Paycom Software Inc (PAYC) Shares Bought by Virtu Financial LLC
Virtu Financial LLC increased its holdings in Paycom Software Inc (NYSE:PAYC) by 30.6% during the fourth quarter, HoldingsChannel reports. The firm owned 3,791 shares of the software maker’s stock after acquiring an additional 889 shares during the quarter. Virtu Financial LLC’s holdings in Paycom Software were worth $305,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. JPMorgan Chase & Co. increased its stake in Paycom Software by 96.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,172,756 shares of the software maker’s stock worth $87,664,000 after acquiring an additional 574,658 shares during the last quarter. Pembroke Management LTD increased its stake in Paycom Software by 48.4% in the 3rd quarter. Pembroke Management LTD now owns 252,600 shares of the software maker’s stock worth $18,935,000 after acquiring an additional 82,400 shares during the last quarter. Axiom International Investors LLC DE bought a new stake in Paycom Software in the 3rd quarter worth approximately $4,969,000. Macquarie Group Ltd. increased its stake in Paycom Software by 12.5% in the 3rd quarter. Macquarie Group Ltd. now owns 514,859 shares of the software maker’s stock worth $38,594,000 after acquiring an additional 57,353 shares during the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC increased its stake in Paycom Software by 8.1% in the 3rd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 668,725 shares of the software maker’s stock worth $50,128,000 after acquiring an additional 50,025 shares during the last quarter. 87.73% of the stock is currently owned by institutional investors.
A number of research firms have issued reports on PAYC. KeyCorp lifted their price objective on Paycom Software from $105.00 to $127.00 and gave the stock an “overweight” rating in a research note on Tuesday. Stifel Nicolaus lifted their price objective on Paycom Software from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday, February 7th. Mizuho reduced their price objective on Paycom Software from $85.00 to $80.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 7th. Robert W. Baird lifted their price objective on Paycom Software from $82.00 to $92.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. They noted that the move was a valuation call. Finally, Barclays lifted their price objective on Paycom Software from $96.00 to $97.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 7th. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $89.78.
Paycom Software (NYSE:PAYC) last released its earnings results on Tuesday, February 6th. The software maker reported $0.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.05. The firm had revenue of $114.00 million for the quarter, compared to the consensus estimate of $113.01 million. Paycom Software had a return on equity of 46.27% and a net margin of 15.43%. The company’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.18 EPS. analysts forecast that Paycom Software Inc will post 1.85 earnings per share for the current year.
Paycom Software declared that its Board of Directors has approved a stock buyback plan on Tuesday, February 13th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the software maker to buy shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.
In other news, Director Robert J. Levenson sold 18,750 shares of the business’s stock in a transaction that occurred on Wednesday, March 7th. The stock was sold at an average price of $107.11, for a total transaction of $2,008,312.50. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Robert J. Levenson sold 3,246 shares of the business’s stock in a transaction that occurred on Friday, March 2nd. The shares were sold at an average price of $101.32, for a total value of $328,884.72. The disclosure for this sale can be found here. In the last three months, insiders have sold 104,750 shares of company stock worth $9,388,528. 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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