Koch Industries Inc. bought a new stake in shares of Paycom Software, Inc. (NYSE:PAYC) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 274,517 shares of the software maker’s stock, valued at approximately $271,000. Koch Industries Inc. owned approximately 0.47% of Paycom Software at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Alps Advisors Inc. boosted its holdings in shares of Paycom Software by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 8,542 shares of the software maker’s stock valued at $584,000 after buying an additional 22 shares in the last quarter. Renaissance Group LLC boosted its holdings in shares of Paycom Software by 0.7% during the 2nd quarter. Renaissance Group LLC now owns 6,156 shares of the software maker’s stock valued at $421,000 after buying an additional 42 shares in the last quarter. 1st Global Advisors Inc. boosted its holdings in shares of Paycom Software by 1.4% during the 2nd quarter. 1st Global Advisors Inc. now owns 5,567 shares of the software maker’s stock valued at $381,000 after buying an additional 75 shares in the last quarter. Suntrust Banks Inc. boosted its holdings in shares of Paycom Software by 0.6% during the 2nd quarter. Suntrust Banks Inc. now owns 14,130 shares of the software maker’s stock valued at $966,000 after buying an additional 91 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Paycom Software by 7.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,220 shares of the software maker’s stock valued at $152,000 after buying an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 86.05% of the company’s stock.

In other Paycom Software news, CFO Craig E. Boelte sold 11,000 shares of the firm’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $74.72, for a total value of $821,920.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jeffrey D. York sold 40,000 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $74.81, for a total value of $2,992,400.00. The disclosure for this sale can be found here. In the last three months, insiders sold 61,000 shares of company stock valued at $4,564,520. Corporate insiders own 17.90% of the company’s stock.

PAYC has been the topic of a number of research reports. Robert W. Baird restated a “buy” rating and set a $78.00 target price on shares of Paycom Software in a report on Tuesday, September 12th. Northland Securities began coverage on shares of Paycom Software in a research note on Thursday, September 21st. They issued an “outperform” rating and a $85.00 price target on the stock. Credit Suisse Group upped their price target on shares of Paycom Software from $70.00 to $78.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 2nd. Barclays PLC upped their price target on shares of Paycom Software from $74.00 to $82.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 13th. Finally, Zacks Investment Research cut shares of Paycom Software from a “buy” rating to a “hold” rating in a research note on Friday, August 25th. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Paycom Software has a consensus rating of “Buy” and an average target price of $76.63.

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Paycom Software, Inc. (PAYC) opened at 79.24 on Friday. The stock has a market cap of $4.59 billion, a price-to-earnings ratio of 85.94 and a beta of 1.72. Paycom Software, Inc. has a 12 month low of $39.15 and a 12 month high of $79.98. The firm has a 50-day moving average price of $75.94 and a 200-day moving average price of $68.94.

Paycom Software (NYSE:PAYC) last issued its quarterly earnings results on Tuesday, August 1st. The software maker reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.11. The business had revenue of $98.20 million during the quarter, compared to the consensus estimate of $95.98 million. Paycom Software had a return on equity of 35.77% and a net margin of 14.28%. The company’s quarterly revenue was up 32.9% on a year-over-year basis. During the same quarter last year, the company earned $0.21 earnings per share. Equities research analysts expect that Paycom Software, Inc. will post $1.15 earnings per share for the current fiscal year.

About Paycom Software

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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Institutional Ownership by Quarter for Paycom Software (NYSE:PAYC)

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