BNP Paribas Arbitrage SA boosted its stake in Paycom Software Inc. (NYSE:PAYC) by 114.4% during the third quarter, Holdings Channel reports. The institutional investor owned 3,683 shares of the company’s stock after buying an additional 1,965 shares during the period. BNP Paribas Arbitrage SA’s holdings in Paycom Software were worth $185,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PAYC. Tower Research Capital LLC TRC raised its position in Paycom Software by 2,376.0% in the second quarter. Tower Research Capital LLC TRC now owns 2,476 shares of the company’s stock valued at $107,000 after buying an additional 2,376 shares in the last quarter. Royal Bank of Canada raised its position in Paycom Software by 34.8% in the second quarter. Royal Bank of Canada now owns 2,826 shares of the company’s stock valued at $122,000 after buying an additional 730 shares in the last quarter. BlackRock Inc. raised its position in Paycom Software by 96.8% in the second quarter. BlackRock Inc. now owns 4,320 shares of the company’s stock valued at $187,000 after buying an additional 2,125 shares in the last quarter. Pinnacle Financial Partners Inc. purchased a new position in Paycom Software during the second quarter valued at approximately $231,000. Finally, ProShare Advisors LLC purchased a new position in Paycom Software during the second quarter valued at approximately $233,000. Institutional investors and hedge funds own 80.42% of the company’s stock.
Shares of Paycom Software Inc. (NYSE:PAYC) opened at 49.91 on Friday. The stock’s 50 day moving average price is $49.98 and its 200-day moving average price is $43.57. Paycom Software Inc. has a 52-week low of $22.42 and a 52-week high of $52.93. The firm has a market cap of $2.87 billion, a PE ratio of 78.11 and a beta of 2.01.
Paycom Software (NYSE:PAYC) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.08. Paycom Software had a net margin of 13.36% and a return on equity of 33.66%. The firm earned $73.88 million during the quarter, compared to analysts’ expectations of $70.34 million. During the same period in the prior year, the company earned $0.10 EPS. The firm’s revenue was up 50.9% on a year-over-year basis. On average, equities research analysts anticipate that Paycom Software Inc. will post $0.77 earnings per share for the current fiscal year.
PAYC has been the subject of several research analyst reports. Canaccord Genuity restated a “buy” rating and set a $55.00 price target on shares of Paycom Software in a research report on Thursday, August 4th. Stifel Nicolaus lifted their target price on Paycom Software from $50.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, August 3rd. Wunderlich lifted their target price on Paycom Software from $50.00 to $57.00 and gave the company a “buy” rating in a report on Wednesday, August 3rd. Barclays PLC reiterated a “buy” rating on shares of Paycom Software in a report on Sunday, July 17th. Finally, Zacks Investment Research upgraded Paycom Software from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a report on Friday, August 5th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Paycom Software presently has an average rating of “Buy” and a consensus price target of $52.38.
In other Paycom Software news, CFO Craig E. Boelte sold 40,000 shares of the company’s stock in a transaction dated Tuesday, August 30th. The shares were sold at an average price of $51.29, for a total value of $2,051,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider William X. Kerber III sold 55,000 shares of the company’s stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $52.08, for a total transaction of $2,864,400.00. The disclosure for this sale can be found here. Corporate insiders own 18.70% of the company’s stock.
About Paycom Software
Paycom Software, Inc (Paycom) is a provider of cloud-based human capital management (HCM) software solution delivered as software as a service (SaaS). The Company’s solution is based on a system of record maintained in a single database for all HCM functions, including talent acquisition, time and labor management, payroll, talent management and human resources (HR) management applications.
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