National Asset Management Inc. cut its position in Paycom Software Inc (NYSE:PAYC) by 19.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,119 shares of the software maker’s stock after selling 973 shares during the quarter. National Asset Management Inc.’s holdings in Paycom Software were worth $642,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Westpac Banking Corp bought a new stake in shares of Paycom Software in the second quarter valued at $5,271,000. Verition Fund Management LLC bought a new stake in shares of Paycom Software in the second quarter valued at $1,020,000. Rational Advisors LLC bought a new stake in shares of Paycom Software in the second quarter valued at $148,000. Raymond James & Associates raised its stake in shares of Paycom Software by 123.7% in the second quarter. Raymond James & Associates now owns 39,660 shares of the software maker’s stock valued at $3,920,000 after buying an additional 21,933 shares during the period. Finally, Public Employees Retirement System of Ohio bought a new stake in shares of Paycom Software in the second quarter valued at $1,998,000. Hedge funds and other institutional investors own 79.89% of the company’s stock.

In other news, insider Kathy Oden-Hall sold 2,000 shares of the company’s stock in a transaction dated Friday, October 5th. The stock was sold at an average price of $140.21, for a total value of $280,420.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Craig E. Boelte sold 12,000 shares of the company’s stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $155.63, for a total value of $1,867,560.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 73,700 shares of company stock valued at $11,227,931. 16.24% of the stock is owned by company insiders.

Paycom Software stock opened at $123.62 on Monday. Paycom Software Inc has a 52 week low of $75.39 and a 52 week high of $164.08. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.08 and a quick ratio of 1.08. The stock has a market cap of $7.25 billion, a P/E ratio of 140.48, a price-to-earnings-growth ratio of 2.24 and a beta of 1.83.

Paycom Software (NYSE:PAYC) last posted its earnings results on Tuesday, October 30th. The software maker reported $0.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.01. Paycom Software had a return on equity of 39.19% and a net margin of 22.37%. The business had revenue of $133.29 million during the quarter, compared to analysts’ expectations of $130.52 million. During the same period in the previous year, the business earned $0.39 earnings per share. The firm’s revenue was up 31.6% on a year-over-year basis. As a group, equities research analysts predict that Paycom Software Inc will post 2.15 earnings per share for the current fiscal year.

Several brokerages have recently weighed in on PAYC. Bank of America cut Paycom Software from a “buy” rating to a “neutral” rating and set a $160.00 price target for the company. in a research report on Wednesday, September 26th. They noted that the move was a valuation call. Canaccord Genuity cut Paycom Software from a “buy” rating to a “hold” rating and lifted their price target for the company from $130.00 to $150.00 in a research report on Monday, October 1st. They noted that the move was a valuation call. Barclays lifted their price target on Paycom Software from $131.00 to $151.00 and gave the company an “equal weight” rating in a research report on Friday, September 7th. Guggenheim began coverage on Paycom Software in a research report on Monday, August 20th. They issued a “neutral” rating and a $140.00 price target for the company. Finally, Zacks Investment Research upgraded Paycom Software from a “hold” rating to a “strong-buy” rating and set a $155.00 price target for the company in a research report on Friday, August 3rd. Nine analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $126.82.

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About Paycom Software

Paycom Software, Inc provides cloud-based human capital management (HCM) software service for small to mid-sized companies in the United States. It provides functionality and data analytics that businesses need to manage the employment life cycle from recruitment to retirement. The company's HCM solution offers a suite of applications in the areas of talent acquisition, including applicant tracking, candidate tracker, background checks, on-boarding, e-verify, and tax credit services; and time and labor management, such as time and attendance, scheduling/schedule exchange, time-off requests, labor allocation, labor management reports/push reporting, and geofencing/geotracking.

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Institutional Ownership by Quarter for Paycom Software (NYSE:PAYC)

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