Rhumbline Advisers lessened its stake in shares of Paycom Software Inc (NYSE:PAYC) by 15.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 48,277 shares of the software maker’s stock after selling 9,061 shares during the period. Rhumbline Advisers’ holdings in Paycom Software were worth $3,878,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Aperio Group LLC purchased a new stake in Paycom Software during the 4th quarter valued at about $201,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Paycom Software by 49.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,743 shares of the software maker’s stock valued at $220,000 after acquiring an additional 908 shares in the last quarter. Cetera Advisors LLC purchased a new stake in Paycom Software during the 4th quarter valued at about $241,000. Winslow Evans & Crocker Inc. purchased a new stake in Paycom Software during the 4th quarter valued at about $283,000. Finally, Zweig DiMenna Associates LLC purchased a new stake in Paycom Software during the 3rd quarter valued at about $277,000. Hedge funds and other institutional investors own 87.73% of the company’s stock.
Several analysts recently issued reports on PAYC shares. Zacks Investment Research raised shares of Paycom Software from a “hold” rating to a “strong-buy” rating and set a $97.00 price objective for the company in a research note on Friday, February 9th. Northland Securities set a $101.00 price target on shares of Paycom Software and gave the company a “buy” rating in a research note on Thursday, January 11th. KeyCorp reissued a “buy” rating and issued a $105.00 price target on shares of Paycom Software in a research note on Monday, February 12th. Credit Suisse Group increased their price target on shares of Paycom Software from $82.00 to $85.00 and gave the company a “neutral” rating in a research note on Wednesday, February 7th. Finally, Bank of America increased their price target on shares of Paycom Software from $92.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, February 7th. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. Paycom Software presently has an average rating of “Buy” and a consensus price target of $89.78.
Paycom Software Inc (PAYC) opened at $109.52 on Wednesday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.25. Paycom Software Inc has a fifty-two week low of $53.70 and a fifty-two week high of $111.42. The company has a market cap of $6,500.00, a P/E ratio of 96.92, a PEG ratio of 2.31 and a beta of 1.55.
Paycom Software (NYSE:PAYC) last issued its quarterly earnings data on Tuesday, February 6th. The software maker reported $0.29 EPS for the quarter, topping the consensus estimate of $0.24 by $0.05. Paycom Software had a net margin of 15.43% and a return on equity of 46.27%. The firm had revenue of $114.00 million for the quarter, compared to analyst estimates of $113.01 million. During the same period in the prior year, the business posted $0.18 EPS. The business’s revenue for the quarter was up 29.8% compared to the same quarter last year. research analysts anticipate that Paycom Software Inc will post 1.85 earnings per share for the current year.
Paycom Software announced that its board has initiated a share buyback program on Tuesday, February 13th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the software maker to purchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
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Paycom Software Company Profile
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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