Victory Capital Management Inc. cut its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 20.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 422,414 shares of the software maker’s stock after selling 107,405 shares during the period. Victory Capital Management Inc. owned approximately 0.71% of Paycom Software worth $28,897,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Alps Advisors Inc. raised its position in shares of Paycom Software by 0.3% in the second 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. State Board of Administration of Florida Retirement System raised its position in shares of Paycom Software by 0.7% in the first quarter. State Board of Administration of Florida Retirement System now owns 20,715 shares of the software maker’s stock valued at $1,191,000 after buying an additional 140 shares in the last quarter. 1st Global Advisors Inc. raised its position in shares of Paycom Software by 3.4% in the first quarter. 1st Global Advisors Inc. now owns 5,492 shares of the software maker’s stock valued at $316,000 after buying an additional 182 shares in the last quarter. Neuberger Berman Group LLC raised its position in shares of Paycom Software by 6.6% in the first quarter. Neuberger Berman Group LLC now owns 5,788 shares of the software maker’s stock valued at $333,000 after buying an additional 357 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. raised its position in shares of Paycom Software by 4.2% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 9,403 shares of the software maker’s stock valued at $541,000 after buying an additional 376 shares in the last quarter. Institutional investors and hedge funds own 86.05% of the company’s stock.

Shares of Paycom Software, Inc. (PAYC) opened at 74.77 on Friday. Paycom Software, Inc. has a 12 month low of $39.15 and a 12 month high of $75.57. The stock’s 50 day moving average is $70.88 and its 200 day moving average is $64.06. The company has a market cap of $4.33 billion, a P/E ratio of 81.10 and a beta of 1.74.

Paycom Software (NYSE:PAYC) last released its earnings results on Tuesday, August 1st. The software maker reported $0.24 earnings per share (EPS) 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 company had revenue of $98.20 million for the quarter, compared to the consensus estimate of $95.98 million. During the same quarter in the previous year, the company earned $0.21 EPS. Paycom Software’s quarterly revenue was up 32.9% compared to the same quarter last year. On average, analysts anticipate that Paycom Software, Inc. will post $1.15 EPS for the current fiscal year.

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Several equities analysts recently weighed in on the stock. Canaccord Genuity increased their price objective on shares of Paycom Software from $80.00 to $85.00 and gave the company a “buy” rating in a report on Wednesday, August 2nd. Oppenheimer Holdings, Inc. increased their price objective on shares of Paycom Software from $65.00 to $75.00 and gave the company an “outperform” rating in a report on Wednesday, August 2nd. Royal Bank Of Canada restated a “sector perform” rating and issued a $74.00 price objective (up from $67.00) on shares of Paycom Software in a report on Wednesday, August 2nd. Mizuho restated a “hold” rating and issued a $70.00 price objective on shares of Paycom Software in a report on Tuesday, August 1st. Finally, Jefferies Group LLC restated a “buy” rating and issued a $83.00 price objective (up from $73.00) on shares of Paycom Software in a report on Wednesday, August 2nd. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Paycom Software has a consensus rating of “Buy” and a consensus price target of $75.36.

In related news, 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 transaction of $2,677,200.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Stacey M. Pezold sold 30,000 shares of the business’s stock in a transaction on Monday, June 19th. The shares were sold at an average price of $70.15, for a total transaction of $2,104,500.00. The disclosure for this sale can be found here. 17.90% of the stock is owned by insiders.

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.

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

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