Prudential Financial Inc. lifted its stake in shares of Paycom Software Inc (NYSE:PAYC) by 3.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 23,060 shares of the software maker’s stock after acquiring an additional 820 shares during the quarter. Prudential Financial Inc.’s holdings in Paycom Software were worth $5,228,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of PAYC. BlackRock Inc. increased its holdings in Paycom Software by 0.6% during the first quarter. BlackRock Inc. now owns 2,225,342 shares of the software maker’s stock valued at $420,878,000 after buying an additional 12,749 shares during the period. Kayne Anderson Rudnick Investment Management LLC increased its holdings in Paycom Software by 1.7% during the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,997,361 shares of the software maker’s stock valued at $377,761,000 after buying an additional 32,751 shares during the period. Jackson Square Partners LLC increased its holdings in Paycom Software by 7.4% during the first quarter. Jackson Square Partners LLC now owns 848,952 shares of the software maker’s stock valued at $160,562,000 after buying an additional 58,293 shares during the period. Geode Capital Management LLC increased its holdings in Paycom Software by 5.2% during the fourth quarter. Geode Capital Management LLC now owns 505,767 shares of the software maker’s stock valued at $61,930,000 after buying an additional 24,903 shares during the period. Finally, First Trust Advisors LP increased its holdings in Paycom Software by 29.1% during the second quarter. First Trust Advisors LP now owns 383,463 shares of the software maker’s stock valued at $86,939,000 after buying an additional 86,364 shares during the period. 72.73% of the stock is currently owned by institutional investors and hedge funds.
In other news, COO Jon Evans sold 2,100 shares of Paycom Software stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $240.47, for a total transaction of $504,987.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jeffrey D. York sold 25,000 shares of Paycom Software stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $232.84, for a total transaction of $5,821,000.00. The disclosure for this sale can be found here. 16.09% of the stock is owned by company insiders.
Paycom Software (NYSE:PAYC) last announced its earnings results on Tuesday, July 30th. The software maker reported $0.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.14. The company had revenue of $169.30 million during the quarter, compared to the consensus estimate of $163.88 million. Paycom Software had a net margin of 23.93% and a return on equity of 38.25%. Paycom Software’s revenue was up 31.4% compared to the same quarter last year. During the same period last year, the firm earned $0.59 earnings per share. On average, equities research analysts anticipate that Paycom Software Inc will post 2.74 EPS for the current year.
Several equities analysts recently issued reports on PAYC shares. Mizuho started coverage on shares of Paycom Software in a report on Wednesday, August 21st. They set a “neutral” rating and a $240.00 price objective on the stock. Bank of America reissued a “neutral” rating and set a $250.00 price objective (up from $215.00) on shares of Paycom Software in a report on Wednesday, July 31st. ValuEngine lowered shares of Paycom Software from a “buy” rating to a “hold” rating in a report on Wednesday. Needham & Company LLC lifted their price objective on shares of Paycom Software from $230.00 to $280.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, Northland Securities lifted their price objective on shares of Paycom Software from $215.00 to $275.00 and gave the company an “outperform” rating in a report on Tuesday, July 9th. Ten research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $226.79.
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.
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