Fred Alger Management Inc. trimmed its position in shares of Paycom Software, Inc. (NYSE:PAYC) by 2.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 49,236 shares of the software maker’s stock after selling 1,354 shares during the quarter. Fred Alger Management Inc. owned 0.08% of Paycom Software worth $3,368,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. boosted its holdings in Paycom Software by 4.2% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 9,403 shares of the software maker’s stock worth $541,000 after buying an additional 376 shares in the last quarter. Alps Advisors Inc. boosted its holdings in Paycom Software by 0.3% during the second quarter. Alps Advisors Inc. now owns 8,542 shares of the software maker’s stock worth $584,000 after buying an additional 22 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new stake in Paycom Software during the first quarter worth about $219,000. Federated Investors Inc. PA boosted its holdings in Paycom Software by 372.3% during the second quarter. Federated Investors Inc. PA now owns 70,163 shares of the software maker’s stock worth $4,800,000 after buying an additional 55,308 shares in the last quarter. Finally, TIAA CREF Investment Management LLC boosted its holdings in Paycom Software by 11.9% during the second quarter. TIAA CREF Investment Management LLC now owns 132,900 shares of the software maker’s stock worth $9,092,000 after buying an additional 14,144 shares in the last quarter. Institutional investors and hedge funds own 86.05% of the company’s stock.
Shares of Paycom Software, Inc. (NYSE PAYC) traded up 0.06% during trading on Tuesday, reaching $79.04. 29,501 shares of the company traded hands. Paycom Software, Inc. has a 12 month low of $39.15 and a 12 month high of $79.98. The firm has a market capitalization of $4.58 billion, a PE ratio of 85.73 and a beta of 1.73. The firm has a 50-day moving average price of $75.27 and a 200-day moving average price of $68.48.
Paycom Software (NYSE:PAYC) last issued its quarterly earnings results on Tuesday, August 1st. The software maker reported $0.24 EPS for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.11. Paycom Software had a return on equity of 35.77% and a net margin of 14.28%. The company had revenue of $98.20 million for the quarter, compared to analysts’ expectations of $95.98 million. During the same quarter last year, the business earned $0.21 earnings per share. Paycom Software’s revenue was up 32.9% on a year-over-year basis. Equities research analysts anticipate that Paycom Software, Inc. will post $1.15 EPS for the current year.
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In related news, insider Stacey M. Pezold sold 10,000 shares of the firm’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $75.02, for a total value of $750,200.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jeffrey D. York sold 40,000 shares of the firm’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $74.81, for a total value of $2,992,400.00. The disclosure for this sale can be found here. Insiders sold 61,000 shares of company stock worth $4,564,520 in the last 90 days. 17.90% of the stock is owned by company insiders.
A number of analysts recently commented on PAYC shares. Canaccord Genuity boosted their price objective on shares of Paycom Software from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Tuesday, June 27th. BidaskClub downgraded shares of Paycom Software from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 29th. Credit Suisse Group reissued a “buy” rating on shares of Paycom Software in a report on Monday, July 3rd. Mizuho downgraded shares of Paycom Software from a “buy” rating to a “neutral” rating and set a $70.00 price target on the stock. in a report on Monday, July 10th. Finally, Barclays PLC reaffirmed a “buy” rating and issued a $74.00 price target on shares of Paycom Software in a report on Wednesday, July 19th. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $76.63.
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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