Envestnet Asset Management Inc. decreased its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 4.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,680 shares of the software maker’s stock after selling 130 shares during the period. Envestnet Asset Management Inc.’s holdings in Paycom Software were worth $153,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of the stock. Ameritas Investment Partners Inc. purchased a new stake in Paycom Software during the first quarter valued at about $219,000. Raymond James Financial Services Advisors Inc. raised its stake in 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. 1st Global Advisors Inc. raised its stake in 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. Penserra Capital Management LLC purchased a new stake in Paycom Software during the first quarter valued at about $1,165,000. Finally, Brown Capital Management LLC raised its stake in Paycom Software by 16.1% in the first quarter. Brown Capital Management LLC now owns 2,627,344 shares of the software maker’s stock valued at $151,099,000 after buying an additional 364,548 shares in the last quarter. 90.52% of the stock is currently owned by institutional investors and hedge funds.
Paycom Software, Inc. (NYSE PAYC) traded up 1.73% during trading on Friday, hitting $70.46. The company had a trading volume of 479,135 shares. Paycom Software, Inc. has a 12-month low of $39.15 and a 12-month high of $73.61. The company has a market capitalization of $4.08 billion, a price-to-earnings ratio of 82.22 and a beta of 1.77. The firm has a 50-day moving average of $69.09 and a 200 day moving average of $60.00.
Paycom Software (NYSE:PAYC) last announced its quarterly earnings data on Tuesday, May 2nd. The software maker reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.07. Paycom Software had a return on equity of 33.01% and a net margin of 14.19%. The business had revenue of $119.51 million during the quarter, compared to analysts’ expectations of $115.70 million. On average, equities research analysts forecast that Paycom Software, Inc. will post $1.09 earnings per share for the current year.
Several equities research analysts recently issued reports on the company. Barclays PLC reissued a “buy” rating and set a $74.00 price target on shares of Paycom Software in a research report on Wednesday, July 19th. Mizuho lowered Paycom Software from a “buy” rating to a “neutral” rating and set a $70.00 target price on the stock. in a research report on Monday, July 10th. Credit Suisse Group reaffirmed a “buy” rating on shares of Paycom Software in a research report on Monday, July 3rd. BidaskClub lowered Paycom Software from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 29th. Finally, Canaccord Genuity increased their target price on Paycom Software from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, June 27th. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Paycom Software currently has an average rating of “Buy” and an average target price of $65.54.
In other Paycom Software news, insider Jeffrey D. York sold 40,000 shares of the business’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $66.93, for a total value of $2,677,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Stacey M. Pezold sold 30,000 shares of the company’s stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $70.15, for a total value 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.
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