Renaissance Group LLC Acquires 42 Shares of Paycom Software, Inc. (PAYC)
Renaissance Group LLC raised its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 0.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,156 shares of the software maker’s stock after buying an additional 42 shares during the period. Renaissance Group LLC’s holdings in Paycom Software were worth $421,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Paycom Software by 10.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,835 shares of the software maker’s stock valued at $126,000 after buying an additional 167 shares during the last quarter. Neuberger Berman Group LLC raised its position in Paycom Software by 9.1% in the second quarter. Neuberger Berman Group LLC now owns 6,315 shares of the software maker’s stock valued at $432,000 after buying an additional 527 shares during the last quarter. Pacer Advisors Inc. raised its position in Paycom Software by 24.3% in the second quarter. Pacer Advisors Inc. now owns 5,476 shares of the software maker’s stock valued at $375,000 after buying an additional 1,071 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its position in Paycom Software by 0.7% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 681,146 shares of the software maker’s stock valued at $47,741,000 after buying an additional 4,758 shares during the last quarter. Finally, American Century Companies Inc. acquired a new position in Paycom Software during the second quarter valued at approximately $8,664,000. 86.05% of the stock is owned by institutional investors and hedge funds.
Shares of Paycom Software, Inc. (PAYC) opened at 71.93 on Wednesday. The stock’s 50 day moving average is $70.15 and its 200 day moving average is $63.20. The stock has a market cap of $4.17 billion, a P/E ratio of 78.02 and a beta of 1.75. Paycom Software, Inc. has a 12 month low of $39.15 and a 12 month high of $74.82.
Paycom Software (NYSE:PAYC) last released its quarterly earnings data on Tuesday, August 1st. The software maker reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.11. The business had revenue of $98.20 million for the quarter, compared to analysts’ expectations of $95.98 million. Paycom Software had a return on equity of 35.77% and a net margin of 14.28%. Paycom Software’s quarterly revenue was up 32.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.21 earnings per share. Analysts predict that Paycom Software, Inc. will post $1.15 earnings per share for the current fiscal year.
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Several research analysts have recently commented on the stock. Zacks Investment Research lowered shares of Paycom Software from a “buy” rating to a “hold” rating in a research note on Friday, August 25th. BidaskClub raised shares of Paycom Software from a “buy” rating to a “strong-buy” rating in a research note on Thursday, August 24th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $74.00 price objective (up previously from $67.00) on shares of Paycom Software in a research note on Tuesday, August 8th. KeyCorp raised their price objective on shares of Paycom Software to $94.00 in a research note on Wednesday, August 2nd. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $83.00 price target (up previously from $73.00) on shares of Paycom Software in a research note on Wednesday, August 2nd. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $75.36.
In related news, insider Stacey M. Pezold sold 30,000 shares of the business’s stock in a transaction on Monday, June 19th. The stock was 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 accessible through this link. Also, insider Jeffrey D. York sold 40,000 shares of the business’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $66.93, for a total value of $2,677,200.00. The disclosure for this sale can be found here. Insiders own 17.90% of the company’s stock.
Paycom Software Company 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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