Paycom Software Inc (NYSE:PAYC) Holdings Trimmed by Creative Planning
Creative Planning trimmed its position in shares of Paycom Software Inc (NYSE:PAYC) by 60.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,871 shares of the software maker’s stock after selling 2,909 shares during the period. Creative Planning’s holdings in Paycom Software were worth $580,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of Paycom Software during the 4th quarter valued at $121,950,000. Franklin Resources Inc. acquired a new stake in shares of Paycom Software during the 4th quarter valued at $26,940,000. State of Alaska Department of Revenue boosted its stake in shares of Paycom Software by 70.7% during the 1st quarter. State of Alaska Department of Revenue now owns 23,698 shares of the software maker’s stock valued at $4,786,000 after buying an additional 9,816 shares during the period. IBM Retirement Fund acquired a new stake in shares of Paycom Software during the 1st quarter valued at $233,000. Finally, Paragon Advisors LLC boosted its stake in shares of Paycom Software by 12.9% during the 1st quarter. Paragon Advisors LLC now owns 2,527 shares of the software maker’s stock valued at $510,000 after buying an additional 288 shares during the period. Hedge funds and other institutional investors own 75.20% of the company’s stock.
In other news, insider Bradley Scott Smith sold 10,000 shares of the business’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $304.27, for a total transaction of $3,042,700.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Jon Evans sold 3,000 shares of the business’s stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $316.82, for a total transaction of $950,460.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 447,942 shares of company stock valued at $120,871,330. Company insiders own 16.10% of the company’s stock.
Paycom Software (NYSE:PAYC) last released its earnings results on Tuesday, April 28th. The software maker reported $1.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.26 by $0.07. The firm had revenue of $242.40 million during the quarter, compared to analyst estimates of $237.93 million. Paycom Software had a net margin of 25.17% and a return on equity of 37.04%. The business’s revenue was up 21.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.19 EPS. As a group, sell-side analysts expect that Paycom Software Inc will post 2.62 earnings per share for the current year.
PAYC has been the subject of a number of research reports. Zacks Investment Research lowered shares of Paycom Software from a “hold” rating to a “sell” rating and set a $254.00 target price for the company. in a research note on Monday, May 4th. Credit Suisse Group lifted their target price on shares of Paycom Software from $185.00 to $205.00 and gave the company an “underperform” rating in a research note on Thursday. Oppenheimer lifted their price objective on shares of Paycom Software from $255.00 to $345.00 and gave the company an “outperform” rating in a research note on Thursday, July 16th. They noted that the move was a valuation call. Cantor Fitzgerald reduced their price objective on shares of Paycom Software from $314.00 to $245.00 and set a “neutral” rating for the company in a research note on Wednesday, April 29th. Finally, Citigroup lifted their price objective on shares of Paycom Software from $262.00 to $315.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the stock. Paycom Software presently has an average rating of “Hold” and an average price target of $259.81.
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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