Paycom Software, Inc. (PAYC) Position Boosted by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its holdings in Paycom Software, Inc. (NYSE:PAYC) by 96.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,172,756 shares of the software maker’s stock after buying an additional 574,658 shares during the quarter. JPMorgan Chase & Co. owned about 2.01% of Paycom Software worth $87,664,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of PAYC. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Paycom Software by 10.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,835 shares of the software maker’s stock valued at $126,000 after purchasing an additional 167 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in Paycom Software by 7.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,220 shares of the software maker’s stock valued at $152,000 after purchasing an additional 150 shares in the last quarter. Fortaleza Asset Management Inc. bought a new position in Paycom Software during the 3rd quarter valued at $164,000. Raymond James Trust N.A. bought a new position in Paycom Software during the 2nd quarter valued at $203,000. Finally, Fiduciary Trust Co. bought a new position in Paycom Software during the 2nd quarter valued at $215,000. 88.54% of the stock is owned by institutional investors and hedge funds.

PAYC has been the subject of a number of research reports. Dougherty & Co initiated coverage on Paycom Software in a research note on Tuesday, October 31st. They set a “buy” rating and a $100.00 price target for the company. Robert W. Baird reaffirmed a “buy” rating and set a $78.00 price target on shares of Paycom Software in a research note on Tuesday, September 12th. Jefferies Group increased their price target on Paycom Software from $85.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, November 1st. Northland Securities set a $85.00 price target on Paycom Software and gave the company a “buy” rating in a research note on Wednesday, November 1st. Finally, Wells Fargo & Company set a $89.00 price target on Paycom Software and gave the company a “buy” rating in a research note on Wednesday, November 1st. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $83.44.

In other news, CFO Craig E. Boelte sold 11,000 shares of the stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $74.72, for a total value of $821,920.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jeffrey D. York sold 40,000 shares of the stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $74.81, for a total value of $2,992,400.00. The disclosure for this sale can be found here. 17.90% of the stock is currently owned by corporate insiders.

Shares of Paycom Software, Inc. (PAYC) traded down $3.87 during trading hours on Tuesday, hitting $76.66. The stock had a trading volume of 844,300 shares, compared to its average volume of 592,414. Paycom Software, Inc. has a one year low of $42.52 and a one year high of $86.10. The firm has a market cap of $4,540.00, a P/E ratio of 75.26, a PEG ratio of 3.46 and a beta of 1.68. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.05 and a quick ratio of 1.05.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings data on Tuesday, October 31st. The software maker reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.10. Paycom Software had a return on equity of 44.27% and a net margin of 15.37%. The company had revenue of $101.30 million during the quarter, compared to the consensus estimate of $100.47 million. During the same quarter in the prior year, the firm earned $0.15 EPS. The company’s quarterly revenue was up 31.0% compared to the same quarter last year. research analysts expect that Paycom Software, Inc. will post 0.82 earnings per share for the current fiscal year.

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About Paycom Software

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

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