Riverbridge Partners LLC lifted its stake in shares of Paycom Software Inc (NYSE:PAYC) by 0.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 389,342 shares of the software maker’s stock after purchasing an additional 3,344 shares during the quarter. Paycom Software comprises 1.5% of Riverbridge Partners LLC’s investment portfolio, making the stock its 25th biggest holding. Riverbridge Partners LLC owned about 0.67% of Paycom Software worth $81,563,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently added to or reduced their stakes in PAYC. BlackRock Inc. raised its holdings in shares of Paycom Software by 27.0% in the 2nd quarter. BlackRock Inc. now owns 2,825,982 shares of the software maker’s stock worth $640,705,000 after acquiring an additional 600,640 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Paycom Software by 14.0% in the 2nd quarter. Vanguard Group Inc. now owns 4,854,474 shares of the software maker’s stock worth $1,100,606,000 after acquiring an additional 597,590 shares during the last quarter. Nuveen Asset Management LLC acquired a new stake in shares of Paycom Software in the 2nd quarter worth about $68,278,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in shares of Paycom Software in the 2nd quarter worth about $43,511,000. Finally, Balyasny Asset Management LLC purchased a new stake in Paycom Software in the 2nd quarter valued at about $32,660,000. 72.74% of the stock is currently owned by institutional investors.
Several equities research analysts have commented on PAYC shares. Needham & Company LLC increased their price objective on shares of Paycom Software from $230.00 to $280.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Bank of America reiterated a “neutral” rating and issued a $250.00 price objective (up previously from $215.00) on shares of Paycom Software in a research note on Wednesday, July 31st. Jefferies Financial Group lowered shares of Paycom Software from a “buy” rating to a “hold” rating and set a $233.00 price objective for the company. in a research note on Friday, July 19th. Credit Suisse Group increased their price objective on shares of Paycom Software from $190.00 to $235.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. They noted that the move was a valuation call. Finally, Northland Securities reiterated a “buy” rating and issued a $275.00 price objective on shares of Paycom Software in a research note on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company’s stock. Paycom Software has an average rating of “Hold” and a consensus target price of $226.79.
In other 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 transaction of $5,821,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 16.09% of the company’s stock.
Shares of PAYC stock opened at $220.03 on Friday. The company has a 50 day moving average of $226.00 and a 200-day moving average of $218.37. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.07. Paycom Software Inc has a 12-month low of $107.46 and a 12-month high of $259.71. The firm has a market cap of $12.58 billion, a P/E ratio of 100.93, a PEG ratio of 2.84 and a beta of 1.38.
Paycom Software (NYSE:PAYC) last issued its quarterly 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 company had revenue of $169.30 million during the quarter, compared to analyst estimates of $163.88 million. During the same quarter last year, the business posted $0.59 EPS. Paycom Software’s quarterly revenue was up 31.4% compared to the same quarter last year. As a group, equities analysts expect that Paycom Software Inc will post 2.75 EPS for the current year.
Paycom Software Company Profile
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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