United Services Automobile Association raised its stake in Paycom Software Inc (NYSE:PAYC) by 101.7% during the second quarter, HoldingsChannel reports. The firm owned 25,980 shares of the software maker’s stock after purchasing an additional 13,100 shares during the quarter. United Services Automobile Association’s holdings in Paycom Software were worth $2,568,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the business. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its position in Paycom Software by 17.0% in the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 821,053 shares of the software maker’s stock valued at $81,145,000 after purchasing an additional 119,541 shares in the last quarter. Janus Henderson Group PLC raised its position in Paycom Software by 5.2% in the 2nd quarter. Janus Henderson Group PLC now owns 597,864 shares of the software maker’s stock valued at $59,087,000 after purchasing an additional 29,616 shares in the last quarter. Millennium Management LLC acquired a new stake in Paycom Software in the 2nd quarter valued at about $45,728,000. Riverbridge Partners LLC acquired a new stake in Paycom Software in the 2nd quarter valued at about $44,070,000. Finally, Advisors Asset Management Inc. raised its position in Paycom Software by 3,056.3% in the 2nd quarter. Advisors Asset Management Inc. now owns 388,543 shares of the software maker’s stock valued at $1,359,000 after purchasing an additional 376,233 shares in the last quarter. 83.05% of the stock is currently owned by institutional investors.
PAYC has been the topic of a number of analyst reports. ValuEngine lowered Paycom Software from a “buy” rating to a “hold” rating in a research report on Wednesday, June 27th. Needham & Company LLC initiated coverage on Paycom Software in a research report on Wednesday, July 18th. They issued a “buy” rating and a $130.00 price target on the stock. Royal Bank of Canada increased their price target on Paycom Software to $115.00 and gave the company a “sector perform” rating in a research report on Monday, July 30th. KeyCorp reaffirmed a “buy” rating and issued a $133.00 price target on shares of Paycom Software in a research report on Wednesday, August 1st. Finally, Stifel Nicolaus increased their price target on Paycom Software from $100.00 to $115.00 and gave the company a “hold” rating in a research report on Wednesday, August 1st. Ten equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Paycom Software has an average rating of “Buy” and a consensus target price of $119.21.
Paycom Software (NYSE:PAYC) last released its quarterly earnings data on Tuesday, July 31st. The software maker reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.18. Paycom Software had a return on equity of 42.01% and a net margin of 20.85%. The business had revenue of $128.80 million for the quarter, compared to the consensus estimate of $124.47 million. On average, research analysts expect that Paycom Software Inc will post 2.12 earnings per share for the current year.
In related news, insider Kathy Oden-Hall sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, October 5th. The stock was sold at an average price of $140.21, for a total transaction of $280,420.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Bradley Scott Smith sold 5,200 shares of the firm’s stock in a transaction that occurred on Monday, September 24th. The stock was sold at an average price of $154.73, for a total value of $804,596.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 80,968 shares of company stock worth $12,183,436. Company insiders own 16.24% of the company’s stock.
Paycom Software Company Profile
Paycom Software, Inc provides cloud-based human capital management (HCM) software service for small to mid-sized companies in the United States. It provides functionality and data analytics that businesses need to manage the employment life cycle from recruitment to retirement. The company's HCM solution offers a suite of applications in the areas of talent acquisition, including applicant tracking, candidate tracker, background checks, on-boarding, e-verify, and tax credit services; and time and labor management, such as time and attendance, scheduling/schedule exchange, time-off requests, labor allocation, labor management reports/push reporting, and geofencing/geotracking.
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