Eagle Asset Management Inc. lessened its holdings in Paycom Software Inc (NYSE:PAYC) by 1.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 325,278 shares of the software maker’s stock after selling 6,433 shares during the period. Eagle Asset Management Inc.’s holdings in Paycom Software were worth $26,138,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. JPMorgan Chase & Co. increased its position in Paycom Software by 96.1% in the third quarter. JPMorgan Chase & Co. now owns 1,172,756 shares of the software maker’s stock worth $87,664,000 after purchasing an additional 574,658 shares during the last quarter. Jackson Square Partners LLC increased its position in Paycom Software by 3.6% in the third quarter. Jackson Square Partners LLC now owns 1,019,455 shares of the software maker’s stock worth $76,418,000 after purchasing an additional 35,855 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Paycom Software by 0.3% in the third quarter. Dimensional Fund Advisors LP now owns 945,552 shares of the software maker’s stock worth $70,878,000 after purchasing an additional 3,007 shares during the last quarter. State Street Corp increased its position in Paycom Software by 14.0% in the second quarter. State Street Corp now owns 911,240 shares of the software maker’s stock worth $62,337,000 after purchasing an additional 112,148 shares during the last quarter. Finally, New York State Common Retirement Fund increased its position in Paycom Software by 3.2% in the third quarter. New York State Common Retirement Fund now owns 772,867 shares of the software maker’s stock worth $57,934,000 after purchasing an additional 24,009 shares during the last quarter. Institutional investors own 89.38% of the company’s stock.
Several brokerages recently weighed in on PAYC. KeyCorp restated a “buy” rating and issued a $105.00 price target on shares of Paycom Software in a research report on Monday, February 12th. Barclays boosted their price target on shares of Paycom Software from $96.00 to $97.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 7th. Stifel Nicolaus boosted their price target on shares of Paycom Software from $85.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, February 7th. Mizuho reduced their price target on shares of Paycom Software from $85.00 to $80.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 7th. Finally, Zacks Investment Research upgraded shares of Paycom Software from a “hold” rating to a “strong-buy” rating and set a $97.00 price target on the stock in a research report on Friday, February 9th. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $88.56.
In other news, Director Robert J. Levenson sold 18,750 shares of the business’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $88.89, for a total transaction of $1,666,687.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Craig E. Boelte sold 11,000 shares of the business’s stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $78.92, for a total transaction of $868,120.00. The disclosure for this sale can be found here. Insiders have sold 79,750 shares of company stock valued at $6,533,308 over the last three months. Insiders own 17.90% of the company’s stock.
Paycom Software Inc (PAYC) opened at $94.90 on Monday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.01 and a current ratio of 1.01. Paycom Software Inc has a 1 year low of $52.07 and a 1 year high of $96.59. The firm has a market cap of $5,616.44, a price-to-earnings ratio of 81.81, a price-to-earnings-growth ratio of 1.99 and a beta of 1.70.
Paycom Software (NYSE:PAYC) last posted its quarterly earnings data on Tuesday, February 6th. The software maker reported $0.29 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.05. Paycom Software had a net margin of 15.43% and a return on equity of 46.27%. The business had revenue of $114.00 million for the quarter, compared to analysts’ expectations of $113.01 million. During the same quarter in the previous year, the business posted $0.18 earnings per share. The business’s revenue was up 29.8% compared to the same quarter last year. equities research analysts expect that Paycom Software Inc will post 1.85 EPS for the current fiscal year.
Paycom Software announced that its Board of Directors has initiated a share buyback plan on Tuesday, February 13th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the software maker to purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.
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About Paycom Software
Paycom Software, Inc is a provider of a cloud-based human capital management (HCM) software solution delivered as Software-as-a-Service (SaaS). The Company provides functionality and data analytics that businesses need to manage the complete employment life cycle from recruitment to retirement. The Company’s applications streamline client processes and provide clients and their employees with the ability to directly access and manage administrative processes, including applications that identify candidates, on-board employees, manage time and labor, administer payroll deductions and benefits, manage performance, terminate employees and administer post-termination health benefits, such as COBRA.
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