Sit Investment Associates Inc. boosted its position in shares of Paycom Software, Inc. (NYSE:PAYC) by 74.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,025 shares of the software maker’s stock after buying an additional 8,125 shares during the period. Sit Investment Associates Inc.’s holdings in Paycom Software were worth $1,302,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently made changes to their positions in PAYC. State Board of Administration of Florida Retirement System increased 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 worth $1,191,000 after buying an additional 140 shares during the period. 1st Global Advisors Inc. increased 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 worth $316,000 after buying an additional 182 shares during the period. Neuberger Berman Group LLC increased 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 worth $333,000 after buying an additional 357 shares during the period. Raymond James Financial Services Advisors Inc. increased 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 worth $541,000 after buying an additional 376 shares during the period. Finally, Sapphire Star Partners LP increased its position in shares of Paycom Software by 3.6% in the first quarter. Sapphire Star Partners LP now owns 11,338 shares of the software maker’s stock worth $652,000 after buying an additional 392 shares during the period. 90.50% of the stock is owned by institutional investors.
Shares of Paycom Software, Inc. (NYSE PAYC) opened at 69.64 on Friday. Paycom Software, Inc. has a 1-year low of $39.15 and a 1-year high of $73.61. The stock’s 50 day moving average is $68.69 and its 200-day moving average is $59.09. The firm has a market cap of $4.03 billion, a PE ratio of 81.26 and a beta of 1.77.
Paycom Software (NYSE:PAYC) last posted its quarterly earnings results on Tuesday, May 2nd. The software maker reported $0.44 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.07. The company had revenue of $119.51 million during the quarter, compared to analyst estimates of $115.70 million. Paycom Software had a net margin of 14.19% and a return on equity of 33.01%. Analysts expect that Paycom Software, Inc. will post $1.09 earnings per share for the current year.
A number of research analysts have recently commented on the stock. UBS AG reissued a “buy” rating on shares of Paycom Software in a research report on Wednesday, May 3rd. Jefferies Group LLC lifted their price objective on shares of Paycom Software from $69.00 to $73.00 and gave the company a “buy” rating in a research report on Wednesday, May 3rd. Stifel Nicolaus lifted their price objective on shares of Paycom Software from $55.00 to $67.00 and gave the company a “buy” rating in a research report on Wednesday, May 3rd. Barclays PLC reissued a “buy” rating and issued a $74.00 price objective on shares of Paycom Software in a research report on Wednesday. Finally, Mizuho downgraded shares of Paycom Software from a “buy” rating to a “neutral” rating and set a $70.00 price objective for the company. in a research report on Monday, July 10th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $65.54.
In other Paycom Software news, insider Jeffrey D. York sold 40,000 shares of the stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $66.93, for a total transaction of $2,677,200.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Stacey M. Pezold sold 30,000 shares of the stock in a transaction dated Monday, June 19th. The stock was 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 currently owned by corporate 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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