Paycom Software, Inc. (NYSE:PAYC) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its position in shares of Paycom Software, Inc. (NYSE:PAYCGet Rating) by 0.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 71,569 shares of the software maker’s stock after selling 630 shares during the period. Principal Financial Group Inc. owned 0.12% of Paycom Software worth $29,715,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of PAYC. Morgan Stanley grew its stake in shares of Paycom Software by 17.9% during the second quarter. Morgan Stanley now owns 155,018 shares of the software maker’s stock worth $56,344,000 after purchasing an additional 23,571 shares in the last quarter. Moors & Cabot Inc. acquired a new position in shares of Paycom Software during the third quarter worth $25,000. Mackenzie Financial Corp grew its stake in shares of Paycom Software by 24.2% during the third quarter. Mackenzie Financial Corp now owns 3,181 shares of the software maker’s stock worth $1,577,000 after purchasing an additional 619 shares in the last quarter. First Horizon Advisors Inc. lifted its position in Paycom Software by 153.8% in the third quarter. First Horizon Advisors Inc. now owns 99 shares of the software maker’s stock valued at $49,000 after acquiring an additional 60 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its position in Paycom Software by 4.8% in the third quarter. CIBC Asset Management Inc now owns 4,825 shares of the software maker’s stock valued at $2,392,000 after acquiring an additional 222 shares during the last quarter. Hedge funds and other institutional investors own 87.12% of the company’s stock.

Shares of NYSE:PAYC opened at $288.56 on Friday. The company has a 50-day simple moving average of $317.81 and a 200-day simple moving average of $369.63. Paycom Software, Inc. has a one year low of $259.95 and a one year high of $558.97. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.08 and a current ratio of 1.08. The stock has a market capitalization of $17.39 billion, a price-to-earnings ratio of 75.15, a PEG ratio of 2.64 and a beta of 1.54.

Paycom Software (NYSE:PAYCGet Rating) last announced its earnings results on Tuesday, May 3rd. The software maker reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.75 by $0.15. The business had revenue of $353.52 million during the quarter, compared to analysts’ expectations of $343.20 million. Paycom Software had a net margin of 19.64% and a return on equity of 25.12%. The business’s revenue was up 29.9% compared to the same quarter last year. During the same period in the prior year, the company earned $1.10 earnings per share. As a group, research analysts forecast that Paycom Software, Inc. will post 4.3 EPS for the current fiscal year.

In related news, CFO Craig E. Boelte sold 2,709 shares of the stock in a transaction dated Wednesday, May 11th. The shares were sold at an average price of $275.24, for a total transaction of $745,625.16. Following the completion of the transaction, the chief financial officer now directly owns 260,773 shares of the company’s stock, valued at $71,775,160.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Holly Faurot sold 194 shares of the stock in a transaction dated Monday, May 9th. The stock was sold at an average price of $280.32, for a total transaction of $54,382.08. Following the transaction, the insider now directly owns 45,180 shares of the company’s stock, valued at $12,664,857.60. The disclosure for this sale can be found here. Insiders have sold 14,290 shares of company stock valued at $3,934,164 over the last three months. 15.20% of the stock is currently owned by corporate insiders.

PAYC has been the subject of a number of research reports. Zacks Investment Research cut shares of Paycom Software from a “hold” rating to a “sell” rating and set a $360.00 price target for the company. in a research report on Friday, January 14th. Mizuho boosted their price target on shares of Paycom Software from $325.00 to $350.00 and gave the company a “neutral” rating in a research report on Wednesday, February 9th. Oppenheimer reduced their price target on shares of Paycom Software from $415.00 to $350.00 in a research report on Wednesday, May 4th. BMO Capital Markets initiated coverage on shares of Paycom Software in a research report on Tuesday, February 1st. They issued a “market perform” rating and a $335.00 price target for the company. Finally, KeyCorp reduced their price target on shares of Paycom Software from $575.00 to $400.00 and set an “overweight” rating for the company in a research report on Tuesday, January 25th. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $396.29.

About Paycom Software (Get Rating)

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.

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

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