Karp Capital Management Corp decreased its position in shares of Paycom Software Inc (NYSE:PAYC) by 10.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,660 shares of the software maker’s stock after selling 930 shares during the quarter. Karp Capital Management Corp’s holdings in Paycom Software were worth $1,190,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Virginia Retirement Systems ET AL raised its holdings in shares of Paycom Software by 4.3% during the 3rd quarter. Virginia Retirement Systems ET AL now owns 17,000 shares of the software maker’s stock worth $2,642,000 after acquiring an additional 700 shares during the period. Verition Fund Management LLC purchased a new position in shares of Paycom Software during the 2nd quarter worth $1,020,000. Rational Advisors LLC purchased a new position in shares of Paycom Software during the 2nd quarter worth $148,000. Oakbrook Investments LLC purchased a new position in shares of Paycom Software during the 3rd quarter worth $241,000. Finally, Raymond James & Associates raised its holdings in shares of Paycom Software by 123.7% during the 2nd quarter. Raymond James & Associates now owns 39,660 shares of the software maker’s stock worth $3,920,000 after acquiring an additional 21,933 shares during the period. 77.29% of the stock is currently owned by institutional investors and hedge funds.
Several research firms have recently commented on PAYC. ValuEngine upgraded Paycom Software from a “hold” rating to a “buy” rating in a report on Monday, November 26th. Credit Suisse Group lifted their price target on Paycom Software from $110.00 to $125.00 and gave the stock a “neutral” rating in a report on Wednesday, October 31st. Jefferies Financial Group lifted their price target on Paycom Software to $139.00 and gave the stock a “buy” rating in a report on Wednesday, October 31st. Bank of America lowered Paycom Software from a “buy” rating to a “neutral” rating and set a $160.00 price target on the stock. in a report on Wednesday, September 26th. They noted that the move was a valuation call. Finally, Barclays lifted their price target on Paycom Software from $131.00 to $151.00 and gave the stock an “equal weight” rating in a report on Friday, September 7th. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $126.82.
Paycom Software (NYSE:PAYC) last issued its quarterly earnings data on Tuesday, October 30th. The software maker reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.01. The firm had revenue of $133.29 million during the quarter, compared to the consensus estimate of $130.52 million. Paycom Software had a return on equity of 39.19% and a net margin of 22.37%. The company’s quarterly revenue was up 31.6% on a year-over-year basis. During the same period last year, the company earned $0.39 EPS. On average, sell-side analysts forecast that Paycom Software Inc will post 2.15 EPS for the current year.
In other Paycom Software news, insider Jeffrey D. York sold 50,000 shares of Paycom Software stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $152.53, for a total value of $7,626,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Kathy Oden-Hall sold 2,000 shares of Paycom Software stock in a transaction dated Friday, October 5th. The shares were sold at an average price of $140.21, for a total value of $280,420.00. The disclosure for this sale can be found here. Insiders have sold a total of 57,200 shares of company stock valued at $8,711,516 over the last three months. Corporate insiders own 16.24% of the company’s stock.
Paycom Software Company 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.
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