V Wealth Management LLC raised its stake in Paycom Software Inc (NYSE:PAYC) by 65.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 6,853 shares of the software maker’s stock after buying an additional 2,707 shares during the period. V Wealth Management LLC’s holdings in Paycom Software were worth $551,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. JPMorgan Chase & Co. grew its position in Paycom Software by 96.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,172,756 shares of the software maker’s stock worth $87,664,000 after purchasing an additional 574,658 shares in the last quarter. Capital World Investors grew its position in Paycom Software by 6.7% during the 2nd quarter. Capital World Investors now owns 6,612,914 shares of the software maker’s stock worth $452,389,000 after purchasing an additional 415,000 shares in the last quarter. BlackRock Inc. grew its position in Paycom Software by 12.7% during the 2nd quarter. BlackRock Inc. now owns 3,001,044 shares of the software maker’s stock worth $205,302,000 after purchasing an additional 338,351 shares in the last quarter. New York State Common Retirement Fund grew its position in Paycom Software by 60.3% during the 2nd quarter. New York State Common Retirement Fund now owns 748,858 shares of the software maker’s stock worth $51,229,000 after purchasing an additional 281,778 shares in the last quarter. Finally, Koch Industries Inc. purchased a new position in Paycom Software during the 2nd quarter worth approximately $271,000. 87.88% of the stock is currently owned by institutional investors.
Several research firms have weighed in on PAYC. Zacks Investment Research upgraded shares of Paycom Software from a “hold” rating to a “strong-buy” rating and set a $97.00 price objective on the stock in a research report on Friday. Credit Suisse Group boosted their price target on shares of Paycom Software from $82.00 to $85.00 and gave the company a “neutral” rating in a report on Wednesday. Barclays boosted their price target on shares of Paycom Software from $96.00 to $97.00 and gave the company an “overweight” rating in a report on Wednesday. Bank of America boosted their price target on shares of Paycom Software from $92.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Stifel Nicolaus boosted their price target on shares of Paycom Software from $85.00 to $90.00 and gave the company a “buy” rating in a report on Wednesday. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. Paycom Software currently has a consensus rating of “Buy” and an average target price of $87.94.
Paycom Software (NYSE:PAYC) last issued its quarterly earnings data on Tuesday, February 6th. The software maker reported $0.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.05. The firm had revenue of $114.00 million during the quarter, compared to analysts’ expectations of $113.01 million. Paycom Software had a net margin of 15.43% and a return on equity of 45.18%. Paycom Software’s revenue for the quarter was up 29.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.18 earnings per share. analysts anticipate that Paycom Software Inc will post 1.56 EPS for the current fiscal year.
In related news, CFO Craig E. Boelte sold 11,000 shares of the company’s stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $78.92, for a total value of $868,120.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert J. Levenson sold 18,750 shares of the company’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $88.89, for a total transaction of $1,666,687.50. The disclosure for this sale can be found here. Insiders sold 79,750 shares of company stock valued at $6,533,308 over the last quarter. 17.90% of the stock is currently owned by corporate 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.
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