Burleson & Company LLC purchased a new stake in Paycom Software, Inc. (NYSE:PAYC) during the 1st quarter, Holdings Channel.com reports. The fund purchased 150 shares of the software maker’s stock, valued at approximately $56,000.
A number of other hedge funds have also made changes to their positions in PAYC. Meeder Asset Management Inc. grew its stake in Paycom Software by 21.8% during the first quarter. Meeder Asset Management Inc. now owns 162 shares of the software maker’s stock worth $60,000 after buying an additional 29 shares during the period. Bell Bank boosted its position in Paycom Software by 0.7% during the 4th quarter. Bell Bank now owns 4,206 shares of the software maker’s stock worth $1,902,000 after purchasing an additional 30 shares during the period. Contravisory Investment Management Inc. increased its holdings in Paycom Software by 2.7% in the 1st quarter. Contravisory Investment Management Inc. now owns 1,148 shares of the software maker’s stock valued at $425,000 after purchasing an additional 30 shares in the last quarter. Clear Investment Research LLC raised its position in Paycom Software by 44.1% in the first quarter. Clear Investment Research LLC now owns 98 shares of the software maker’s stock valued at $36,000 after purchasing an additional 30 shares during the period. Finally, Parkside Financial Bank & Trust boosted its position in shares of Paycom Software by 7.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 503 shares of the software maker’s stock worth $227,000 after buying an additional 35 shares during the period. 72.16% of the stock is currently owned by hedge funds and other institutional investors.
NYSE PAYC opened at $335.41 on Friday. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.08 and a quick ratio of 1.08. Paycom Software, Inc. has a one year low of $257.87 and a one year high of $471.08. The firm has a 50-day simple moving average of $353.71. The firm has a market cap of $20.19 billion, a price-to-earnings ratio of 134.70, a PEG ratio of 4.66 and a beta of 1.39.
Paycom Software announced that its Board of Directors has authorized a share repurchase program on Thursday, May 13th that authorizes the company to repurchase $300.00 million in shares. This repurchase authorization authorizes the software maker to repurchase up to 1.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.
A number of equities analysts have weighed in on the company. Zacks Investment Research upgraded Paycom Software from a “sell” rating to a “hold” rating and set a $384.00 price target for the company in a report on Friday, March 19th. Royal Bank of Canada boosted their price objective on shares of Paycom Software from $430.00 to $470.00 and gave the stock an “outperform” rating in a report on Wednesday, May 5th. Credit Suisse Group raised their target price on Paycom Software from $415.00 to $420.00 and gave the company a “neutral” rating in a research note on Thursday, February 11th. Jefferies Financial Group raised Paycom Software from a “hold” rating to a “buy” rating and set a $470.00 price target for the company in a report on Friday, March 5th. Finally, Mizuho dropped their price objective on Paycom Software from $400.00 to $360.00 and set a “neutral” rating on the stock in a report on Wednesday, May 5th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $422.76.
In other Paycom Software news, CFO Craig E. Boelte sold 20,000 shares of the firm’s stock in a transaction on Thursday, April 15th. The stock was sold at an average price of $396.97, for a total value of $7,939,400.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 15.90% of the stock is owned by corporate insiders.
Paycom Software Profile
Paycom Software, Inc provides cloud-based human capital management (HCM) solution delivered as software-as-a-service for small to mid-sized companies in the United States. It offers functionality and data analytics that businesses need to manage the employment life cycle from recruitment to retirement.
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