Tredje AP fonden Acquires 2,125 Shares of Paycom Software, Inc. $PAYC

Tredje AP fonden grew its stake in Paycom Software, Inc. (NYSE:PAYC) by 50.2% during the second quarter, HoldingsChannel.com reports. The firm owned 6,357 shares of the software maker’s stock after buying an additional 2,125 shares during the period. Tredje AP fonden’s holdings in Paycom Software were worth $1,471,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. SouthState Corp acquired a new position in Paycom Software in the first quarter valued at about $27,000. S Bank Fund Management Ltd acquired a new position in shares of Paycom Software during the 1st quarter worth about $37,000. Assetmark Inc. increased its stake in shares of Paycom Software by 651.9% in the 2nd quarter. Assetmark Inc. now owns 203 shares of the software maker’s stock valued at $47,000 after acquiring an additional 176 shares during the last quarter. Brooklyn Investment Group raised its position in shares of Paycom Software by 19.4% in the 1st quarter. Brooklyn Investment Group now owns 240 shares of the software maker’s stock valued at $52,000 after acquiring an additional 39 shares during the period. Finally, Mather Group LLC. raised its position in shares of Paycom Software by 510.2% in the 1st quarter. Mather Group LLC. now owns 299 shares of the software maker’s stock valued at $65,000 after acquiring an additional 250 shares during the period. 87.77% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PAYC has been the subject of several recent analyst reports. TD Cowen raised shares of Paycom Software from a “hold” rating to a “buy” rating and upped their target price for the company from $246.00 to $258.00 in a research note on Monday, September 22nd. KeyCorp boosted their price target on shares of Paycom Software from $285.00 to $290.00 and gave the company an “overweight” rating in a report on Thursday, August 7th. BMO Capital Markets raised their price objective on Paycom Software from $244.00 to $258.00 and gave the stock a “market perform” rating in a research note on Thursday, August 7th. Guggenheim started coverage on Paycom Software in a research note on Friday, September 26th. They issued a “buy” rating and a $270.00 target price for the company. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Paycom Software in a report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $243.69.

Insider Transactions at Paycom Software

In other Paycom Software news, insider Bradley Scott Smith sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $223.27, for a total value of $334,905.00. Following the sale, the insider owned 24,533 shares in the company, valued at approximately $5,477,482.91. The trade was a 5.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 10.90% of the company’s stock.

Paycom Software Trading Up 1.1%

Shares of NYSE PAYC opened at $187.33 on Monday. The firm has a market cap of $10.84 billion, a PE ratio of 25.35, a PEG ratio of 2.07 and a beta of 0.82. Paycom Software, Inc. has a 1-year low of $183.76 and a 1-year high of $267.76. The company has a fifty day moving average price of $211.07 and a 200 day moving average price of $227.70.

Paycom Software (NYSE:PAYC) last released its quarterly earnings results on Wednesday, August 6th. The software maker reported $2.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.28. The firm had revenue of $483.60 million for the quarter, compared to the consensus estimate of $472.00 million. Paycom Software had a return on equity of 25.40% and a net margin of 21.22%.The company’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same quarter last year, the business posted $1.62 EPS. Equities research analysts forecast that Paycom Software, Inc. will post 7.15 EPS for the current year.

About Paycom Software

Paycom Software, Inc provides cloud-based human capital management (HCM) solution delivered as software-as-a-service for small to mid-sized companies in the United States. It offers functionality and data analytics that businesses need to manage the employment life cycle from recruitment to retirement.