Century Capital Management LLC Reduces Position in Paycom Software Inc (PAYC)

Century Capital Management LLC reduced its stake in shares of Paycom Software Inc (NYSE:PAYC) by 44.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 74,412 shares of the software maker’s stock after selling 60,351 shares during the period. Century Capital Management LLC’s holdings in Paycom Software were worth $4,279,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. State Board of Administration of Florida Retirement System raised its stake in shares of Paycom Software by 0.7% in the first quarter. State Board of Administration of Florida Retirement System now owns 20,715 shares of the software maker’s stock valued at $1,191,000 after buying an additional 140 shares during the period. Sapphire Star Partners LP raised its position in Paycom Software by 3.6% in the first quarter. Sapphire Star Partners LP now owns 11,338 shares of the software maker’s stock worth $652,000 after buying an additional 392 shares during the last quarter. Teachers Advisors LLC raised its position in Paycom Software by 0.8% in the third quarter. Teachers Advisors LLC now owns 70,954 shares of the software maker’s stock worth $3,557,000 after buying an additional 595 shares during the last quarter. Navellier & Associates Inc raised its position in Paycom Software by 4.1% in the first quarter. Navellier & Associates Inc now owns 18,985 shares of the software maker’s stock worth $1,092,000 after buying an additional 740 shares during the last quarter. Finally, Swiss National Bank raised its position in Paycom Software by 1.2% in the first quarter. Swiss National Bank now owns 69,597 shares of the software maker’s stock worth $4,003,000 after buying an additional 800 shares during the last quarter. Institutional investors and hedge funds own 76.40% of the company’s stock.

Institutional Ownership by Quarter for Paycom Software (NYSE:PAYC)

Paycom Software Inc (NYSE:PAYC) traded up 1.04% during trading on Friday, reaching $64.89. 673,177 shares of the company’s stock traded hands. The firm has a 50 day moving average of $60.95 and a 200 day moving average of $51.91. The firm has a market capitalization of $3.76 billion, a PE ratio of 75.72 and a beta of 1.71. Paycom Software Inc has a 1-year low of $38.32 and a 1-year high of $65.76.

Paycom Software (NYSE:PAYC) last released its quarterly earnings results on Tuesday, May 2nd. The software maker reported $0.44 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.07. Paycom Software had a net margin of 13.32% and a return on equity of 28.63%. The company had revenue of $119.51 million for the quarter, compared to analysts’ expectations of $115.70 million. Equities analysts forecast that Paycom Software Inc will post $1.09 EPS for the current year.

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A number of equities analysts recently weighed in on the stock. Jefferies Group LLC boosted their price target on shares of Paycom Software from $69.00 to $73.00 and gave the stock a “buy” rating in a research report on Wednesday, May 3rd. Stifel Nicolaus boosted their price target on shares of Paycom Software from $55.00 to $67.00 and gave the stock a “buy” rating in a research report on Wednesday, May 3rd. TheStreet upgraded shares of Paycom Software from a “c” rating to a “b+” rating in a research report on Monday, April 17th. Zacks Investment Research lowered shares of Paycom Software from a “buy” rating to a “hold” rating in a research report on Monday, May 8th. Finally, Wells Fargo & Co assumed coverage on shares of Paycom Software in a research report on Thursday, May 11th. They set an “outperform” rating and a $75.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $61.42.

In other Paycom Software news, insider Jeffrey D. York sold 40,000 shares of the firm’s stock in a transaction dated Monday, April 17th. The shares were sold at an average price of $58.01, for a total transaction of $2,320,400.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robert J. Levenson sold 25,000 shares of the firm’s stock in a transaction dated Monday, March 13th. The stock was sold at an average price of $55.87, for a total transaction of $1,396,750.00. Following the sale, the director now directly owns 175,000 shares in the company, valued at $9,777,250. The disclosure for this sale can be found here. 18.70% of the stock is owned by company insiders.

Paycom Software Company Profile

Paycom Software, Inc is a provider of a cloud-based human capital management (HCM) software solution delivered as Software-as-a-Service (SaaS). The Company provides functionality and data analytics that businesses need to manage the complete employment life cycle from recruitment to retirement. The Company’s applications streamline client processes and provide clients and their employees with the ability to directly access and manage administrative processes, including applications that identify candidates, on-board employees, manage time and labor, administer payroll deductions and benefits, manage performance, terminate employees and administer post-termination health benefits, such as COBRA.

12 Month Chart for NYSE:PAYC

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