Zweig DiMenna Associates LLC Buys Shares of 3,700 Paycom Software, Inc. (PAYC)
Zweig DiMenna Associates LLC bought a new stake in shares of Paycom Software, Inc. (NYSE:PAYC) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 3,700 shares of the software maker’s stock, valued at approximately $277,000.
A number of other institutional investors and hedge funds also recently made changes to their positions in PAYC. Principal Financial Group Inc. increased its stake in shares of Paycom Software by 2.0% in the 1st quarter. Principal Financial Group Inc. now owns 37,612 shares of the software maker’s stock worth $2,163,000 after purchasing an additional 744 shares in the last quarter. Teachers Advisors LLC increased its stake in shares of Paycom Software by 4.3% in the 1st quarter. Teachers Advisors LLC now owns 75,553 shares of the software maker’s stock worth $4,345,000 after purchasing an additional 3,088 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Paycom Software in the 1st quarter worth $8,756,000. BlackRock Inc. increased its stake in shares of Paycom Software by 74,069.7% in the 1st quarter. BlackRock Inc. now owns 2,662,693 shares of the software maker’s stock worth $153,132,000 after purchasing an additional 2,659,103 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its stake in shares of Paycom Software by 7.3% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 175,261 shares of the software maker’s stock worth $10,080,000 after purchasing an additional 11,862 shares in the last quarter. Institutional investors and hedge funds own 88.35% of the company’s stock.
Paycom Software, Inc. (NYSE:PAYC) opened at $79.48 on Tuesday. The firm has a market cap of $4,597.04, a price-to-earnings ratio of 73.74, a P/E/G ratio of 3.26 and a beta of 1.73. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.21. Paycom Software, Inc. has a 1-year low of $40.67 and a 1-year high of $83.11.
Paycom Software (NYSE:PAYC) last released its quarterly earnings data on Tuesday, October 31st. The software maker reported $0.29 EPS for the quarter, beating the consensus estimate of $0.19 by $0.10. Paycom Software had a net margin of 15.37% and a return on equity of 44.27%. The business had revenue of $101.30 million during the quarter, compared to the consensus estimate of $100.47 million. During the same quarter in the prior year, the firm earned $0.15 EPS. The business’s revenue was up 31.0% on a year-over-year basis. analysts expect that Paycom Software, Inc. will post 0.82 earnings per share for the current fiscal year.
Several equities research analysts have recently commented on PAYC shares. Barclays PLC upped their price objective on Paycom Software from $74.00 to $82.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 13th. Robert W. Baird restated a “buy” rating and issued a $78.00 price objective on shares of Paycom Software in a research note on Tuesday, September 12th. Northland Securities started coverage on Paycom Software in a research note on Thursday, September 21st. They issued an “outperform” rating and a $85.00 price objective for the company. Royal Bank Of Canada restated a “hold” rating and issued a $74.00 price objective on shares of Paycom Software in a research note on Wednesday, October 18th. Finally, Dougherty & Co started coverage on Paycom Software in a research note on Tuesday, October 31st. They issued a “buy” rating and a $100.00 price objective for the company. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $83.44.
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In other Paycom Software news, CFO Craig E. Boelte sold 11,000 shares of the stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $74.72, for a total transaction of $821,920.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stacey M. Pezold sold 10,000 shares of the stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $75.02, for a total transaction of $750,200.00. The disclosure for this sale can be found here. Insiders have sold a total of 61,000 shares of company stock valued at $4,564,520 in the last three months. Insiders own 17.90% of the company’s stock.
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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