Jennison Associates LLC Trims Position in Paycom Software, Inc. (PAYC)
Jennison Associates LLC cut its position in shares of Paycom Software, Inc. (NYSE:PAYC) by 2.5% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,720,626 shares of the software maker’s stock after selling 44,080 shares during the quarter. Jennison Associates LLC owned 2.95% of Paycom Software worth $128,978,000 as of its most recent filing with the SEC.
Other hedge funds have also recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Paycom Software by 10.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,835 shares of the software maker’s stock worth $126,000 after purchasing an additional 167 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in Paycom Software by 7.2% during the second quarter. PNC Financial Services Group Inc. now owns 2,220 shares of the software maker’s stock worth $152,000 after purchasing an additional 150 shares during the last quarter. Fortaleza Asset Management Inc. acquired a new position in Paycom Software during the third quarter worth $164,000. Raymond James Trust N.A. acquired a new position in Paycom Software during the second quarter worth $203,000. Finally, Fiduciary Trust Co. acquired a new position in Paycom Software during the second quarter worth $215,000. 86.36% of the stock is owned by hedge funds and other institutional investors.
Paycom Software, Inc. (NYSE:PAYC) traded up $0.42 during trading on Friday, reaching $78.90. The company had a trading volume of 607,323 shares, compared to its average volume of 563,360. The firm has a market capitalization of $4,572.57, a price-to-earnings ratio of 73.35, a P/E/G ratio of 3.25 and a beta of 1.73. Paycom Software, Inc. has a 52-week low of $39.19 and a 52-week high of $83.11. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.05 and a quick ratio of 1.05.
Paycom Software (NYSE:PAYC) last released its earnings results on Tuesday, October 31st. The software maker reported $0.29 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.10. The firm had revenue of $101.30 million during the quarter, compared to analyst estimates of $100.47 million. Paycom Software had a return on equity of 44.27% and a net margin of 15.37%. The business’s quarterly revenue was up 31.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.15 earnings per share. equities research analysts forecast that Paycom Software, Inc. will post 0.82 EPS for the current fiscal year.
Several brokerages recently issued reports on PAYC. Bank of America Corporation began coverage on Paycom Software in a report on Monday, November 6th. They set a “buy” rating and a $92.00 price objective for the company. Stifel Nicolaus reaffirmed a “buy” rating and set a $85.00 price objective on shares of Paycom Software in a report on Friday, November 3rd. Zacks Investment Research raised Paycom Software from a “hold” rating to a “buy” rating and set a $87.00 price objective for the company in a report on Friday, November 3rd. Barclays PLC lifted their price objective on Paycom Software from $82.00 to $87.00 and gave the stock an “overweight” rating in a report on Wednesday, November 1st. Finally, Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and set a $88.00 price objective (up from $75.00) on shares of Paycom Software in a report on Wednesday, November 1st. Five equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $83.44.
In related news, CFO Craig E. Boelte sold 11,000 shares of the company’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $74.72, for a total value of $821,920.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Stacey M. Pezold sold 10,000 shares of the company’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 disclosure for this sale can be found here. Insiders sold 61,000 shares of company stock valued at $4,564,520 over the last quarter. Insiders own 17.90% of the company’s stock.
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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