Cim LLC trimmed its position in shares of Paycom Software Inc (NYSE:PAYC) by 26.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,040 shares of the software maker’s stock after selling 2,540 shares during the quarter. Cim LLC’s holdings in Paycom Software were worth $1,331,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in PAYC. Cetera Advisor Networks LLC bought a new stake in Paycom Software during the first quarter worth $204,000. Cetera Advisors LLC purchased a new position in shares of Paycom Software during the 1st quarter valued at $221,000. Stephens Inc. AR purchased a new position in shares of Paycom Software during the 1st quarter valued at $263,000. Groesbeck Investment Management Corp NJ lifted its position in shares of Paycom Software by 7.1% during the 1st quarter. Groesbeck Investment Management Corp NJ now owns 3,340 shares of the software maker’s stock valued at $632,000 after buying an additional 220 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of Paycom Software by 32.1% during the 1st quarter. Victory Capital Management Inc. now owns 197,635 shares of the software maker’s stock valued at $37,379,000 after buying an additional 48,004 shares during the last quarter. 77.47% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:PAYC traded up $0.97 during midday trading on Wednesday, reaching $204.25. 3,584 shares of the company traded hands, compared to its average volume of 724,281. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.04 and a current ratio of 1.04. Paycom Software Inc has a 12 month low of $96.44 and a 12 month high of $210.55. The firm has a market cap of $11.78 billion, a price-to-earnings ratio of 92.34, a PEG ratio of 3.01 and a beta of 1.80.

Paycom Software (NYSE:PAYC) last announced its earnings results on Tuesday, April 30th. The software maker reported $0.82 earnings per share for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.07). The business had revenue of $199.90 million during the quarter, compared to the consensus estimate of $195.53 million. Paycom Software had a return on equity of 39.02% and a net margin of 23.38%. Paycom Software’s revenue was up 29.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.95 earnings per share. Equities analysts predict that Paycom Software Inc will post 2.6 EPS for the current fiscal year.

A number of research analysts have recently commented on the company. Zacks Investment Research cut Paycom Software from a “buy” rating to a “hold” rating in a research report on Monday, May 6th. Canaccord Genuity boosted their price objective on Paycom Software from $160.00 to $195.00 and gave the company a “hold” rating in a research note on Thursday, May 2nd. Jefferies Financial Group boosted their price objective on Paycom Software from $210.00 to $233.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Needham & Company LLC reiterated a “buy” rating and set a $230.00 price objective (up from $200.00) on shares of Paycom Software in a research note on Wednesday, May 1st. They noted that the move was a valuation call. Finally, KeyCorp boosted their price objective on Paycom Software from $210.00 to $215.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $185.69.

In other Paycom Software news, insider Bradley Scott Smith sold 2,600 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $181.53, for a total value of $471,978.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Craig E. Boelte sold 12,000 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $176.03, for a total value of $2,112,360.00. The disclosure for this sale can be found here. Insiders sold a total of 19,020 shares of company stock worth $3,448,236 over the last 90 days. Corporate insiders own 16.09% of the company’s stock.

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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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