Cwm LLC lifted its holdings in shares of Paycom Software, Inc. (NYSE:PAYC – Get Rating) by 33.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 619 shares of the software maker's stock after purchasing an additional 154 shares during the quarter. Cwm LLC's holdings in Paycom Software were worth $173,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Toth Financial Advisory Corp increased its holdings in shares of Paycom Software by 250.0% in the 2nd quarter. Toth Financial Advisory Corp now owns 91 shares of the software maker's stock worth $25,000 after buying an additional 65 shares during the last quarter. Allworth Financial LP raised its position in Paycom Software by 157.1% during the first quarter. Allworth Financial LP now owns 108 shares of the software maker's stock valued at $37,000 after purchasing an additional 66 shares in the last quarter. Fairfield Bush & CO. bought a new stake in Paycom Software during the first quarter worth about $48,000. Quadrant Capital Group LLC boosted its holdings in shares of Paycom Software by 58.3% in the 1st quarter. Quadrant Capital Group LLC now owns 152 shares of the software maker's stock worth $53,000 after purchasing an additional 56 shares in the last quarter. Finally, Prospera Financial Services Inc bought a new position in shares of Paycom Software during the 1st quarter valued at about $60,000. 74.43% of the stock is currently owned by institutional investors.
Get Paycom Software alerts:Insider Buying and Selling
In other Paycom Software news, Director Frederick C. Peters II sold 1,000 shares of the firm's stock in a transaction on Monday, August 8th. The stock was sold at an average price of $371.17, for a total transaction of $371,170.00. Following the completion of the transaction, the director now owns 15,778 shares of the company's stock, valued at $5,856,320.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 15.20% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
Several brokerages have issued reports on PAYC. Jefferies Financial Group reaffirmed a "buy" rating and issued a $335.00 target price on shares of Paycom Software in a research note on Wednesday, August 3rd. Credit Suisse Group increased their target price on shares of Paycom Software from $350.00 to $375.00 and gave the company an "outperform" rating in a report on Wednesday, August 3rd. Cowen boosted their price target on shares of Paycom Software to $400.00 in a research note on Tuesday, August 9th. Barclays raised their price objective on Paycom Software from $339.00 to $343.00 and gave the company an "equal weight" rating in a research note on Tuesday, October 18th. Finally, Oppenheimer increased their target price on Paycom Software from $375.00 to $415.00 in a report on Thursday, August 11th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Paycom Software presently has a consensus rating of "Moderate Buy" and an average price target of $386.67.Paycom Software Price Performance
PAYC stock opened at $323.01 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.08 and a quick ratio of 1.08. Paycom Software, Inc. has a 1 year low of $255.82 and a 1 year high of $558.97. The firm has a 50-day moving average of $347.65 and a 200 day moving average of $319.49. The company has a market cap of $19.39 billion, a P/E ratio of 82.19, a PEG ratio of 2.86 and a beta of 1.43.
Paycom Software (NYSE:PAYC – Get Rating) last posted its earnings results on Tuesday, August 2nd. The software maker reported $0.84 earnings per share for the quarter, topping analysts' consensus estimates of $0.81 by $0.03. The firm had revenue of $316.92 million for the quarter, compared to the consensus estimate of $309.17 million. Paycom Software had a return on equity of 23.38% and a net margin of 18.85%. On average, sell-side analysts forecast that Paycom Software, Inc. will post 4.48 EPS for the current year.
Paycom Software announced that its Board of Directors has approved a share repurchase program on Monday, August 15th that authorizes the company to repurchase $1.10 billion in outstanding shares. This repurchase authorization authorizes the software maker to purchase up to 4.7% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's leadership believes its stock is undervalued.
Paycom Software Profile
(Get Rating)
Paycom Software, Inc provides cloud-based human capital management (HCM) solution delivered as software-as-a-service for small to mid-sized companies in the United States. It offers functionality and data analytics that businesses need to manage the employment life cycle from recruitment to retirement.
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