Paycom Software, Inc. (PAYC) Stake Decreased by Geneva Advisors LLC
Geneva Advisors LLC decreased its stake in Paycom Software, Inc. (NYSE:PAYC) by 9.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,869 shares of the software maker’s stock after selling 981 shares during the period. Geneva Advisors LLC’s holdings in Paycom Software were worth $675,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Swiss National Bank raised its position in Paycom Software by 1.2% in the first quarter. Swiss National Bank now owns 69,597 shares of the software maker’s stock valued at $4,003,000 after buying an additional 800 shares during the period. Raymond James Financial Services Advisors Inc. raised its position 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. Ameritas Investment Partners Inc. purchased a new position in Paycom Software during the first quarter valued at approximately $219,000. Alps Advisors Inc. raised its position in Paycom Software by 0.3% in the second quarter. Alps Advisors Inc. now owns 8,542 shares of the software maker’s stock valued at $584,000 after buying an additional 22 shares during the period. Finally, Brown Capital Management LLC raised its position in Paycom Software by 16.1% in the first quarter. Brown Capital Management LLC now owns 2,627,344 shares of the software maker’s stock valued at $151,099,000 after buying an additional 364,548 shares during the period. Hedge funds and other institutional investors own 86.05% of the company’s stock.
Shares of Paycom Software, Inc. (NYSE:PAYC) opened at 71.93 on Wednesday. The stock has a market capitalization of $4.17 billion, a P/E ratio of 78.02 and a beta of 1.75. Paycom Software, Inc. has a 12-month low of $39.15 and a 12-month high of $74.82. The stock has a 50 day moving average of $70.15 and a 200 day moving average of $63.20.
Paycom Software (NYSE:PAYC) last issued its earnings results on Tuesday, August 1st. The software maker reported $0.24 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.11. Paycom Software had a return on equity of 35.77% and a net margin of 14.28%. The firm had revenue of $98.20 million for the quarter, compared to analyst estimates of $95.98 million. During the same period last year, the company earned $0.21 earnings per share. The firm’s revenue for the quarter was up 32.9% on a year-over-year basis. Equities research analysts anticipate 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. Credit Suisse Group boosted their target price on shares of Paycom Software from $70.00 to $78.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 2nd. Jefferies Group LLC reissued a “buy” rating and set a $73.00 target price on shares of Paycom Software in a research report on Thursday, June 8th. Wunderlich boosted their target price on shares of Paycom Software from $62.00 to $73.00 and gave the stock a “buy” rating in a research report on Wednesday, May 3rd. Wells Fargo & Company began coverage on shares of Paycom Software in a research report on Thursday, May 11th. They set an “outperform” rating and a $75.00 target price on the stock. Finally, Canaccord Genuity boosted their target price on shares of Paycom Software from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, June 27th. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. Paycom Software presently has a consensus rating of “Buy” and a consensus target price of $75.36.
In related news, insider Stacey M. Pezold sold 30,000 shares of the stock in a transaction on Monday, June 19th. The stock was sold at an average price of $70.15, for a total value of $2,104,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeffrey D. York sold 40,000 shares of the 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. 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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