Teacher Retirement System of Texas increased its stake in Paycom Software Inc. (NYSE:PAYC) by 13.7% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,793 shares of the company’s stock after buying an additional 699 shares during the period. Teacher Retirement System of Texas’ holdings in Paycom Software were worth $250,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the company. Pinnacle Financial Partners Inc. bought a new stake in shares of Paycom Software during the second quarter valued at approximately $231,000. Bayesian Capital Management LP boosted its stake in shares of Paycom Software by 30.6% in the first quarter. Bayesian Capital Management LP now owns 9,663 shares of the company’s stock valued at $344,000 after buying an additional 2,265 shares during the last quarter. Commonwealth Equity Services Inc bought a new stake in shares of Paycom Software during the first quarter valued at approximately $356,000. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Paycom Software during the second quarter valued at approximately $433,000. Finally, Sapphire Star Partners LP boosted its stake in shares of Paycom Software by 100.0% in the first quarter. Sapphire Star Partners LP now owns 12,772 shares of the company’s stock valued at $480,000 after buying an additional 6,386 shares during the last quarter. Institutional investors and hedge funds own 80.38% of the company’s stock.
Paycom Software Inc. (NYSE:PAYC) opened at 49.82 on Tuesday. The firm has a 50-day moving average of $49.93 and a 200-day moving average of $44.41. The company has a market capitalization of $2.87 billion, a P/E ratio of 77.97 and a beta of 2.02. Paycom Software Inc. has a 52 week low of $22.42 and a 52 week high of $52.93.
Paycom Software (NYSE:PAYC) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.08. The business had revenue of $73.88 million for the quarter, compared to the consensus estimate of $70.34 million. Paycom Software had a net margin of 13.36% and a return on equity of 33.66%. The business’s revenue was up 50.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.10 EPS. Analysts anticipate that Paycom Software Inc. will post $0.77 EPS for the current fiscal year.
Several brokerages have commented on PAYC. Jefferies Group reiterated a “hold” rating and issued a $58.00 price target (up previously from $50.00) on shares of Paycom Software in a research note on Thursday, August 4th. Barclays PLC upped their target price on shares of Paycom Software from $44.00 to $51.00 and gave the company an “overweight” rating in a research report on Friday, July 15th. Zacks Investment Research upgraded shares of Paycom Software from a “hold” rating to a “buy” rating and set a $57.00 target price on the stock in a research report on Friday, August 5th. Wunderlich restated a “buy” rating on shares of Paycom Software in a research report on Wednesday, July 6th. Finally, Stifel Nicolaus upped their target price on shares of Paycom Software from $50.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, August 3rd. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $52.38.
In related news, CFO Craig E. Boelte sold 40,000 shares of Paycom Software stock in a transaction that occurred on Tuesday, August 30th. The shares were sold at an average price of $51.29, for a total value of $2,051,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider William X. Kerber III sold 55,000 shares of Paycom Software stock in a transaction that occurred on 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. 18.70% of the stock is currently owned by corporate insiders.
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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