Paycom Software, Inc. (PAYC) Shares Bought by State of Wisconsin Investment Board
State of Wisconsin Investment Board raised its stake in Paycom Software, Inc. (NYSE:PAYC) by 1.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 228,450 shares of the software maker’s stock after buying an additional 3,251 shares during the period. State of Wisconsin Investment Board owned approximately 0.38% of Paycom Software worth $15,628,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System raised its stake in Paycom Software by 0.7% in the first quarter. State Board of Administration of Florida Retirement System now owns 20,715 shares of the software maker’s stock valued at $1,191,000 after buying an additional 140 shares during the period. 1st Global Advisors Inc. raised its stake 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 valued at $316,000 after buying an additional 182 shares during the period. Neuberger Berman Group LLC raised its stake in Paycom Software by 6.6% in the first quarter. Neuberger Berman Group LLC now owns 5,788 shares of the software maker’s stock valued at $333,000 after buying an additional 357 shares during the period. Raymond James Financial Services Advisors Inc. raised its stake in Paycom Software by 4.2% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 9,403 shares of the software maker’s stock valued at $541,000 after buying an additional 376 shares during the period. Finally, Sapphire Star Partners LP raised its stake in Paycom Software by 3.6% in the first quarter. Sapphire Star Partners LP now owns 11,338 shares of the software maker’s stock valued at $652,000 after buying an additional 392 shares during the period. Hedge funds and other institutional investors own 90.42% of the company’s stock.
Shares of Paycom Software, Inc. (NYSE:PAYC) opened at 70.25 on Monday. Paycom Software, Inc. has a 1-year low of $39.15 and a 1-year high of $73.61. The firm has a market cap of $4.07 billion, a price-to-earnings ratio of 76.19 and a beta of 1.75. The company’s 50 day moving average price is $69.36 and its 200-day moving average price is $62.20.
Paycom Software (NYSE:PAYC) last announced its earnings results on Tuesday, August 1st. The software maker reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.11. The company had revenue of $98.20 million for the quarter, compared to analyst estimates of $95.98 million. Paycom Software had a return on equity of 35.77% and a net margin of 14.28%. Paycom Software’s revenue for the quarter was up 32.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.21 earnings per share. Equities analysts expect that Paycom Software, Inc. will post $1.15 EPS for the current fiscal year.
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Several research firms have weighed in on PAYC. Royal Bank Of Canada reissued a “sector perform” rating and issued a $74.00 target price (up previously from $67.00) on shares of Paycom Software in a report on Tuesday, August 8th. Zacks Investment Research raised Paycom Software from a “hold” rating to a “buy” rating and set a $78.00 target price on the stock in a report on Friday, August 4th. KeyCorp upped their target price on Paycom Software to $94.00 in a report on Wednesday, August 2nd. Jefferies Group LLC reissued a “buy” rating and issued a $83.00 target price (up previously from $73.00) on shares of Paycom Software in a report on Wednesday, August 2nd. Finally, Credit Suisse Group upped their target price on Paycom Software from $70.00 to $78.00 and gave the company an “outperform” rating in a report on Wednesday, August 2nd. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Paycom Software currently has an average rating of “Buy” and a consensus target price of $75.36.
In other news, insider Stacey M. Pezold sold 30,000 shares of Paycom Software stock in a transaction on Monday, June 19th. The stock was sold at an average price of $70.15, for a total transaction of $2,104,500.00. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Jeffrey D. York sold 40,000 shares of Paycom Software stock in a transaction on Monday, July 3rd. The shares were 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. Insiders own 17.90% of the company’s stock.
About Paycom Software
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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