Frederick C. Peters II Purchases 1,000 Shares of Paycom Software Inc. (PAYC) Stock
Paycom Software Inc. (NYSE:PAYC) Director Frederick C. Peters II acquired 1,000 shares of the firm’s stock in a transaction dated Monday, November 14th. The stock was bought at an average cost of $41.24 per share, with a total value of $41,240.00. Following the acquisition, the director now owns 21,000 shares in the company, valued at $866,040. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.
Shares of Paycom Software Inc. (NYSE:PAYC) opened at 43.25 on Thursday. Paycom Software Inc. has a 52-week low of $22.42 and a 52-week high of $52.93. The stock has a 50 day moving average price of $47.97 and a 200-day moving average price of $46.07. The stock has a market capitalization of $2.51 billion, a price-to-earnings ratio of 63.79 and a beta of 1.99.
Paycom Software (NYSE:PAYC) last issued its quarterly earnings data on Tuesday, November 1st. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.03. Paycom Software had a return on equity of 27.37% and a net margin of 13.17%. The business had revenue of $77.30 million for the quarter, compared to analysts’ expectations of $76.71 million. During the same period last year, the business earned $0.08 EPS. The business’s revenue was up 39.8% on a year-over-year basis. On average, equities research analysts predict that Paycom Software Inc. will post $0.84 EPS for the current fiscal year.
A number of hedge funds have recently modified their holdings of PAYC. Capital World Investors boosted its stake in Paycom Software by 299.5% in the third quarter. Capital World Investors now owns 3,974,571 shares of the company’s stock valued at $199,245,000 after buying an additional 2,979,732 shares in the last quarter. FMR LLC raised its stake in Paycom Software by 112.5% in the second quarter. FMR LLC now owns 2,974,483 shares of the company’s stock valued at $128,527,000 after buying an additional 1,574,501 shares during the last quarter. 1832 Asset Management L.P. acquired a new stake in shares of Paycom Software during the third quarter worth about $52,929,000. Jackson Square Partners LLC acquired a new stake in shares of Paycom Software during the second quarter worth about $43,519,000. Finally, Victory Capital Management Inc. raised its stake in shares of Paycom Software by 52,877.5% in the third quarter. Victory Capital Management Inc. now owns 786,186 shares of the company’s stock worth $39,411,000 after buying an additional 784,702 shares in the last quarter. Institutional investors and hedge funds own 78.06% of the company’s stock.
Several equities analysts have recently issued reports on PAYC shares. JPMorgan Chase & Co. cut Paycom Software from an “overweight” rating to a “neutral” rating and set a $53.00 price objective for the company. in a report on Wednesday, November 2nd. They noted that the move was a valuation call. Barclays PLC restated an “overweight” rating and issued a $55.00 price target (up previously from $51.00) on shares of Paycom Software in a research note on Tuesday, September 13th. Zacks Investment Research lowered Paycom Software from a “buy” rating to a “hold” rating in a research note on Thursday, August 11th. TheStreet lowered Paycom Software from a “buy” rating to a “hold” rating in a research note on Wednesday, August 3rd. Finally, Royal Bank Of Canada initiated coverage on Paycom Software in a research note on Friday, September 30th. They issued a “sector perform” rating and a $54.00 price target for the company. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Paycom Software presently has a consensus rating of “Buy” and a consensus target price of $53.92.
About Paycom Software
Paycom Software, Inc (Paycom) is a provider of cloud-based human capital management (HCM) software solution delivered as software as a service (SaaS). The Company’s solution is based on a system of record maintained in a single database for all HCM functions, including talent acquisition, time and labor management, payroll, talent management and human resources (HR) management applications.
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