Trillium Asset Management LLC Buys 319 Shares of Paycom Software Inc (NYSE:PAYC)
Trillium Asset Management LLC boosted its holdings in Paycom Software Inc (NYSE:PAYC) by 3.7% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 8,859 shares of the software maker’s stock after buying an additional 319 shares during the period. Trillium Asset Management LLC’s holdings in Paycom Software were worth $1,790,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Stephenson National Bank & Trust purchased a new stake in Paycom Software in the 4th quarter worth $25,000. 1776 Wealth LLC increased its stake in Paycom Software by 265.7% in the 1st quarter. 1776 Wealth LLC now owns 128 shares of the software maker’s stock worth $25,000 after buying an additional 93 shares in the last quarter. Allred Capital Management LLC purchased a new stake in Paycom Software in the 4th quarter worth $26,000. Pacifica Partners Inc. purchased a new stake in Paycom Software in the 4th quarter worth $26,000. Finally, Trustcore Financial Services LLC purchased a new stake in Paycom Software in the 1st quarter worth $34,000. Institutional investors and hedge funds own 70.97% of the company’s stock.
NYSE PAYC traded up $8.87 during trading on Friday, hitting $261.68. The stock had a trading volume of 933,015 shares, compared to its average volume of 1,115,887. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.10 and a current ratio of 1.10. The stock has a market capitalization of $15.02 billion, a price-to-earnings ratio of 77.88, a P/E/G ratio of 4.10 and a beta of 1.55. Paycom Software Inc has a one year low of $163.42 and a one year high of $342.00. The stock has a 50 day simple moving average of $223.65 and a 200 day simple moving average of $255.74.
Paycom Software announced that its board has authorized a stock buyback plan on Thursday, March 12th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the software maker to buy up to 1.9% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.
In other news, COO Jon Evans sold 3,000 shares of Paycom Software stock in a transaction that occurred on Tuesday, April 14th. The shares were sold at an average price of $230.38, for a total transaction of $691,140.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Craig E. Boelte sold 1,400 shares of Paycom Software stock in a transaction that occurred on Monday, April 13th. The shares were sold at an average price of $221.06, for a total transaction of $309,484.00. The disclosure for this sale can be found here. In the last three months, insiders sold 5,800 shares of company stock valued at $1,363,182. 16.10% of the stock is owned by insiders.
A number of equities research analysts have issued reports on PAYC shares. Cantor Fitzgerald cut their price target on Paycom Software from $314.00 to $245.00 and set a “neutral” rating for the company in a research note on Wednesday, April 29th. Mizuho cut their price objective on Paycom Software to $210.00 and set a “neutral” rating for the company in a research report on Wednesday, April 29th. Zacks Investment Research lowered Paycom Software from a “hold” rating to a “sell” rating and set a $254.00 price objective for the company. in a research report on Monday, May 4th. Credit Suisse Group cut their price objective on Paycom Software from $190.00 to $185.00 and set an “underperform” rating for the company in a research report on Wednesday, April 29th. Finally, Royal Bank of Canada cut their price objective on Paycom Software from $240.00 to $225.00 and set a “sector perform” rating for the company in a research report on Wednesday, April 29th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $245.06.
Paycom Software Profile
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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