GYL Financial Synergies LLC bought a new position in Paycom Software Inc (NYSE:PAYC) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 4,361 shares of the software maker’s stock, valued at approximately $825,000.
A number of other institutional investors have also recently modified their holdings of the stock. GWM Advisors LLC raised its position in Paycom Software by 34.2% in the 1st quarter. GWM Advisors LLC now owns 2,498 shares of the software maker’s stock worth $472,000 after purchasing an additional 637 shares during the period. American Capital Management Inc. purchased a new position in shares of Paycom Software during the first quarter worth approximately $2,647,000. Archford Capital Strategies LLC increased its position in shares of Paycom Software by 4.0% during the first quarter. Archford Capital Strategies LLC now owns 6,993 shares of the software maker’s stock worth $1,323,000 after acquiring an additional 266 shares during the period. Trexquant Investment LP purchased a new position in shares of Paycom Software during the first quarter worth approximately $1,317,000. Finally, Private Advisor Group LLC purchased a new position in shares of Paycom Software during the first quarter worth approximately $975,000. 74.38% of the stock is owned by institutional investors.
In related news, COO Jon Evans sold 2,047 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $200.30, for a total transaction of $410,014.10. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Jeffrey D. York sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $204.37, for a total transaction of $5,109,250.00. The disclosure for this sale can be found here. Insiders sold a total of 32,020 shares of company stock worth $6,495,618 over the last three months. Insiders own 16.09% of the company’s stock.
Paycom Software (NYSE:PAYC) last posted its earnings results on Tuesday, April 30th. The software maker reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.07). The firm had revenue of $199.90 million during the quarter, compared to analyst estimates of $195.53 million. Paycom Software had a net margin of 23.38% and a return on equity of 39.02%. The business’s revenue for the quarter was up 29.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.95 earnings per share. Analysts expect that Paycom Software Inc will post 2.6 EPS for the current year.
A number of equities analysts have recently issued reports on PAYC shares. Barclays increased their price objective on shares of Paycom Software from $175.00 to $185.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 1st. ValuEngine upgraded shares of Paycom Software from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 7th. Canaccord Genuity lifted their price objective on shares of Paycom Software from $160.00 to $195.00 and gave the stock a “hold” rating in a research note on Thursday, May 2nd. KeyCorp lifted their price objective on shares of Paycom Software from $210.00 to $215.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Finally, Oppenheimer raised their target price on shares of Paycom Software from $175.00 to $220.00 and gave the stock an “outperform” rating in a 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 given a strong buy rating to the company’s stock. Paycom Software currently has an average rating of “Hold” and a consensus price target of $188.08.
About Paycom Software
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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