Matthew Goff Investment Advisor LLC acquired a new stake in shares of Paycom Software Inc (NYSE:PAYC) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,912 shares of the software maker’s stock, valued at approximately $304,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Bank of Montreal Can lifted its holdings in shares of Paycom Software by 136.5% in the second quarter. Bank of Montreal Can now owns 13,210 shares of the software maker’s stock worth $1,306,000 after buying an additional 7,624 shares in the last quarter. Cornerstone Wealth Management LLC bought a new position in shares of Paycom Software in the second quarter worth approximately $195,000. Raymond James Financial Services Advisors Inc. increased its position in shares of Paycom Software by 4.0% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 45,154 shares of the software maker’s stock worth $4,463,000 after purchasing an additional 1,730 shares during the last quarter. Alps Advisors Inc. increased its position in shares of Paycom Software by 43.4% in the second quarter. Alps Advisors Inc. now owns 6,294 shares of the software maker’s stock worth $506,000 after purchasing an additional 1,904 shares during the last quarter. Finally, TD Asset Management Inc. increased its position in shares of Paycom Software by 1,086.1% in the second quarter. TD Asset Management Inc. now owns 27,280 shares of the software maker’s stock worth $2,696,000 after purchasing an additional 24,980 shares during the last quarter. 77.29% of the stock is currently owned by institutional investors and hedge funds.

Several research analysts recently weighed in on the stock. ValuEngine upgraded shares of Paycom Software from a “hold” rating to a “buy” rating in a research report on Monday, November 26th. Zacks Investment Research restated a “buy” rating and issued a $141.00 price objective on shares of Paycom Software in a research report on Wednesday, November 14th. Needham & Company LLC upped their price objective on shares of Paycom Software to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, October 31st. Credit Suisse Group upped their price objective on shares of Paycom Software from $110.00 to $125.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 31st. Finally, Jefferies Financial Group upped their price objective on shares of Paycom Software to $139.00 and gave the stock a “buy” rating in a research report on Wednesday, October 31st. Nine analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $126.82.

In other news, insider Bradley Scott Smith sold 5,200 shares of the stock in a transaction that occurred on Monday, September 24th. The stock was sold at an average price of $154.73, for a total transaction of $804,596.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jeffrey D. York sold 50,000 shares of the stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $152.53, for a total value of $7,626,500.00. The disclosure for this sale can be found here. Insiders have sold 57,200 shares of company stock worth $8,711,516 over the last quarter. Company insiders own 16.24% of the company’s stock.

NYSE PAYC traded down $1.26 on Friday, reaching $132.31. 3,329 shares of the company’s stock traded hands, compared to its average volume of 586,127. Paycom Software Inc has a 12 month low of $77.02 and a 12 month high of $164.08. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.08 and a quick ratio of 1.08. The stock has a market capitalization of $7.68 billion, a P/E ratio of 151.77, a PEG ratio of 2.38 and a beta of 1.83.

Paycom Software (NYSE:PAYC) last issued its quarterly earnings results on Tuesday, October 30th. The software maker reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.01. Paycom Software had a net margin of 22.37% and a return on equity of 39.19%. The business had revenue of $133.29 million for the quarter, compared to analysts’ expectations of $130.52 million. During the same period last year, the business earned $0.39 earnings per share. The business’s quarterly revenue was up 31.6% on a year-over-year basis. As a group, equities analysts expect that Paycom Software Inc will post 2.15 earnings per share for the current fiscal year.

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About Paycom Software

Paycom Software, Inc provides cloud-based human capital management (HCM) software service for small to mid-sized companies in the United States. It provides functionality and data analytics that businesses need to manage the employment life cycle from recruitment to retirement. The company's HCM solution offers a suite of applications in the areas of talent acquisition, including applicant tracking, candidate tracker, background checks, on-boarding, e-verify, and tax credit services; and time and labor management, such as time and attendance, scheduling/schedule exchange, time-off requests, labor allocation, labor management reports/push reporting, and geofencing/geotracking.

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

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