Alpine Group USVI LLC bought a new position in Paycom Software Inc (NYSE:PAYC) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 2,113 shares of the software maker’s stock, valued at approximately $443,000.
A number of other large investors have also modified their holdings of PAYC. BlackRock Inc. raised its position in Paycom Software by 27.0% in the 2nd quarter. BlackRock Inc. now owns 2,825,982 shares of the software maker’s stock worth $640,705,000 after buying an additional 600,640 shares during the last quarter. Vanguard Group Inc. raised its position in Paycom Software by 14.0% in the 2nd quarter. Vanguard Group Inc. now owns 4,854,474 shares of the software maker’s stock worth $1,100,606,000 after buying an additional 597,590 shares during the last quarter. Nuveen Asset Management LLC purchased a new position in Paycom Software in the 2nd quarter worth about $68,278,000. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in Paycom Software in the 2nd quarter worth about $43,511,000. Finally, Balyasny Asset Management LLC purchased a new position in Paycom Software in the 2nd quarter worth about $32,660,000. 72.74% of the stock is owned by institutional investors and hedge funds.
PAYC has been the subject of a number of recent analyst reports. ValuEngine lowered Paycom Software from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Northland Securities reissued a “buy” rating and issued a $275.00 target price on shares of Paycom Software in a research report on Tuesday, September 24th. Jefferies Financial Group lowered Paycom Software from a “buy” rating to a “hold” rating and set a $233.00 target price for the company. in a research report on Friday, July 19th. Zacks Investment Research raised Paycom Software from a “hold” rating to a “buy” rating and set a $259.00 target price for the company in a research report on Wednesday, August 21st. Finally, Bank of America reissued a “neutral” rating and issued a $250.00 target price (up previously from $215.00) on shares of Paycom Software in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $226.79.
Paycom Software (NYSE:PAYC) last released its quarterly earnings results on Tuesday, July 30th. The software maker reported $0.75 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.14. The business had revenue of $169.30 million during the quarter, compared to the consensus estimate of $163.88 million. Paycom Software had a return on equity of 38.25% and a net margin of 23.93%. The business’s quarterly revenue was up 31.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.59 EPS. Sell-side analysts anticipate that Paycom Software Inc will post 2.75 earnings per share for the current year.
In other Paycom Software news, insider Jeffrey D. York sold 25,000 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $232.84, for a total transaction of $5,821,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 16.09% of the company’s stock.
About Paycom Software
Paycom Software, Inc provides cloud-based human capital management (HCM) software service for small to mid-sized companies in the United States. It provides functionality and data analytics that businesses need to manage the employment life cycle from recruitment to retirement. The company's HCM solution offers a suite of applications in the areas of talent acquisition, including applicant tracking, candidate tracker, background checks, on-boarding, e-verify, and tax credit services; and time and labor management, such as time and attendance, scheduling/schedule exchange, time-off requests, labor allocation, labor management reports/push reporting, and geofencing/geotracking.
Further Reading: Understanding the Price to Earnings Ratio (PE)
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