2,693 Shares in Paycom Software Inc (PAYC) Purchased by Raymond James Trust N.A.

Raymond James Trust N.A. bought a new position in shares of Paycom Software Inc (NYSE:PAYC) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,693 shares of the software maker’s stock, valued at approximately $419,000.

A number of other large investors have also modified their holdings of the business. Bank of Montreal Can boosted its position in shares of Paycom Software by 136.5% during the second quarter. Bank of Montreal Can now owns 13,210 shares of the software maker’s stock worth $1,306,000 after buying an additional 7,624 shares during the period. Cornerstone Wealth Management LLC bought a new stake in Paycom Software during the second quarter worth approximately $195,000. Alps Advisors Inc. raised its holdings in Paycom Software by 43.4% during the second quarter. Alps Advisors Inc. now owns 6,294 shares of the software maker’s stock worth $506,000 after purchasing an additional 1,904 shares in the last quarter. Eqis Capital Management Inc. raised its holdings in Paycom Software by 24.2% during the second quarter. Eqis Capital Management Inc. now owns 5,996 shares of the software maker’s stock worth $593,000 after purchasing an additional 1,170 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D raised its holdings in Paycom Software by 29.3% during the second quarter. State of New Jersey Common Pension Fund D now owns 42,400 shares of the software maker’s stock worth $4,190,000 after purchasing an additional 9,600 shares in the last quarter. Hedge funds and other institutional investors own 77.29% of the company’s stock.

Several equities research analysts recently commented on the company. ValuEngine raised Paycom Software from a “hold” rating to a “buy” rating in a report on Monday, November 26th. Zacks Investment Research reissued a “buy” rating and set a $141.00 target price on shares of Paycom Software in a report on Wednesday, November 14th. Credit Suisse Group boosted their target price on Paycom Software from $110.00 to $125.00 and gave the stock a “neutral” rating in a report on Wednesday, October 31st. Needham & Company LLC boosted their target price on Paycom Software to $150.00 and gave the stock a “buy” rating in a report on Wednesday, October 31st. Finally, Canaccord Genuity dropped their target price on Paycom Software from $150.00 to $140.00 and set a “hold” rating on the stock in a report on Wednesday, October 31st. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Paycom Software has a consensus rating of “Buy” and a consensus price target of $126.82.

In other Paycom Software news, insider Kathy Oden-Hall sold 2,000 shares of the company’s stock in a transaction on Friday, October 5th. The stock was sold at an average price of $140.21, for a total value of $280,420.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Bradley Scott Smith sold 5,200 shares of the company’s stock in a transaction on Monday, September 24th. The shares were sold at an average price of $154.73, for a total value of $804,596.00. The disclosure for this sale can be found here. Insiders sold 69,200 shares of company stock worth $10,579,076 in the last ninety days. 16.24% of the stock is owned by corporate insiders.

NYSE PAYC opened at $132.77 on Monday. The firm has a market capitalization of $7.78 billion, a price-to-earnings ratio of 150.88, a P/E/G ratio of 2.41 and a beta of 1.83. Paycom Software Inc has a 1 year low of $75.39 and a 1 year high of $164.08. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.09.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings results on Tuesday, October 30th. The software maker reported $0.52 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.01. The company had revenue of $133.29 million for the quarter, compared to analysts’ expectations of $130.52 million. Paycom Software had a return on equity of 39.19% and a net margin of 22.37%. The firm’s revenue was up 31.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.39 earnings per share. As a group, analysts anticipate that Paycom Software Inc will post 2.15 EPS for the current year.

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Paycom Software 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.

Further Reading: Federal Reserve

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

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