Tower Research Capital LLC TRC Invests $619,000 in Paycom Software Inc (NYSE:PAYC)

Tower Research Capital LLC TRC bought a new position in Paycom Software Inc (NYSE:PAYC) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,339 shares of the software maker’s stock, valued at approximately $619,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PAYC. Resources Management Corp CT ADV purchased a new stake in shares of Paycom Software in the third quarter worth $26,000. Allred Capital Management LLC purchased a new stake in shares of Paycom Software in the fourth quarter worth $26,000. Pacifica Partners Inc. purchased a new stake in shares of Paycom Software in the fourth quarter worth $26,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Paycom Software in the fourth quarter worth $38,000. Finally, FTB Advisors Inc. grew its stake in shares of Paycom Software by 106.5% in the third quarter. FTB Advisors Inc. now owns 190 shares of the software maker’s stock worth $39,000 after acquiring an additional 98 shares during the last quarter. 68.36% of the stock is currently owned by hedge funds and other institutional investors.

PAYC has been the topic of a number of recent research reports. Mizuho increased their target price on Paycom Software from $225.00 to $280.00 and gave the stock a “neutral” rating in a research note on Thursday, February 6th. Jefferies Financial Group increased their price objective on Paycom Software from $233.00 to $290.00 and gave the company a “hold” rating in a research report on Thursday, February 6th. Citigroup increased their price objective on Paycom Software from $302.00 to $367.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Royal Bank of Canada increased their price objective on Paycom Software from $278.00 to $345.00 and gave the company a “positive” rating in a research report on Thursday, February 6th. Finally, Robert W. Baird upped their target price on shares of Paycom Software from $245.00 to $310.00 and gave the company an “outperform” rating in a research note on Thursday, February 6th. Nine research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $286.75.

Paycom Software stock traded down $14.04 during mid-day trading on Thursday, reaching $310.44. 823,055 shares of the stock traded hands, compared to its average volume of 1,543,091. The stock has a market capitalization of $19.08 billion, a PE ratio of 100.47, a price-to-earnings-growth ratio of 3.46 and a beta of 1.24. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.07 and a quick ratio of 1.07. Paycom Software Inc has a 12-month low of $169.06 and a 12-month high of $342.00. The business’s 50-day moving average is $300.55 and its 200-day moving average is $252.17.

Paycom Software (NYSE:PAYC) last announced its earnings results on Wednesday, February 5th. The software maker reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.77 by $0.09. Paycom Software had a return on equity of 37.47% and a net margin of 24.48%. The business had revenue of $193.40 million for the quarter, compared to analysts’ expectations of $190.34 million. During the same period last year, the firm posted $0.61 earnings per share. The business’s revenue for the quarter was up 28.7% on a year-over-year basis. Equities analysts anticipate that Paycom Software Inc will post 3.35 EPS for the current fiscal year.

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

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