BlackRock Inc. increased its holdings in shares of Paycom Software, Inc. (NYSE:PAYC) by 12.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,001,044 shares of the software maker’s stock after purchasing an additional 338,351 shares during the quarter. BlackRock Inc. owned approximately 5.04% of Paycom Software worth $205,302,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Paycom Software by 10.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,835 shares of the software maker’s stock worth $126,000 after acquiring an additional 167 shares during the period. Raymond James Trust N.A. purchased a new stake in Paycom Software during the second quarter worth $203,000. Strs Ohio boosted its position in Paycom Software by 342.9% during the first quarter. Strs Ohio now owns 3,100 shares of the software maker’s stock worth $178,000 after purchasing an additional 2,400 shares in the last quarter. Fiduciary Trust Co. purchased a new stake in Paycom Software during the second quarter worth $215,000. Finally, Bfsg LLC purchased a new stake in Paycom Software during the first quarter worth $203,000. 86.05% of the stock is currently owned by institutional investors.
A number of analysts have commented on PAYC shares. KeyCorp boosted their target price on Paycom Software to $94.00 in a research report on Wednesday, August 2nd. Stifel Nicolaus upped their price objective on Paycom Software from $67.00 to $80.00 and gave the company a “buy” rating in a research report on Wednesday, August 2nd. Canaccord Genuity upped their price objective on Paycom Software from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, August 2nd. Credit Suisse Group reiterated a “buy” rating on shares of Paycom Software in a research note on Monday, July 3rd. Finally, BidaskClub lowered Paycom Software from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 29th. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Paycom Software currently has a consensus rating of “Buy” and an average target price of $76.63.
In other news, CFO Craig E. Boelte sold 11,000 shares of Paycom Software stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $74.72, for a total transaction of $821,920.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Stacey M. Pezold sold 10,000 shares of Paycom Software stock in a transaction on Friday, September 1st. The stock was sold at an average price of $75.02, for a total transaction of $750,200.00. The disclosure for this sale can be found here. Insiders have sold a total of 61,000 shares of company stock worth $4,564,520 in the last quarter. 17.90% of the stock is currently owned by company insiders.
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Shares of Paycom Software, Inc. (NYSE PAYC) opened at 79.16 on Wednesday. The stock’s 50 day moving average price is $75.27 and its 200 day moving average price is $68.48. Paycom Software, Inc. has a 1-year low of $39.15 and a 1-year high of $79.98. The company has a market capitalization of $4.59 billion, a price-to-earnings ratio of 85.86 and a beta of 1.72.
Paycom Software (NYSE:PAYC) last announced its earnings results on Tuesday, August 1st. The software maker reported $0.24 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.11. The company had revenue of $98.20 million for the quarter, compared to analysts’ expectations of $95.98 million. Paycom Software had a net margin of 14.28% and a return on equity of 35.77%. The business’s revenue for the quarter was up 32.9% on a year-over-year basis. During the same period last year, the firm earned $0.21 earnings per share. Analysts expect that Paycom Software, Inc. will post $1.15 EPS for the current year.
Paycom Software Company 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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