Ameriprise Financial Inc. lowered its position in Paycom Software Inc. (NYSE:PAYC) by 8.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 215,475 shares of the company’s stock after selling 18,888 shares during the period. Ameriprise Financial Inc. owned about 0.37% of Paycom Software worth $9,304,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Envestnet Asset Management Inc. increased its stake in Paycom Software by 83.7% in the first quarter. Envestnet Asset Management Inc. now owns 3,673 shares of the company’s stock worth $131,000 after buying an additional 1,673 shares in the last quarter. Pinnacle Financial Partners Inc. bought a new stake in Paycom Software during the second quarter worth approximately $231,000. Bayesian Capital Management LP increased its stake in Paycom Software by 30.6% in the first quarter. Bayesian Capital Management LP now owns 9,663 shares of the company’s stock worth $344,000 after buying an additional 2,265 shares in the last quarter. Commonwealth Equity Services Inc bought a new stake in Paycom Software during the first quarter worth approximately $356,000. Finally, Cambridge Investment Research Advisors Inc. bought a new stake in Paycom Software during the second quarter worth approximately $433,000. Institutional investors and hedge funds own 80.42% of the company’s stock.
Shares of Paycom Software Inc. (NYSE:PAYC) traded down 1.04% during trading on Monday, reaching $49.61. 149,017 shares of the company traded hands. Paycom Software Inc. has a 12 month low of $22.42 and a 12 month high of $52.93. The firm has a 50-day moving average price of $50.10 and a 200-day moving average price of $43.09. The firm has a market capitalization of $2.86 billion, a PE ratio of 77.64 and a beta of 2.02.
Paycom Software (NYSE:PAYC) last released its earnings results on Tuesday, August 2nd. The company reported $0.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.08. The firm had revenue of $73.88 million for the quarter, compared to analysts’ expectations of $70.34 million. Paycom Software had a net margin of 13.36% and a return on equity of 33.66%. Paycom Software’s quarterly revenue was up 50.9% on a year-over-year basis. During the same quarter last year, the company earned $0.10 EPS. Equities research analysts anticipate that Paycom Software Inc. will post $0.77 EPS for the current year.
PAYC has been the topic of a number of research analyst reports. Canaccord Genuity reissued a “buy” rating and set a $55.00 price objective on shares of Paycom Software in a report on Thursday, August 4th. Stifel Nicolaus boosted their price objective on shares of Paycom Software from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, August 3rd. Wunderlich boosted their price objective on shares of Paycom Software from $50.00 to $57.00 and gave the stock a “buy” rating in a report on Wednesday, August 3rd. Barclays PLC reissued a “buy” rating on shares of Paycom Software in a report on Sunday, July 17th. Finally, Zacks Investment Research raised shares of Paycom Software from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock 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. The company has an average rating of “Buy” and an average target price of $52.38.
In other news, insider William X. Kerber III sold 55,000 shares of the firm’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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Stacey M. Pezold sold 40,000 shares of the firm’s stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $50.01, for a total transaction of $2,000,400.00. The disclosure for this sale can be found here. Company 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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