Xact Kapitalforvaltning AB bought a new stake in Paycom (NYSE:PAYC) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 4,437 shares of the software maker’s stock, valued at approximately $356,000.
Other hedge funds have also bought and sold shares of the company. Aperio Group LLC purchased a new position in shares of Paycom in the fourth quarter valued at $201,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Paycom by 49.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,743 shares of the software maker’s stock valued at $220,000 after purchasing an additional 908 shares in the last quarter. Ramsey Quantitative Systems purchased a new position in shares of Paycom in the fourth quarter valued at $237,000. Cetera Advisors LLC purchased a new position in shares of Paycom in the fourth quarter valued at $241,000. Finally, Polen Capital Management LLC purchased a new position in shares of Paycom in the fourth quarter valued at $276,000. 87.64% of the stock is owned by hedge funds and other institutional investors.
NYSE:PAYC opened at $107.18 on Monday. Paycom has a twelve month low of $57.24 and a twelve month high of $115.48. The firm has a market cap of $6,343.23, a PE ratio of 121.80, a price-to-earnings-growth ratio of 2.33 and a beta of 1.47. 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 announced that its board has authorized a stock repurchase plan on Tuesday, February 13th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the software maker to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
Several research analysts have commented on the stock. Oppenheimer lifted their price objective on shares of Paycom from $98.00 to $120.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 27th. Stifel Nicolaus lowered shares of Paycom from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $90.00 to $100.00 in a research note on Thursday, March 22nd. They noted that the move was a valuation call. KeyCorp reaffirmed an “overweight” rating and set a $127.00 price objective (up from $105.00) on shares of Paycom in a research note on Tuesday, March 13th. Zacks Investment Research raised shares of Paycom 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. Finally, Credit Suisse Group lifted their price objective on shares of Paycom from $82.00 to $85.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 7th. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $93.82.
In related news, Director Robert J. Levenson sold 3,004 shares of Paycom stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $100.93, for a total value of $303,193.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jeffrey D. York sold 50,000 shares of Paycom stock in a transaction dated Monday, April 2nd. The shares were sold at an average price of $104.27, for a total value of $5,213,500.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 104,750 shares of company stock valued at $10,603,528. Corporate insiders own 17.90% of the company’s stock.
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Paycom 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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