Oppenheimer & Co. Inc. lifted its holdings in shares of Paycom Software, Inc. (NYSE:PAYC – Get Rating) by 18.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,599 shares of the software maker’s stock after buying an additional 406 shares during the period. Oppenheimer & Co. Inc.’s holdings in Paycom Software were worth $900,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of PAYC. Capital Research Global Investors boosted its position in Paycom Software by 21.8% in the fourth quarter. Capital Research Global Investors now owns 1,988,938 shares of the software maker’s stock worth $825,787,000 after purchasing an additional 356,545 shares during the last quarter. Aaron Wealth Advisors LLC boosted its position in Paycom Software by 24,086.8% in the first quarter. Aaron Wealth Advisors LLC now owns 168,340 shares of the software maker’s stock worth $486,000 after purchasing an additional 167,644 shares during the last quarter. Waratah Capital Advisors Ltd. boosted its position in Paycom Software by 595.2% in the first quarter. Waratah Capital Advisors Ltd. now owns 166,463 shares of the software maker’s stock worth $57,659,000 after purchasing an additional 142,518 shares during the last quarter. Fiera Capital Corp boosted its position in Paycom Software by 1,366.0% in the first quarter. Fiera Capital Corp now owns 128,256 shares of the software maker’s stock worth $44,426,000 after purchasing an additional 119,507 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in Paycom Software by 236.0% in the fourth quarter. Renaissance Technologies LLC now owns 148,350 shares of the software maker’s stock worth $61,593,000 after purchasing an additional 104,200 shares during the last quarter. 74.43% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
PAYC has been the topic of several research reports. Stifel Nicolaus raised their target price on Paycom Software from $375.00 to $400.00 in a research report on Wednesday, August 3rd. Citigroup assumed coverage on Paycom Software in a research report on Thursday. They issued a “buy” rating and a $457.00 target price on the stock. Jefferies Financial Group reaffirmed a “buy” rating and set a $335.00 price objective on shares of Paycom Software in a research report on Wednesday, August 3rd. Wolfe Research lifted their price objective on Paycom Software from $375.00 to $400.00 and gave the company an “outperform” rating in a research report on Thursday, August 4th. Finally, KeyCorp lifted their price objective on Paycom Software from $390.00 to $432.00 and gave the company an “overweight” rating in a research report on Monday, August 15th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Paycom Software presently has a consensus rating of “Moderate Buy” and an average price target of $390.67.
Paycom Software Stock Performance
NYSE:PAYC opened at $344.46 on Friday. 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 1 year low of $255.82 and a 1 year high of $558.97. The stock’s 50 day simple moving average is $335.81 and its two-hundred day simple moving average is $318.28. The company has a market cap of $20.68 billion, a price-to-earnings ratio of 87.65, a PEG ratio of 3.14 and a beta of 1.50.
Paycom Software (NYSE:PAYC – Get Rating) last released its quarterly earnings data on Tuesday, August 2nd. The software maker reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.03. Paycom Software had a return on equity of 23.38% and a net margin of 18.85%. The business had revenue of $316.92 million for the quarter, compared to the consensus estimate of $309.17 million. As a group, equities analysts anticipate that Paycom Software, Inc. will post 4.48 earnings per share for the current fiscal year.
Paycom Software declared that its board has authorized a stock buyback plan on Tuesday, June 7th that authorizes the company to buyback $550.00 million in outstanding shares. This buyback authorization authorizes the software maker to reacquire up to 3% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.
Insiders Place Their Bets
In other Paycom Software news, Director Frederick C. Peters II sold 1,000 shares of Paycom Software stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $371.17, for a total value of $371,170.00. Following the sale, the director now owns 15,778 shares of the company’s stock, valued at approximately $5,856,320.26. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 15.20% of the company’s stock.
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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