Sei Investments Co. lowered its stake in Paycom Software Inc (NYSE:PAYC) by 1.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 256,532 shares of the software maker’s stock after selling 3,412 shares during the quarter. Sei Investments Co.’s holdings in Paycom Software were worth $20,608,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. PNC Financial Services Group Inc. boosted its stake in Paycom Software by 7.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 2,220 shares of the software maker’s stock worth $152,000 after purchasing an additional 150 shares during the period. Stifel Financial Corp boosted its position in shares of Paycom Software by 3.8% during the 2nd quarter. Stifel Financial Corp now owns 8,882 shares of the software maker’s stock valued at $612,000 after acquiring an additional 328 shares during the last quarter. Ameritas Investment Partners Inc. boosted its position in shares of Paycom Software by 13.9% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,329 shares of the software maker’s stock valued at $296,000 after acquiring an additional 528 shares during the last quarter. US Bancorp DE boosted its position in shares of Paycom Software by 6.8% during the 4th quarter. US Bancorp DE now owns 9,220 shares of the software maker’s stock valued at $740,000 after acquiring an additional 584 shares during the last quarter. Finally, California State Teachers Retirement System boosted its position in shares of Paycom Software by 0.7% during the 2nd quarter. California State Teachers Retirement System now owns 87,346 shares of the software maker’s stock valued at $5,975,000 after acquiring an additional 650 shares during the last quarter. Institutional investors and hedge funds own 87.12% of the company’s stock.
Shares of Paycom Software Inc (NYSE:PAYC) opened at $94.90 on Friday. The firm has a market capitalization of $5,616.47, a P/E ratio of 81.81, a P/E/G ratio of 2.36 and a beta of 1.70. Paycom Software Inc has a 12-month low of $52.07 and a 12-month high of $96.59. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.01 and a quick ratio of 1.05.
Paycom Software declared that its Board of Directors has approved a share buyback program on Tuesday, February 13th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the software maker to purchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
A number of analysts have recently issued reports on the company. KeyCorp upgraded Paycom Software from a “sector weight” rating to an “overweight” rating in a research report on Tuesday, February 13th. Zacks Investment Research upgraded Paycom Software from a “hold” rating to a “strong-buy” rating and set a $97.00 price target for the company in a research report on Friday, February 9th. Credit Suisse Group lifted their price target on Paycom Software from $82.00 to $85.00 and gave the company a “neutral” rating in a research report on Wednesday, February 7th. Barclays lifted their price target on Paycom Software from $96.00 to $97.00 and gave the company an “overweight” rating in a research report on Wednesday, February 7th. Finally, Bank of America lifted their price target on Paycom Software from $92.00 to $105.00 and gave the company a “buy” rating in a research report on Wednesday, February 7th. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $88.56.
In other Paycom Software news, Director Robert J. Levenson sold 18,750 shares of Paycom Software stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $88.89, for a total value of $1,666,687.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Jeffrey D. York sold 50,000 shares of Paycom Software stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $79.97, for a total value of $3,998,500.00. The disclosure for this sale can be found here. Insiders sold a total of 79,750 shares of company stock valued at $6,533,308 in the last 90 days. 17.90% of the stock is currently owned by corporate insiders.
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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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