Paycom Software Inc. (PAYC) Stake Reduced by Cupps Capital Management LLC
Cupps Capital Management LLC decreased its stake in Paycom Software Inc. (NYSE:PAYC) by 34.7% during the third quarter, according to its most recent filing with the SEC. The fund owned 119,720 shares of the company’s stock after selling 63,505 shares during the period. Paycom Software accounts for 2.6% of Cupps Capital Management LLC’s investment portfolio, making the stock its 4th largest position. Cupps Capital Management LLC owned 0.21% of Paycom Software worth $6,001,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in the company. Tower Research Capital LLC TRC boosted its stake in Paycom Software by 2,376.0% in the second quarter. Tower Research Capital LLC TRC now owns 2,476 shares of the company’s stock worth $107,000 after buying an additional 2,376 shares during the last quarter. Royal Bank of Canada boosted its stake in Paycom Software by 34.8% in the second quarter. Royal Bank of Canada now owns 2,826 shares of the company’s stock worth $122,000 after buying an additional 730 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in Paycom Software by 114.4% in the third quarter. BNP Paribas Arbitrage SA now owns 3,683 shares of the company’s stock worth $185,000 after buying an additional 1,965 shares during the last quarter. BlackRock Inc. boosted its stake in Paycom Software by 96.8% in the second quarter. BlackRock Inc. now owns 4,320 shares of the company’s stock worth $187,000 after buying an additional 2,125 shares during the last quarter. Finally, Pinnacle Financial Partners Inc. bought a new stake in Paycom Software during the second quarter worth about $231,000. Hedge funds and other institutional investors own 77.92% of the company’s stock.
Shares of Paycom Software Inc. (NYSE:PAYC) traded down 0.18% during trading on Monday, reaching $43.71. The company had a trading volume of 624,352 shares. Paycom Software Inc. has a 52-week low of $22.42 and a 52-week high of $52.93. The firm has a market capitalization of $2.53 billion, a P/E ratio of 64.47 and a beta of 1.99. The company has a 50 day moving average of $47.71 and a 200-day moving average of $46.10.
Paycom Software (NYSE:PAYC) last announced its quarterly earnings results on Tuesday, November 1st. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.03. Paycom Software had a return on equity of 27.37% and a net margin of 13.17%. The firm had revenue of $77.30 million for the quarter, compared to analysts’ expectations of $76.71 million. During the same period in the prior year, the business posted $0.08 earnings per share. The business’s revenue was up 39.8% compared to the same quarter last year. Equities analysts expect that Paycom Software Inc. will post $0.84 earnings per share for the current year.
A number of equities research analysts recently weighed in on PAYC shares. Barclays PLC restated an “overweight” rating and set a $55.00 price objective (up from $51.00) on shares of Paycom Software in a research note on Tuesday, September 13th. TheStreet cut shares of Paycom Software from a “buy” rating to a “hold” rating in a research note on Wednesday, August 3rd. Canaccord Genuity restated a “buy” rating and set a $55.00 price objective on shares of Paycom Software in a research note on Thursday, August 4th. Royal Bank Of Canada started coverage on shares of Paycom Software in a research note on Friday, September 30th. They set a “sector perform” rating and a $54.00 price objective on the stock. Finally, RBC Capital Markets started coverage on shares of Paycom Software in a research note on Friday, September 30th. They set a “sector perform” rating and a $54.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $53.92.
In other Paycom Software news, insider Chad R. Richison acquired 5,570 shares of Paycom Software stock in a transaction on Friday, November 4th. The shares were bought at an average price of $43.21 per share, with a total value of $240,679.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider William X. Kerber III sold 55,000 shares of the business’s stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $52.08, for a total value of $2,864,400.00. The disclosure for this sale can be found here. 18.70% of the stock is owned by company insiders.
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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