Paycom Software, Inc. (NYSE:PAYC) Shares Bought by Forsta AP Fonden

Forsta AP Fonden grew its position in shares of Paycom Software, Inc. (NYSE:PAYC) by 23.9% during the 3rd quarter, Holdings Channel reports. The firm owned 14,000 shares of the software maker’s stock after purchasing an additional 2,700 shares during the period. Forsta AP Fonden’s holdings in Paycom Software were worth $6,941,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of PAYC. JNBA Financial Advisors acquired a new position in shares of Paycom Software in the 3rd quarter worth $26,000. West Oak Capital LLC acquired a new stake in shares of Paycom Software in the third quarter worth $27,000. Allworth Financial LP boosted its position in shares of Paycom Software by 59.0% in the third quarter. Allworth Financial LP now owns 62 shares of the software maker’s stock worth $31,000 after buying an additional 23 shares during the period. Destiny Wealth Partners LLC acquired a new stake in shares of Paycom Software in the third quarter worth $33,000. Finally, First Quadrant L P CA acquired a new stake in Paycom Software during the third quarter valued at $35,000. Institutional investors own 72.78% of the company’s stock.

A number of research firms recently issued reports on PAYC. Needham & Company LLC lifted their price objective on Paycom Software from $495.00 to $640.00 and gave the company a “buy” rating in a research report on Wednesday, November 3rd. Zacks Investment Research lowered Paycom Software from a “hold” rating to a “sell” rating and set a $360.00 price objective on the stock. in a research note on Friday. Deutsche Bank Aktiengesellschaft assumed coverage on Paycom Software in a research note on Monday, November 1st. They set a “buy” rating and a $655.00 price target on the stock. Piper Sandler lowered their price target on Paycom Software from $622.00 to $498.00 and set an “overweight” rating on the stock in a research note on Thursday. Finally, Barclays decreased their price objective on Paycom Software from $565.00 to $392.00 in a report on Wednesday. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $512.86.

Shares of PAYC opened at $333.99 on Friday. Paycom Software, Inc. has a 12 month low of $302.44 and a 12 month high of $558.97. The firm’s 50 day moving average is $425.58 and its 200-day moving average is $451.06. The stock has a market capitalization of $20.05 billion, a PE ratio of 113.22, a P/E/G ratio of 3.29 and a beta of 1.45. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.03.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings data on Tuesday, November 2nd. The software maker reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.32. The business had revenue of $256.19 million for the quarter, compared to analysts’ expectations of $250.26 million. Paycom Software had a net margin of 17.31% and a return on equity of 22.57%. During the same period last year, the firm posted $0.47 earnings per share. Equities research analysts predict that Paycom Software, Inc. will post 3.16 earnings per share for the current fiscal year.

About Paycom Software

Paycom Software, Inc provides comprehensive, cloud-based human capital management (HCM) software solutions delivered as Software-as-a-Service. It provides functionality and data analytics that businesses need to manage the complete employment life cycle from recruitment to retirement. Its solutions requires virtually no customization and is based on a core system of record maintained in a single database for all HCM functions, including talent acquisition, time and labor management, payroll, talent management and human resources management applications.

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Institutional Ownership by Quarter for Paycom Software (NYSE:PAYC)

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