Paycom Software, Inc. (NYSE:PAYC) Shares Sold by AQR Capital Management LLC
AQR Capital Management LLC lowered its position in Paycom Software, Inc. (NYSE:PAYC) by 27.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,864 shares of the software maker’s stock after selling 7,494 shares during the period. AQR Capital Management LLC’s holdings in Paycom Software were worth $1,142,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PAYC. Strs Ohio raised its position in Paycom Software by 342.9% in the first quarter. Strs Ohio now owns 3,100 shares of the software maker’s stock worth $178,000 after buying an additional 2,400 shares during the last quarter. Ameritas Investment Partners Inc. purchased a new position in Paycom Software during the first quarter worth about $219,000. Eqis Capital Management Inc. purchased a new position in Paycom Software during the first quarter worth about $240,000. Blair William & Co. IL purchased a new position in Paycom Software during the first quarter worth about $243,000. Finally, 1st Global Advisors Inc. raised its position in Paycom Software by 3.4% in the first quarter. 1st Global Advisors Inc. now owns 5,492 shares of the software maker’s stock worth $316,000 after buying an additional 182 shares during the last quarter. 91.03% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Paycom Software, Inc. (NYSE PAYC) traded up 0.26% during trading on Monday, reaching $69.66. The company had a trading volume of 75,065 shares. The firm has a market capitalization of $4.04 billion, a P/E ratio of 75.97 and a beta of 1.75. Paycom Software, Inc. has a 52-week low of $39.15 and a 52-week high of $73.61. The company has a 50 day moving average of $69.35 and a 200-day moving average of $60.49.
Paycom Software (NYSE:PAYC) last released its quarterly earnings data on Tuesday, August 1st. The software maker reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.11. The business had revenue of $98.20 million during the quarter, compared to the consensus estimate of $95.98 million. Paycom Software had a return on equity of 35.77% and a net margin of 14.28%. The firm’s revenue was up 32.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.21 earnings per share. Equities analysts expect that Paycom Software, Inc. will post $1.15 earnings per share for the current year.
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A number of research analysts recently issued reports on the company. UBS AG reaffirmed a “buy” rating on shares of Paycom Software in a report on Wednesday, May 3rd. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $74.00 target price (up from $67.00) on shares of Paycom Software in a report on Wednesday, August 2nd. Canaccord Genuity lifted their target price on Paycom Software from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday, August 2nd. Jefferies Group LLC reaffirmed a “buy” rating and set a $83.00 target price (up from $73.00) on shares of Paycom Software in a report on Wednesday, August 2nd. Finally, KeyCorp lifted their target price on Paycom Software to $94.00 in a report on Wednesday, August 2nd. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $75.36.
In other Paycom Software news, insider Stacey M. Pezold sold 30,000 shares of the stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $70.15, for a total value of $2,104,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jeffrey D. York sold 40,000 shares of the stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $66.93, for a total value of $2,677,200.00. The disclosure for this sale can be found here. Corporate insiders own 17.90% of the company’s stock.
Paycom Software Company 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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