Raymond James Financial Services Advisors Inc. cut its holdings in shares of Paycom Software Inc (NYSE:PAYC) by 61.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,200 shares of the software maker’s stock after selling 8,448 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Paycom Software were worth $418,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of the stock. Aperio Group LLC bought a new stake in Paycom Software in the 4th quarter valued at $201,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Paycom Software by 49.5% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,743 shares of the software maker’s stock valued at $220,000 after purchasing an additional 908 shares during the period. Cetera Advisors LLC bought a new stake in Paycom Software in the 4th quarter valued at $241,000. Winslow Evans & Crocker Inc. bought a new stake in Paycom Software in the 4th quarter valued at $283,000. Finally, SG Americas Securities LLC bought a new stake in Paycom Software in the 3rd quarter valued at $285,000. 87.73% of the stock is currently owned by institutional investors and hedge funds.
Shares of Paycom Software Inc (NYSE:PAYC) opened at $109.98 on Friday. The firm has a market capitalization of $6,508.95, a price-to-earnings ratio of 94.81, a PEG ratio of 2.30 and a beta of 1.55. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.25. Paycom Software Inc has a 1 year low of $53.70 and a 1 year high of $112.21.
Paycom Software (NYSE:PAYC) last released its earnings results on Tuesday, February 6th. The software maker reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.05. The firm had revenue of $114.00 million during the quarter, compared to the consensus estimate of $113.01 million. Paycom Software had a return on equity of 46.27% and a net margin of 15.43%. The company’s revenue was up 29.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.18 EPS. sell-side analysts anticipate that Paycom Software Inc will post 1.86 earnings per share for the current year.
Paycom Software declared that its board has approved a share repurchase program on Tuesday, February 13th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the software maker to buy shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.
In other news, Director Robert J. Levenson sold 18,750 shares of the business’s stock in a transaction on Wednesday, March 7th. The stock was sold at an average price of $107.11, for a total transaction of $2,008,312.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeffrey D. York sold 50,000 shares of the business’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $79.97, for a total value of $3,998,500.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 104,750 shares of company stock valued at $9,388,528. Corporate insiders own 17.90% of the company’s stock.
Several research firms recently issued reports on PAYC. KeyCorp restated an “overweight” rating and issued a $127.00 price target (up from $105.00) on shares of Paycom Software in a research note on Tuesday, March 13th. Robert W. Baird boosted their price target on Paycom Software from $82.00 to $92.00 and gave the company an “outperform” rating in a research note on Wednesday, February 7th. They noted that the move was a valuation call. Barclays boosted their price target on Paycom Software from $96.00 to $97.00 and gave the company an “overweight” rating in a research note on Wednesday, February 7th. Mizuho reduced their price target on Paycom Software from $85.00 to $80.00 and set a “neutral” rating for the company in a research note on Wednesday, February 7th. Finally, Stifel Nicolaus boosted their price target on Paycom Software from $85.00 to $90.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $91.35.
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Paycom Software Profile
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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