American Century Companies Inc. Buys New Holdings in Paycom Software, Inc. (PAYC)
American Century Companies Inc. bought a new position in shares of Paycom Software, Inc. (NYSE:PAYC) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 126,641 shares of the software maker’s stock, valued at approximately $8,664,000. American Century Companies Inc. owned approximately 0.21% of Paycom Software at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in the stock. Strs Ohio increased its holdings in shares of Paycom Software by 342.9% in the first quarter. Strs Ohio now owns 3,100 shares of the software maker’s stock valued at $178,000 after buying an additional 2,400 shares in the last quarter. Bfsg LLC bought a new position in shares of Paycom Software in the first quarter valued at $203,000. Ameritas Investment Partners Inc. bought a new position in shares of Paycom Software in the first quarter valued at $219,000. Eqis Capital Management Inc. bought a new position in shares of Paycom Software in the first quarter valued at $240,000. Finally, Blair William & Co. IL bought a new position in shares of Paycom Software in the first quarter valued at $243,000. 86.05% of the stock is currently owned by hedge funds and other institutional investors.
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Several research analysts have issued reports on the company. Zacks Investment Research cut Paycom Software from a “buy” rating to a “hold” rating in a report on Friday, August 25th. BidaskClub raised Paycom Software from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 24th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $74.00 price target (up previously from $67.00) on shares of Paycom Software in a report on Tuesday, August 8th. KeyCorp upped their price target on Paycom Software to $94.00 in a report on Wednesday, August 2nd. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $83.00 price target (up previously from $73.00) on shares of Paycom Software in a report on Wednesday, August 2nd. Four analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Paycom Software currently has an average rating of “Buy” and an average price target of $75.36.
Paycom Software, Inc. (NYSE:PAYC) opened at 73.29 on Thursday. Paycom Software, Inc. has a 52-week low of $39.15 and a 52-week high of $75.57. The stock has a market capitalization of $4.25 billion, a PE ratio of 79.49 and a beta of 1.75. The firm’s 50-day moving average is $71.22 and its 200 day moving average is $64.54.
Paycom Software (NYSE:PAYC) last announced its earnings results on Tuesday, August 1st. The software maker reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.11. The business had revenue of $98.20 million for the quarter, compared to the consensus estimate of $95.98 million. Paycom Software had a net margin of 14.28% and a return on equity of 35.77%. Paycom Software’s quarterly revenue was up 32.9% on a year-over-year basis. During the same period last year, the firm posted $0.21 earnings per share. On average, equities analysts forecast that Paycom Software, Inc. will post $1.15 earnings per share for the current year.
In other Paycom Software news, insider Stacey M. Pezold sold 30,000 shares of Paycom Software stock in a transaction that occurred on Monday, June 19th. The shares were sold at an average price of $70.15, for a total transaction of $2,104,500.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jeffrey D. York sold 40,000 shares of Paycom Software stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $66.93, for a total transaction of $2,677,200.00. The disclosure for this sale can be found here. Insiders sold 80,000 shares of company stock worth $5,531,900 over the last ninety days. 17.90% of the stock is currently owned by insiders.
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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