Envestnet Asset Management Inc. boosted its stake in Paycom Software Inc (NYSE:PAYC) by 5.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,258 shares of the software maker’s stock after acquiring an additional 2,815 shares during the quarter. Envestnet Asset Management Inc. owned 0.10% of Paycom Software worth $10,640,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Kayne Anderson Rudnick Investment Management LLC increased its stake in shares of Paycom Software by 72.6% during the 4th quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,964,610 shares of the software maker’s stock worth $240,566,000 after purchasing an additional 826,529 shares during the last quarter. Norges Bank acquired a new position in Paycom Software in the 4th quarter valued at about $51,092,000. Waratah Capital Advisors Ltd. grew its stake in Paycom Software by 330.8% in the 4th quarter. Waratah Capital Advisors Ltd. now owns 309,607 shares of the software maker’s stock valued at $37,911,000 after buying an additional 237,743 shares during the last quarter. Jennison Associates LLC grew its stake in Paycom Software by 47.4% in the 4th quarter. Jennison Associates LLC now owns 625,198 shares of the software maker’s stock valued at $76,555,000 after buying an additional 201,115 shares during the last quarter. Finally, First Trust Advisors LP grew its stake in Paycom Software by 114.4% in the 4th quarter. First Trust Advisors LP now owns 342,305 shares of the software maker’s stock valued at $41,915,000 after buying an additional 182,638 shares during the last quarter. 74.38% of the stock is currently owned by institutional investors and hedge funds.
Shares of PAYC stock traded up $0.28 during trading hours on Monday, reaching $227.00. The stock had a trading volume of 647,112 shares, compared to its average volume of 688,261. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.08. The stock has a fifty day simple moving average of $214.35. The firm has a market capitalization of $13.39 billion, a price-to-earnings ratio of 104.13, a PEG ratio of 3.24 and a beta of 1.64. Paycom Software Inc has a 12 month low of $97.18 and a 12 month high of $233.43.
In related news, COO Jon Evans sold 2,047 shares of Paycom Software stock in a transaction on Monday, May 13th. The stock was sold at an average price of $200.30, for a total value of $410,014.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Bradley Scott Smith sold 2,600 shares of Paycom Software stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $200.95, for a total value of $522,470.00. The disclosure for this sale can be found here. Insiders have sold 32,020 shares of company stock valued at $6,495,618 in the last three months. 16.09% of the stock is currently owned by company insiders.
PAYC has been the subject of a number of recent analyst reports. Jefferies Financial Group upped their price target on shares of Paycom Software to $210.00 and gave the stock a “buy” rating in a report on Monday, March 4th. Barclays upped their price target on shares of Paycom Software from $175.00 to $185.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 1st. ValuEngine upgraded shares of Paycom Software from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 7th. Canaccord Genuity increased their price objective on shares of Paycom Software from $160.00 to $195.00 and gave the stock a “hold” rating in a research report on Thursday, May 2nd. Finally, KeyCorp increased their price objective on shares of Paycom Software from $210.00 to $215.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Nine research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Paycom Software presently has an average rating of “Hold” and an average target price of $188.08.
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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