Citigroup Inc. Raises Position in Paycom Software, Inc. (PAYC)
Citigroup Inc. lifted its stake in Paycom Software, Inc. (NYSE:PAYC) by 0.3% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 111,650 shares of the software maker’s stock after purchasing an additional 282 shares during the period. Citigroup Inc. owned 0.19% of Paycom Software worth $7,638,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Swiss National Bank grew its holdings in shares of Paycom Software by 1.2% in the 1st quarter. Swiss National Bank now owns 69,597 shares of the software maker’s stock valued at $4,003,000 after buying an additional 800 shares during the period. Raymond James Financial Services Advisors Inc. lifted its position in Paycom Software by 4.2% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 9,403 shares of the software maker’s stock valued at $541,000 after acquiring an additional 376 shares in the last quarter. Alps Advisors Inc. lifted its position in Paycom Software by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 8,542 shares of the software maker’s stock valued at $584,000 after acquiring an additional 22 shares in the last quarter. Ameritas Investment Partners Inc. bought a new stake in Paycom Software in the 1st quarter valued at $219,000. Finally, Federated Investors Inc. PA lifted its position in Paycom Software by 372.3% in the 2nd quarter. Federated Investors Inc. PA now owns 70,163 shares of the software maker’s stock valued at $4,800,000 after acquiring an additional 55,308 shares in the last quarter. 86.05% of the stock is owned by institutional investors and hedge funds.
In related news, insider Stacey M. Pezold sold 10,000 shares of the firm’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $75.02, for a total value of $750,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Craig E. Boelte sold 11,000 shares of the firm’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $74.72, for a total transaction of $821,920.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 61,000 shares of company stock valued at $4,249,320. Insiders own 17.90% of the company’s stock.
Paycom Software, Inc. (NYSE PAYC) opened at 75.4702 on Friday. The stock has a 50 day moving average of $72.34 and a 200 day moving average of $65.84. The stock has a market cap of $4.37 billion, a P/E ratio of 81.8549 and a beta of 1.75. Paycom Software, Inc. has a 1-year low of $39.15 and a 1-year high of $75.57.
Paycom Software (NYSE:PAYC) last released its earnings results on Tuesday, August 1st. The software maker reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.11. Paycom Software had a net margin of 14.28% and a return on equity of 35.77%. The company had revenue of $98.20 million for the quarter, compared to analysts’ expectations of $95.98 million. During the same quarter last year, the business earned $0.21 EPS. The firm’s revenue was up 32.9% compared to the same quarter last year. Equities analysts anticipate that Paycom Software, Inc. will post $1.15 EPS for the current fiscal year.
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Several equities research analysts recently commented on the stock. Northland Securities initiated coverage on shares of Paycom Software in a research report on Thursday. They issued an “outperform” rating and a $85.00 price objective on the stock. Barclays PLC upped their target price on shares of Paycom Software from $74.00 to $82.00 and gave the company an “overweight” rating in a report on Wednesday, September 13th. Robert W. Baird reaffirmed a “buy” rating and issued a $78.00 target price on shares of Paycom Software in a report on Tuesday, September 12th. Zacks Investment Research cut shares of Paycom Software from a “buy” rating to a “hold” rating in a report on Friday, August 25th. Finally, BidaskClub upgraded shares of Paycom Software from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 24th. Four equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $76.63.
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.
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