Pictet Asset Management Ltd. bought a new position in Paycom Software Inc (NYSE:PAYC) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 18,100 shares of the software maker’s stock, valued at approximately $4,104,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Intrust Bank NA increased its holdings in shares of Paycom Software by 1.3% in the 1st quarter. Intrust Bank NA now owns 5,642 shares of the software maker’s stock valued at $1,067,000 after purchasing an additional 74 shares in the last quarter. State of Wisconsin Investment Board increased its holdings in shares of Paycom Software by 8.7% in the 1st quarter. State of Wisconsin Investment Board now owns 88,012 shares of the software maker’s stock valued at $16,646,000 after purchasing an additional 7,040 shares in the last quarter. Cookson Peirce & Co. Inc. increased its holdings in shares of Paycom Software by 109.9% in the 2nd quarter. Cookson Peirce & Co. Inc. now owns 150,423 shares of the software maker’s stock valued at $34,104,000 after purchasing an additional 78,769 shares in the last quarter. Wells Fargo & Company MN increased its holdings in shares of Paycom Software by 34.5% in the 2nd quarter. Wells Fargo & Company MN now owns 297,793 shares of the software maker’s stock valued at $67,516,000 after purchasing an additional 76,313 shares in the last quarter. Finally, Aperio Group LLC increased its holdings in shares of Paycom Software by 25.9% in the 2nd quarter. Aperio Group LLC now owns 6,476 shares of the software maker’s stock valued at $1,468,000 after purchasing an additional 1,332 shares in the last quarter. Institutional investors and hedge funds own 72.74% of the company’s stock.
A number of equities analysts have recently issued reports on the stock. KeyCorp increased their price target on shares of Paycom Software from $246.00 to $275.00 and gave the company an “overweight” rating in a report on Wednesday, July 31st. Credit Suisse Group increased their price target on shares of Paycom Software from $190.00 to $235.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. They noted that the move was a valuation call. Mizuho assumed coverage on shares of Paycom Software in a report on Wednesday, August 21st. They set a “neutral” rating and a $240.00 target price for the company. Zacks Investment Research upgraded shares of Paycom Software from a “hold” rating to a “buy” rating and set a $259.00 target price for the company in a report on Wednesday, August 21st. Finally, Oppenheimer raised their target price on shares of Paycom Software from $220.00 to $255.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Ten equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Paycom Software presently has a consensus rating of “Hold” and a consensus price target of $226.79.
Shares of Paycom Software stock traded up $4.98 during mid-day trading on Tuesday, hitting $216.27. 8,759 shares of the stock were exchanged, compared to its average volume of 649,675. Paycom Software Inc has a twelve month low of $107.46 and a twelve month high of $259.71. The stock has a market capitalization of $12.25 billion, a price-to-earnings ratio of 99.29, a price-to-earnings-growth ratio of 2.79 and a beta of 1.45. The company has a 50-day simple moving average of $238.79 and a 200 day simple moving average of $214.49. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.07.
Paycom Software (NYSE:PAYC) last released its earnings results on Tuesday, July 30th. The software maker reported $0.75 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.14. Paycom Software had a net margin of 23.93% and a return on equity of 38.25%. The business had revenue of $169.30 million for the quarter, compared to analysts’ expectations of $163.88 million. During the same period last year, the company earned $0.59 earnings per share. The company’s quarterly revenue was up 31.4% on a year-over-year basis. Equities research analysts forecast that Paycom Software Inc will post 2.74 earnings per share for the current fiscal year.
In related news, insider Jeffrey D. York sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $232.84, for a total value of $5,821,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Jon Evans sold 2,100 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $240.47, for a total transaction of $504,987.00. The disclosure for this sale can be found here. 16.09% of the stock is currently owned by company insiders.
About Paycom Software
Paycom Software, Inc provides cloud-based human capital management (HCM) software service for small to mid-sized companies in the United States. It provides functionality and data analytics that businesses need to manage the employment life cycle from recruitment to retirement. The company's HCM solution offers a suite of applications in the areas of talent acquisition, including applicant tracking, candidate tracker, background checks, on-boarding, e-verify, and tax credit services; and time and labor management, such as time and attendance, scheduling/schedule exchange, time-off requests, labor allocation, labor management reports/push reporting, and geofencing/geotracking.
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