Navellier & Associates Inc Has $1.15 Million Position in Paycom Software, Inc. (PAYC)
Navellier & Associates Inc lowered its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 11.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,849 shares of the software maker’s stock after selling 2,136 shares during the period. Navellier & Associates Inc’s holdings in Paycom Software were worth $1,153,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently bought and sold shares of PAYC. BlackRock Inc. boosted its stake in shares of Paycom Software by 74,069.7% during the first quarter. BlackRock Inc. now owns 2,662,693 shares of the software maker’s stock valued at $153,132,000 after acquiring an additional 2,659,103 shares during the last quarter. Capital World Investors boosted its stake in shares of Paycom Software by 6.7% during the second quarter. Capital World Investors now owns 6,612,914 shares of the software maker’s stock valued at $452,389,000 after acquiring an additional 415,000 shares during the last quarter. New York State Common Retirement Fund boosted its stake in shares of Paycom Software by 60.3% during the second quarter. New York State Common Retirement Fund now owns 748,858 shares of the software maker’s stock valued at $51,229,000 after acquiring an additional 281,778 shares during the last quarter. Koch Industries Inc. acquired a new stake in shares of Paycom Software during the second quarter valued at $271,000. Finally, Vanguard Group Inc. boosted its stake in shares of Paycom Software by 6.8% during the second quarter. Vanguard Group Inc. now owns 3,727,860 shares of the software maker’s stock valued at $255,023,000 after acquiring an additional 236,334 shares during the last quarter. 86.05% of the stock is currently owned by institutional investors and hedge funds.
Paycom Software, Inc. (NYSE:PAYC) traded up 0.4528% during trading on Tuesday, hitting $79.3477. The stock had a trading volume of 55,605 shares. Paycom Software, Inc. has a 1-year low of $39.15 and a 1-year high of $79.98. The firm’s 50 day moving average is $75.27 and its 200 day moving average is $68.48. The firm has a market cap of $4.60 billion, a price-to-earnings ratio of 86.0604 and a beta of 1.73.
Paycom Software (NYSE:PAYC) last issued its quarterly 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. Paycom Software had a return on equity of 35.77% and a net margin of 14.28%. The business had revenue of $98.20 million for the quarter, compared to the consensus estimate of $95.98 million. During the same quarter in the previous year, the company posted $0.21 earnings per share. Paycom Software’s revenue for the quarter was up 32.9% compared to the same quarter last year. On average, analysts anticipate 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 10,000 shares of the business’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $75.02, for a total value of $750,200.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jeffrey D. York sold 40,000 shares of the business’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $74.81, for a total value of $2,992,400.00. The disclosure for this sale can be found here. Insiders have sold 61,000 shares of company stock worth $4,564,520 in the last quarter. 17.90% of the stock is currently owned by corporate insiders.
A number of analysts recently commented on the company. Credit Suisse Group reaffirmed a “buy” rating on shares of Paycom Software in a research note on Monday, July 3rd. Barclays PLC raised their price target on Paycom Software from $74.00 to $82.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 13th. Stifel Nicolaus raised their price target on Paycom Software from $67.00 to $80.00 and gave the stock a “buy” rating in a research note on Wednesday, August 2nd. Zacks Investment Research lowered Paycom Software from a “buy” rating to a “hold” rating in a research note on Friday, August 25th. Finally, KeyCorp reissued a “hold” rating on shares of Paycom Software in a research note on Friday, October 6th. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $76.63.
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Paycom Software 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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