Toronto Dominion Bank lessened its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 13.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 23,815 shares of the software maker’s stock after selling 3,796 shares during the quarter. Toronto Dominion Bank’s holdings in Paycom Software were worth $8,812,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in the company. MUFG Americas Holdings Corp bought a new position in shares of Paycom Software in the 4th quarter valued at $25,000. Winslow Evans & Crocker Inc. lifted its holdings in shares of Paycom Software by 17.9% during the fourth quarter. Winslow Evans & Crocker Inc. now owns 825 shares of the software maker’s stock worth $373,000 after purchasing an additional 125 shares during the period. State of Wisconsin Investment Board grew its stake in shares of Paycom Software by 67.6% in the fourth quarter. State of Wisconsin Investment Board now owns 63,406 shares of the software maker’s stock worth $28,675,000 after purchasing an additional 25,577 shares during the last quarter. National Asset Management Inc. increased its holdings in Paycom Software by 13.3% in the fourth quarter. National Asset Management Inc. now owns 8,835 shares of the software maker’s stock valued at $3,996,000 after purchasing an additional 1,037 shares during the period. Finally, Maryland State Retirement & Pension System bought a new position in Paycom Software during the 4th quarter worth $300,000. Institutional investors own 72.16% of the company’s stock.
Several research firms have recently weighed in on PAYC. Cowen increased their price objective on shares of Paycom Software from $437.00 to $475.00 and gave the stock an “outperform” rating in a research report on Thursday, February 11th. Jefferies Financial Group upgraded Paycom Software from a “hold” rating to a “buy” rating and set a $470.00 price target for the company in a report on Friday, March 5th. Barclays dropped their price objective on Paycom Software from $468.00 to $425.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 15th. Royal Bank of Canada lifted their target price on Paycom Software from $430.00 to $470.00 and gave the stock an “outperform” rating in a report on Wednesday, May 5th. Finally, Mizuho dropped their price target on Paycom Software from $400.00 to $360.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 5th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $422.76.
Paycom Software stock opened at $335.41 on Friday. The company has a market capitalization of $20.19 billion, a price-to-earnings ratio of 134.70, a price-to-earnings-growth ratio of 4.66 and a beta of 1.39. The firm has a fifty day simple moving average of $353.71. Paycom Software, Inc. has a 1-year low of $257.87 and a 1-year high of $471.08. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.08 and a quick ratio of 1.08.
Paycom Software (NYSE:PAYC) last announced its quarterly earnings results on Tuesday, May 4th. The software maker reported $1.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.37. The business had revenue of $272.20 million for the quarter, compared to analysts’ expectations of $271.47 million. Paycom Software had a net margin of 16.65% and a return on equity of 20.54%. The firm’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.33 EPS. As a group, sell-side analysts forecast that Paycom Software, Inc. will post 2.89 earnings per share for the current fiscal year.
Paycom Software announced that its Board of Directors has approved a share buyback plan on Thursday, May 13th that allows the company to buyback $300.00 million in outstanding shares. This buyback authorization allows the software maker to purchase up to 1.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.
Paycom Software Company Profile
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.
Further Reading: Green Investing
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