Schwab Charles Investment Management Inc. lifted its position in Paycom Software Inc (NYSE:PAYC) by 14.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 214,375 shares of the software maker’s stock after purchasing an additional 26,586 shares during the quarter. Schwab Charles Investment Management Inc. owned about 0.37% of Paycom Software worth $16,070,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of PAYC. Renaissance Group LLC lifted its position in shares of Paycom Software by 0.7% during the second quarter. Renaissance Group LLC now owns 6,156 shares of the software maker’s stock worth $421,000 after purchasing an additional 42 shares in the last quarter. 1st Global Advisors Inc. raised its holdings in Paycom Software by 1.4% in the second quarter. 1st Global Advisors Inc. now owns 5,567 shares of the software maker’s stock valued at $381,000 after acquiring an additional 75 shares in the last quarter. Suntrust Banks Inc. raised its holdings in Paycom Software by 0.6% in the second quarter. Suntrust Banks Inc. now owns 14,130 shares of the software maker’s stock valued at $966,000 after acquiring an additional 91 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in Paycom Software by 7.2% in the second quarter. PNC Financial Services Group Inc. now owns 2,220 shares of the software maker’s stock valued at $152,000 after acquiring an additional 150 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Paycom Software by 10.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,835 shares of the software maker’s stock valued at $126,000 after acquiring an additional 167 shares in the last quarter. 88.41% of the stock is currently owned by institutional investors.
Several analysts recently weighed in on the stock. Robert W. Baird reaffirmed a “buy” rating and issued a $82.00 target price on shares of Paycom Software in a report on Wednesday, November 1st. Credit Suisse Group cut shares of Paycom Software from an “outperform” rating to a “neutral” rating and set a $78.00 target price on the stock. in a report on Wednesday, November 1st. Jefferies Group raised their target price on shares of Paycom Software from $85.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, November 1st. Northland Securities set a $85.00 target price on shares of Paycom Software and gave the company a “buy” rating in a report on Wednesday, November 1st. Finally, KeyCorp reiterated a “hold” rating on shares of Paycom Software in a research note on Wednesday, November 1st. Five analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $83.44.
Paycom Software (NYSE:PAYC) last released its quarterly earnings results on Tuesday, October 31st. The software maker reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.10. The business had revenue of $101.30 million during the quarter, compared to the consensus estimate of $100.47 million. Paycom Software had a return on equity of 44.27% and a net margin of 15.37%. The business’s revenue was up 31.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.15 EPS. research analysts forecast that Paycom Software Inc will post 0.82 earnings per share for the current fiscal year.
In other Paycom Software news, CFO Craig E. Boelte sold 11,000 shares of Paycom Software stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $78.92, for a total value of $868,120.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jeffrey D. York sold 40,000 shares of Paycom Software stock in a transaction dated 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. Company insiders own 17.90% of the company’s stock.
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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