Paycom Software, Inc. (PAYC) Stake Raised by First Trust Advisors LP
First Trust Advisors LP raised its stake in Paycom Software, Inc. (NYSE:PAYC) by 61.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 96,162 shares of the software maker’s stock after buying an additional 36,678 shares during the period. First Trust Advisors LP owned approximately 0.16% of Paycom Software worth $6,578,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in the company. Granite Investment Partners LLC increased its stake in shares of Paycom Software by 2.5% in the second quarter. Granite Investment Partners LLC now owns 209,117 shares of the software maker’s stock valued at $14,306,000 after buying an additional 5,184 shares in the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of Paycom Software by 7.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 187,789 shares of the software maker’s stock valued at $12,847,000 after buying an additional 12,528 shares in the last quarter. Sei Investments Co. increased its stake in shares of Paycom Software by 1.1% in the second quarter. Sei Investments Co. now owns 255,477 shares of the software maker’s stock valued at $17,477,000 after buying an additional 2,788 shares in the last quarter. State of New Jersey Common Pension Fund D acquired a new stake in shares of Paycom Software during the second quarter valued at $2,244,000. Finally, Lebenthal Lisanti Capital Growth LLC acquired a new stake in shares of Paycom Software during the second quarter valued at $2,580,000. Institutional investors and hedge funds own 86.05% of the company’s stock.
Paycom Software, Inc. (NYSE:PAYC) opened at 71.93 on Wednesday. Paycom Software, Inc. has a 12 month low of $39.15 and a 12 month high of $74.82. The stock’s 50 day moving average price is $70.15 and its 200-day moving average price is $63.20. The company has a market capitalization of $4.17 billion, a P/E ratio of 78.02 and a beta of 1.75.
Paycom Software (NYSE:PAYC) last announced its quarterly earnings data on Tuesday, August 1st. The software maker reported $0.24 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.11. Paycom Software had a net margin of 14.28% and a return on equity of 35.77%. The business had revenue of $98.20 million for the quarter, compared to analyst estimates of $95.98 million. During the same period last year, the business earned $0.21 EPS. The company’s revenue was up 32.9% on a year-over-year basis. On average, equities research analysts predict that Paycom Software, Inc. will post $1.15 EPS for the current fiscal year.
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Several brokerages recently weighed in on PAYC. Zacks Investment Research downgraded Paycom Software from a “buy” rating to a “hold” rating in a research report on Friday, August 25th. BidaskClub upgraded Paycom Software from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 24th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $74.00 target price (up from $67.00) on shares of Paycom Software in a research report on Tuesday, August 8th. KeyCorp increased their target price on Paycom Software to $94.00 in a research report on Wednesday, August 2nd. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $83.00 target price (up from $73.00) on shares of Paycom Software in a research report on Wednesday, August 2nd. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $75.36.
In other news, insider Stacey M. Pezold sold 30,000 shares of the firm’s stock in a transaction on Monday, June 19th. The shares were sold at an average price of $70.15, for a total value of $2,104,500.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Jeffrey D. York sold 40,000 shares of the firm’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $66.93, for a total transaction of $2,677,200.00. The disclosure for this sale can be found here. 17.90% of the stock is currently owned by company insiders.
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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