Cambridge Investment Research Advisors Inc. grew its holdings in shares of Paycom Software, Inc. (NYSE:PAYC – Get Rating) by 10.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,451 shares of the software maker’s stock after purchasing an additional 767 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Paycom Software were worth $2,927,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in PAYC. Allworth Financial LP raised its holdings in shares of Paycom Software by 157.1% during the 1st quarter. Allworth Financial LP now owns 108 shares of the software maker’s stock worth $37,000 after acquiring an additional 66 shares during the period. Covestor Ltd purchased a new stake in Paycom Software in the 4th quarter valued at about $54,000. Fairfield Bush & CO. purchased a new stake in Paycom Software in the 1st quarter valued at about $48,000. Quadrant Capital Group LLC raised its holdings in Paycom Software by 58.3% in the 1st quarter. Quadrant Capital Group LLC now owns 152 shares of the software maker’s stock valued at $53,000 after buying an additional 56 shares during the period. Finally, Confluence Wealth Services Inc. purchased a new stake in Paycom Software in the 4th quarter valued at about $63,000. Institutional investors and hedge funds own 74.43% of the company’s stock.
Insider Activity at Paycom Software
In related news, Director Frederick C. Peters II sold 1,000 shares of the firm’s stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $371.17, for a total transaction of $371,170.00. Following the sale, the director now directly owns 15,778 shares in the company, valued at approximately $5,856,320.26. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 15.20% of the company’s stock.
Paycom Software Stock Performance
Paycom Software stock opened at $344.46 on Friday. The stock’s 50-day moving average is $335.81 and its 200-day moving average is $318.28. The company has a market cap of $20.68 billion, a price-to-earnings ratio of 87.65, a price-to-earnings-growth ratio of 3.14 and a beta of 1.50. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.08 and a quick ratio of 1.08. Paycom Software, Inc. has a 12 month low of $255.82 and a 12 month high of $558.97.
Paycom Software (NYSE:PAYC – Get Rating) last released its quarterly earnings data on Tuesday, August 2nd. The software maker reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.03. The company had revenue of $316.92 million for the quarter, compared to the consensus estimate of $309.17 million. Paycom Software had a return on equity of 23.38% and a net margin of 18.85%. Equities analysts anticipate that Paycom Software, Inc. will post 4.48 earnings per share for the current year.
Paycom Software announced that its Board of Directors has authorized a share repurchase plan on Tuesday, June 7th that allows the company to buyback $550.00 million in shares. This buyback authorization allows the software maker to reacquire up to 3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its shares are undervalued.
Analyst Ratings Changes
PAYC has been the topic of several research analyst reports. Jefferies Financial Group restated a “buy” rating and issued a $335.00 price objective on shares of Paycom Software in a report on Wednesday, August 3rd. KeyCorp lifted their target price on Paycom Software from $390.00 to $432.00 and gave the company an “overweight” rating in a research report on Monday, August 15th. Barclays lifted their target price on Paycom Software to $339.00 in a research report on Tuesday, August 9th. Stifel Nicolaus boosted their price objective on Paycom Software from $375.00 to $400.00 in a research report on Wednesday, August 3rd. Finally, Citigroup assumed coverage on Paycom Software in a research report on Thursday. They set a “buy” rating and a $457.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Paycom Software presently has an average rating of “Moderate Buy” and an average price target of $390.67.
Paycom Software Company 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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