Concorde Asset Management LLC Buys Shares of 3,388 Paycom Software, Inc. (PAYC)
Concorde Asset Management LLC purchased a new position in shares of Paycom Software, Inc. (NYSE:PAYC) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 3,388 shares of the software maker’s stock, valued at approximately $254,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Eqis Capital Management Inc. boosted its stake in Paycom Software by 13.8% during the 3rd quarter. Eqis Capital Management Inc. now owns 5,676 shares of the software maker’s stock valued at $425,000 after purchasing an additional 687 shares during the period. Alps Advisors Inc. raised its holdings in shares of Paycom Software by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 8,542 shares of the software maker’s stock worth $584,000 after buying an additional 22 shares in the last quarter. Mutual of America Capital Management LLC raised its holdings in shares of Paycom Software by 10.7% in the 3rd quarter. Mutual of America Capital Management LLC now owns 41,851 shares of the software maker’s stock worth $3,137,000 after buying an additional 4,050 shares in the last quarter. TIAA CREF Investment Management LLC raised its holdings in shares of Paycom Software by 11.9% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 132,900 shares of the software maker’s stock worth $9,092,000 after buying an additional 14,144 shares in the last quarter. Finally, Federated Investors Inc. PA raised its holdings in shares of Paycom Software by 372.3% in the 2nd quarter. Federated Investors Inc. PA now owns 70,163 shares of the software maker’s stock worth $4,800,000 after buying an additional 55,308 shares in the last quarter. Institutional investors own 86.42% of the company’s stock.
A number of research analysts have commented on PAYC shares. Robert W. Baird reiterated a “buy” rating and issued a $78.00 price objective on shares of Paycom Software in a research report on Tuesday, September 12th. Northland Securities initiated coverage on Paycom Software in a research report on Thursday, September 21st. They issued an “outperform” rating and a $85.00 price target on the stock. Credit Suisse Group lifted their target price on Paycom Software from $70.00 to $78.00 and gave the stock an “outperform” rating in a report on Wednesday, August 2nd. Barclays PLC lifted their target price on Paycom Software from $74.00 to $82.00 and gave the stock an “overweight” rating in a report on Wednesday, September 13th. Finally, Mizuho reissued a “hold” rating and issued a $70.00 price target on shares of Paycom Software in a research note on Thursday, October 12th. Five equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Paycom Software presently has an average rating of “Buy” and an average price target of $82.65.
In related news, insider Stacey M. Pezold sold 10,000 shares of the business’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $75.02, for a total transaction of $750,200.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Jeffrey D. York sold 40,000 shares of the business’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $74.81, for a total transaction of $2,992,400.00. The disclosure for this sale can be found here. Insiders sold 61,000 shares of company stock worth $4,564,520 in the last 90 days. Corporate insiders own 17.90% of the company’s stock.
Paycom Software (NYSE:PAYC) last released its quarterly earnings data on Tuesday, October 31st. The software maker reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.10. Paycom Software had a net margin of 15.37% and a return on equity of 46.01%. The firm had revenue of $101.30 million for the quarter, compared to analysts’ expectations of $100.47 million. During the same quarter in the previous year, the company earned $0.15 earnings per share. The company’s revenue for the quarter was up 31.0% compared to the same quarter last year.
Paycom Software 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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