Paycom Software, Inc. (PAYC) Shares Sold by Granahan Investment Management Inc. MA

Granahan Investment Management Inc. MA lowered its position in shares of Paycom Software, Inc. (NYSE:PAYC) by 67.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 104,546 shares of the software maker’s stock after selling 219,176 shares during the period. Granahan Investment Management Inc. MA’s holdings in Paycom Software were worth $6,012,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Norges Bank acquired a new position in shares of Paycom Software during the fourth quarter worth approximately $22,794,000. Thrivent Financial for Lutherans acquired a new position in shares of Paycom Software during the fourth quarter worth approximately $45,409,000. Congress Asset Management Co. MA acquired a new position in shares of Paycom Software during the fourth quarter worth approximately $510,000. Ladenburg Thalmann Financial Services Inc. raised its position in shares of Paycom Software by 144.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,201 shares of the software maker’s stock worth $146,000 after buying an additional 1,893 shares during the period. Finally, Guggenheim Capital LLC acquired a new position in shares of Paycom Software during the fourth quarter worth approximately $273,000. 90.50% of the stock is currently owned by institutional investors.

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

Shares of Paycom Software, Inc. (NYSE PAYC) traded up 2.13% on Monday, reaching $70.84. The company had a trading volume of 982,016 shares. The firm has a market cap of $4.10 billion, a P/E ratio of 82.66 and a beta of 1.77. Paycom Software, Inc. has a one year low of $38.94 and a one year high of $71.07. The company has a 50-day moving average price of $65.44 and a 200-day moving average price of $55.14.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings results on Tuesday, May 2nd. The software maker reported $0.44 EPS for the quarter, beating the consensus estimate of $0.37 by $0.07. Paycom Software had a net margin of 14.19% and a return on equity of 33.01%. The business had revenue of $119.51 million during the quarter, compared to analyst estimates of $115.70 million. On average, analysts expect that Paycom Software, Inc. will post $1.09 earnings per share for the current fiscal year.

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A number of research analysts have recently commented on the company. Jefferies Group LLC reissued a “buy” rating and set a $73.00 price target on shares of Paycom Software in a report on Thursday, June 8th. Zacks Investment Research lowered Paycom Software from a “buy” rating to a “hold” rating in a report on Monday, May 8th. Wells Fargo & Company assumed coverage on Paycom Software in a report on Thursday, May 11th. They set an “outperform” rating and a $75.00 price target on the stock. Stifel Nicolaus raised their price target on Paycom Software from $55.00 to $67.00 and gave the company a “buy” rating in a report on Wednesday, May 3rd. Finally, Wunderlich raised their price target on Paycom Software from $62.00 to $73.00 and gave the company a “buy” rating in a report on Wednesday, May 3rd. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $61.42.

In other news, insider Jeffrey D. York sold 40,000 shares of the business’s stock in a transaction dated Monday, April 17th. The shares were sold at an average price of $58.01, for a total value of $2,320,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 17.90% of the company’s stock.

About Paycom Software

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “PAYC”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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