Jackson Square Partners LLC increased its holdings in Paycom Software, Inc. (NYSE:PAYC) by 3.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,019,455 shares of the software maker’s stock after purchasing an additional 35,855 shares during the quarter. Jackson Square Partners LLC owned 1.75% of Paycom Software worth $76,418,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Paycom Software by 10.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,835 shares of the software maker’s stock valued at $126,000 after acquiring an additional 167 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of Paycom Software by 7.2% during the second quarter. PNC Financial Services Group Inc. now owns 2,220 shares of the software maker’s stock valued at $152,000 after acquiring an additional 150 shares during the period. Fortaleza Asset Management Inc. acquired a new stake in shares of Paycom Software during the third quarter valued at approximately $164,000. Raymond James Trust N.A. acquired a new stake in shares of Paycom Software during the second quarter valued at approximately $203,000. Finally, Fiduciary Trust Co. acquired a new stake in shares of Paycom Software during the second quarter valued at approximately $215,000. Institutional investors and hedge funds own 88.54% of the company’s stock.
Paycom Software, Inc. (PAYC) traded up $0.79 during trading on Thursday, reaching $77.05. 604,900 shares of the company’s stock traded hands, compared to its average volume of 594,621. The firm has a market cap of $4,443.22, a price-to-earnings ratio of 71.27, a PEG ratio of 3.28 and a beta of 1.68. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.21. Paycom Software, Inc. has a 1 year low of $42.52 and a 1 year high of $86.10.
Paycom Software (NYSE:PAYC) last posted its earnings results on Tuesday, October 31st. The software maker reported $0.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.10. The company had revenue of $101.30 million during the quarter, compared to the consensus estimate of $100.47 million. Paycom Software had a net margin of 15.37% and a return on equity of 44.27%. The company’s revenue for the quarter was up 31.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.15 earnings per share. research analysts expect that Paycom Software, Inc. will post 0.82 EPS for the current fiscal year.
PAYC has been the topic of a number of recent analyst reports. Jefferies Group boosted their price target on shares of Paycom Software from $85.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, November 1st. Royal Bank Of Canada restated a “hold” rating and set a $74.00 price target on shares of Paycom Software in a report on Wednesday, October 18th. Zacks Investment Research upgraded shares of Paycom Software from a “hold” rating to a “buy” rating and set a $87.00 price objective on the stock in a research note on Friday, November 3rd. Robert W. Baird reiterated a “buy” rating and issued a $78.00 price objective on shares of Paycom Software in a research note on Tuesday, September 12th. Finally, Bank of America started coverage on shares of Paycom Software in a research note on Monday, November 6th. They issued a “buy” rating and a $92.00 price objective on the stock. Five research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $83.44.
In other Paycom Software news, insider Jeffrey D. York sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $74.81, for a total value of $2,992,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Craig E. Boelte sold 11,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $74.72, for a total transaction of $821,920.00. The disclosure for this sale can be found here. Insiders own 17.90% of the company’s stock.
About Paycom Software
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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