after buying an additional 27,154 shares in the last quarter. Institutional investors and hedge funds own 84.70% of the company’s stock.
Several brokerages have recently issued reports on PAYC. ValuEngine cut shares of Paycom Software from a “buy” rating to a “hold” rating in a research report on Tuesday. Robert W. Baird upped their target price 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. Canaccord Genuity restated a “buy” rating and set a $125.00 target price on shares of Paycom Software in a research report on Wednesday, May 2nd. Barclays upped their target price on shares of Paycom Software from $96.00 to $97.00 and gave the company an “overweight” rating in a research report on Wednesday, February 7th. Finally, Mizuho decreased their target price 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. Nine equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $102.29.
In related news, CFO Craig E. Boelte sold 11,000 shares of the company’s stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $98.45, for a total transaction of $1,082,950.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert J. Levenson sold 3,004 shares of the company’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 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 quarter. 16.24% of the stock is currently owned by insiders.
Shares of Paycom Software opened at $101.78 on Thursday, Marketbeat reports. The stock has a market cap of $6.07 billion, a P/E ratio of 115.66, a PEG ratio of 2.31 and a beta of 1.47. Paycom Software Inc has a 12 month low of $62.17 and a 12 month high of $118.45. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.06 and a current ratio of 1.06.
Paycom Software (NYSE:PAYC) last issued its quarterly earnings results on Tuesday, May 1st. The software maker reported $0.95 EPS for the quarter, beating the consensus estimate of $0.90 by $0.05. The company had revenue of $153.92 million for the quarter, compared to the consensus estimate of $151.42 million. Paycom Software had a net margin of 17.62% and a return on equity of 42.85%. The firm’s revenue was up 28.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.47 EPS. equities analysts forecast that Paycom Software Inc will post 1.83 EPS for the current year.
Paycom Software declared that its Board of Directors has approved a stock repurchase plan 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 plans are generally a sign that the company’s management believes its stock is undervalued.
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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