Harvest Fund Management Co. Ltd purchased a new position in shares of Paycom Software Inc (NYSE:PAYC) in the 3rd quarter, HoldingsChannel.com reports. The firm purchased 1,135 shares of the software maker’s stock, valued at approximately $176,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SeaCrest Wealth Management LLC boosted its position in shares of Paycom Software by 154.3% during the second quarter. SeaCrest Wealth Management LLC now owns 1,030 shares of the software maker’s stock worth $102,000 after buying an additional 625 shares during the period. Point72 Asset Management L.P. purchased a new position in shares of Paycom Software during the second quarter worth $119,000. Truvestments Capital LLC purchased a new position in shares of Paycom Software during the third quarter worth $132,000. Rational Advisors LLC purchased a new position in shares of Paycom Software during the second quarter worth $148,000. Finally, Hexavest Inc. purchased a new position in shares of Paycom Software during the third quarter worth $149,000. Institutional investors and hedge funds own 82.67% of the company’s stock.
PAYC has been the subject of several research analyst reports. Needham & Company LLC initiated coverage on Paycom Software in a research report on Wednesday, July 18th. They set a “buy” rating and a $130.00 price target for the company. ValuEngine upgraded Paycom Software from a “hold” rating to a “buy” rating in a research report on Wednesday, July 11th. Bank of America raised their price target on Paycom Software from $125.00 to $134.00 and gave the stock a “buy” rating in a research report on Wednesday, August 1st. KeyCorp restated a “buy” rating and set a $133.00 price target on shares of Paycom Software in a research report on Wednesday, August 1st. Finally, Jefferies Financial Group raised their price target on Paycom Software to $139.00 and gave the stock a “buy” rating in a research report on Wednesday. Nine equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $127.65.
Paycom Software (NYSE:PAYC) last released its earnings results on Tuesday, October 30th. The software maker reported $0.52 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.01. The firm had revenue of $133.29 million during the quarter, compared to analyst estimates of $130.52 million. Paycom Software had a return on equity of 42.67% and a net margin of 22.37%. Paycom Software’s revenue was up 31.6% compared to the same quarter last year. During the same period last year, the business posted $0.39 earnings per share. Equities research analysts predict that Paycom Software Inc will post 2.12 earnings per share for the current year.
In other Paycom Software news, insider Kathy Oden-Hall sold 2,000 shares of Paycom Software stock in a transaction dated Friday, October 5th. The stock was sold at an average price of $140.21, for a total transaction of $280,420.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Craig E. Boelte sold 12,000 shares of Paycom Software stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $155.63, for a total value of $1,867,560.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 78,200 shares of company stock valued at $11,855,816. 16.24% of the stock is currently owned by company insiders.
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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