Procyon Advisors LLC increased its position in Paycom Software, Inc. (NYSE: PAYC – Get Rating) by 11.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 1,724 shares of the software maker’s stock after acquiring an additional 176 shares during the quarter. Procyon Advisors LLC’s holdings in Paycom Software were worth $ 597,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Archford Capital Strategies LLC boosted its stake in Paycom Software by 3.9% in the 1st quarter. Archford Capital Strategies LLC now owns 13,443 shares of the software maker’s stock worth $ 4,761,000 after purchasing an additional 503 shares during the period. IFM Investors Pty Ltd boosted its position in shares of Paycom Software by 17.2% during the 1st quarter. IFM Investors Pty Ltd now owns 8,378 shares of the software maker’s stock valued at $ 2,902,000 after acquiring an additional 1,230 shares during the last quarter. Paradiem LLC boosted its position in shares of Paycom Software by 1.3% during the 1st quarter. Paradiem LLC now owns 10,142 shares of the software maker’s stock valued at $ 3,283,000 after acquiring an additional 126 shares during the last quarter. YorkBridge Wealth Partners LLC lifted its position in Paycom Software by 12.6% in the 1st quarter. YorkBridge Wealth Partners LLC now owns 1,052 shares of the software maker’s stock worth $ 364,000 after buying an additional 118 shares during the last quarter. Finally, Baldwin Brothers LLC MA bought a new stake in Paycom Software in the 1st quarter worth approximately $ 69,000. Institutional investors and hedge funds own 87.12% of the company stock.
PAYC has been the subject of a number of recent research reports. Barclays dropped their target price on Paycom Software from $ 380.00 to $ 328.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 19th. TheStreet downgraded Paycom Software from a “b-” rating to a “c +” rating in a research report on Monday, May 2nd. KeyCorp decreased their price target on Paycom Software from $ 400.00 to $ 340.00 and set an “overweight” rating on the stock in a research note on Thursday, June 23rd. Deutsche Bank Aktiengesellschaft decreased their price target on Paycom Software from $ 450.00 to $ 425.00 in a research note on Wednesday, May 4th. Finally, Jefferies Financial Group decreased their price target on Paycom Software from $ 400.00 to $ 335.00 in a research note on Monday, May 23rd. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $ 381.77.
NYSE PAYC opened at $ 300.08 on Tuesday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.03. Paycom Software, Inc. has a twelve month low of $ 255.82 and a twelve month high of $ 558.97. The firm has a market capitalization of $ 18.08 billion, a PE ratio of 78.15, a P / E / G ratio of 2.85 and a beta of 1.54. The stock’s 50 day moving average is $ 287.34 and its 200 day moving average is $ 326.44.
Paycom Software (NYSE: PAYC – Get Rating) last released its quarterly earnings results on Tuesday, May 3rd. The software maker reported $ 1.56 earnings per share for the quarter, beating the consensus estimate of $ 1.42 by $ 0.14. Paycom Software had a return on equity of 25.12% and a net margin of 19.64%. The company had revenue of $ 353.52 million for the quarter, compared to analyst estimates of $ 343.20 million. During the same period in the previous year, the company posted $ 1.10 earnings per share. The firm’s revenue was up 29.9% on a year-over-year basis. On average, research analysts anticipate that Paycom Software, Inc. will post 4.3 earnings per share for the current year.
Paycom Software announced that its board has approved a share repurchase plan on Tuesday, June 7th that permits the company to buyback $ 550.00 million in shares. This buyback authorization permits the software maker to reacquire up to 3% of its stock through open market purchases. Stock buyback plans are usually an indication that the company board believes its shares are undervalued.
In other news, EVP Justin Devon Long sold 151 shares of the company stock in a transaction on Wednesday, May 11th. The stock was sold at an average price of $ 275.23, for a total transaction of $ 41,559.73. Following the transaction, the executive vice president now directly owns 2,956 shares of the company stock, valued at $ 813,579.88. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Holly Faurot sold 194 shares of the company stock in a transaction on Monday, May 9th. The shares were sold at an average price of $ 280.32, for a total value of $ 54,382.08. Following the transaction, the insider now directly owns 45,180 shares in the company, valued at $ 12,664,857.60. The disclosure for this sale can be found here. Insiders have sold 19,721 shares of company stock worth $ 5,441,538 over the last 90 days. 15.20% of the stock is currently owned by corporate insiders.
Paycom Software Profile: (Get Rating)
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.
Want to see what other hedge funds are holding PAYC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Paycom Software, Inc. (NYSE: PAYC – Get Rating).
Receive News & Ratings for Paycom Software Daily: – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Paycom Software and related companies with MarketBeat.com’s FREE daily email newsletter.