Allianz Asset Management GmbH cut its holdings in Paycom Software, Inc. (NYSE:PAYC) by 2.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,135,169 shares of the software maker’s stock after selling 32,780 shares during the period. Allianz Asset Management GmbH owned approximately 1.95% of Paycom Software worth $85,092,000 at the end of the most recent reporting period.
A number of other institutional investors have also bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of 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 acquiring an additional 167 shares during the period. PNC Financial Services Group Inc. increased its position in shares of Paycom Software by 7.2% in the second quarter. PNC Financial Services Group Inc. now owns 2,220 shares of the software maker’s stock valued at $152,000 after acquiring an additional 150 shares during the period. Fortaleza Asset Management Inc. purchased a new position in shares of Paycom Software in the third quarter valued at about $164,000. Raymond James Trust N.A. purchased a new position in shares of Paycom Software in the second quarter valued at about $203,000. Finally, Fiduciary Trust Co. purchased a new position in shares of Paycom Software in the second quarter valued at about $215,000. 88.54% of the stock is owned by institutional investors and hedge funds.
In related news, CFO Craig E. Boelte sold 11,000 shares of the business’s 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 document filed with the SEC, which is available at this hyperlink. Also, insider Jeffrey D. York sold 40,000 shares of the business’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $74.81, for a total transaction of $2,992,400.00. The disclosure for this sale can be found here. 17.90% of the stock is owned by insiders.
Paycom Software (NYSE:PAYC) last announced its quarterly earnings results on Tuesday, October 31st. The software maker reported $0.29 earnings per share (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 company had revenue of $101.30 million for the quarter, compared to analysts’ expectations of $100.47 million. During the same quarter in the previous year, the company earned $0.15 earnings per share. Paycom Software’s quarterly revenue was up 31.0% on a year-over-year basis. equities analysts anticipate that Paycom Software, Inc. will post 0.82 EPS for the current year.
A number of research firms have issued reports on PAYC. Jefferies Group boosted their price objective on shares of Paycom Software from $85.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, November 1st. Northland Securities set a $85.00 price objective on shares of Paycom Software and gave the company a “buy” rating in a research report on Wednesday, November 1st. KeyCorp restated a “hold” rating on shares of Paycom Software in a research report on Wednesday, November 1st. Credit Suisse Group cut shares of Paycom Software from an “outperform” rating to a “neutral” rating and set a $78.00 price objective on the stock. in a research report on Wednesday, November 1st. Finally, Robert W. Baird restated a “buy” rating and issued a $82.00 price objective on shares of Paycom Software in a research report on Wednesday, November 1st. Five equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $83.44.
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Paycom Software 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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