Fulton Bank N.A. increased its stake in Paycom Software, Inc. (NYSE:PAYC) by 4.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,934 shares of the software maker’s stock after purchasing an additional 119 shares during the period. Fulton Bank N.A.’s holdings in Paycom Software were worth $1,086,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. MUFG Americas Holdings Corp purchased a new stake in Paycom Software during the fourth quarter valued at about $25,000. Ancora Advisors LLC bought a new position in Paycom Software during the fourth quarter valued at approximately $25,000. BDO Wealth Advisors LLC bought a new stake in Paycom Software in the fourth quarter worth $29,000. Patriot Financial Group Insurance Agency LLC bought a new position in shares of Paycom Software during the fourth quarter valued at about $40,000. Finally, Regent Peak Wealth Advisors LLC bought a new stake in shares of Paycom Software in the 4th quarter valued at about $43,000. 74.20% of the stock is currently owned by institutional investors and hedge funds.
PAYC has been the subject of several recent research reports. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell boosted their price objective on Paycom Software from $457.00 to $513.00 in a research report on Tuesday, December 22nd. Credit Suisse Group raised their price target on shares of Paycom Software from $415.00 to $420.00 and gave the stock a “neutral” rating in a report on Thursday, February 11th. Smith Barney Citigroup upped their price objective on shares of Paycom Software from $457.00 to $513.00 in a research note on Tuesday, December 22nd. Barclays raised their target price on Paycom Software from $378.00 to $460.00 and gave the stock an “equal weight” rating in a research note on Monday, January 11th. Finally, Jefferies Financial Group upgraded shares of Paycom Software from a “hold” rating to a “buy” rating and set a $470.00 price objective for the company in a report on Thursday, March 11th. Seven research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $416.17.
Paycom Software (NYSE:PAYC) last announced its earnings results on Wednesday, February 10th. The software maker reported $0.84 EPS for the quarter, topping the Zacks’ consensus estimate of $0.79 by $0.05. The company had revenue of $220.95 million for the quarter, compared to analysts’ expectations of $213.57 million. Paycom Software had a return on equity of 26.72% and a net margin of 20.21%. Paycom Software’s revenue for the quarter was up 14.2% compared to the same quarter last year. During the same period last year, the firm earned $0.86 EPS. As a group, research analysts expect that Paycom Software, Inc. will post 2.5 EPS for the current fiscal year.
In other Paycom Software news, CFO Craig E. Boelte sold 8,000 shares of Paycom Software stock in a transaction that occurred on Friday, January 15th. The shares were sold at an average price of $406.41, for a total transaction of $3,251,280.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 16.10% of the company’s stock.
Paycom Software Company Profile
Paycom Software, Inc provides cloud-based human capital management (HCM) solution delivered as software-as-a-service for small to mid-sized companies in the United States. It offers functionality and data analytics that businesses need to manage the employment life cycle from recruitment to retirement.
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