Paycom Software, Inc. (PAYC) Stake Decreased by Advisor Group Inc.
Advisor Group Inc. trimmed its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 11.8% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 2,465 shares of the software maker’s stock after selling 329 shares during the quarter. Advisor Group Inc.’s holdings in Paycom Software were worth $169,000 as of its most recent SEC filing.
Other large investors also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Paycom Software by 10.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,835 shares of the software maker’s stock worth $126,000 after buying an additional 167 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Paycom Software by 7.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,220 shares of the software maker’s stock worth $152,000 after buying an additional 150 shares during the last quarter. Raymond James Trust N.A. bought a new stake in shares of Paycom Software during the 2nd quarter worth $203,000. Fiduciary Trust Co. bought a new stake in shares of Paycom Software during the 2nd quarter worth $215,000. Finally, Janus Capital Management LLC bought a new stake in shares of Paycom Software during the 1st quarter worth $243,000. Hedge funds and other institutional investors own 86.05% of the company’s stock.
Paycom Software, Inc. (NYSE PAYC) opened at 80.07 on Friday. The company’s 50-day moving average price is $76.09 and its 200-day moving average price is $69.10. Paycom Software, Inc. has a one year low of $39.15 and a one year high of $80.55. The stock has a market cap of $4.64 billion, a P/E ratio of 86.84 and a beta of 1.72.
Paycom Software (NYSE:PAYC) last announced its quarterly earnings data on Tuesday, August 1st. The software maker reported $0.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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 net margin of 14.28% and a return on equity of 35.77%. The firm’s quarterly revenue was up 32.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.21 earnings per share. Analysts forecast that Paycom Software, Inc. will post $1.15 EPS for the current fiscal year.
In other news, CFO Craig E. Boelte sold 11,000 shares of Paycom Software stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $74.72, for a total transaction of $821,920.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Stacey M. Pezold sold 10,000 shares of Paycom Software stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $75.02, for a total transaction of $750,200.00. The disclosure for this sale can be found here. In the last three months, insiders sold 61,000 shares of company stock valued at $4,564,520. 17.90% of the stock is owned by insiders.
PAYC has been the subject of several recent analyst reports. Canaccord Genuity upped their price objective on Paycom Software from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, June 27th. BidaskClub downgraded Paycom Software from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 29th. Credit Suisse Group restated a “buy” rating on shares of Paycom Software in a research report on Monday, July 3rd. Mizuho downgraded Paycom Software from a “buy” rating to a “neutral” rating and set a $70.00 price objective for the company. in a research report on Monday, July 10th. Finally, Barclays PLC restated a “buy” rating and set a $74.00 price objective on shares of Paycom Software in a research report on Wednesday, July 19th. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. Paycom Software presently has an average rating of “Buy” and a consensus target price of $76.63.
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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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