Paycom Software Inc (PAYC) Holdings Reduced by California State Teachers Retirement System

Saturday, June 30 2018

Paycom Software Inc (PAYC) Holdings Reduced by California State Teachers Retirement System

Posted by Anna Parker Philips on Jun 30th, 2018 // No Comments
California State Teachers Retirement System trimmed its holdings in shares of Paycom Software Inc (NYSE:PAYC) by 3.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 75,106 shares of the software maker’s stock after selling 2,633 shares during the period. California State Teachers Retirement System owned approximately 0.13% of Paycom Software worth $8,066,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of PAYC. Kayne Anderson Rudnick Investment Management LLC boosted its stake in Paycom Software by 11.3% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 817,595 shares of the software maker’s stock valued at $87,802,000 after purchasing an additional 83,185 shares during the last quarter. Prudential Financial Inc. lifted its holdings in shares of Paycom Software by 1,168.4% during the 1st quarter. Prudential Financial Inc. now owns 80,036 shares of the software maker’s stock valued at $8,595,000 after buying an additional 73,726 shares during the period. Echo Street Capital Management LLC bought a new position in shares of Paycom Software during the 1st quarter valued at $6,772,000. Federated Investors Inc. PA lifted its holdings in shares of Paycom Software by 92.1% during the 1st quarter. Federated Investors Inc. PA now owns 129,911 shares of the software maker’s stock valued at $13,951,000 after buying an additional 62,285 shares during the period. Finally, DE Burlo Group Inc. bought a new position in shares of Paycom Software during the 1st quarter valued at $5,047,000. Institutional investors and hedge funds own 82.41% of the company’s stock. Get Paycom Software alerts:
In related news, insider Jeffrey D. York sold 50,000 shares of the firm’s stock in a transaction on Monday, April 2nd. The stock was sold at an average price of $104.27, for a total value of $5,213,500.00. The sale was disclosed in a legal filing with the SEC, which is available through this link . Also, insider Stacey M. Pezold sold 58,000 shares of the firm’s stock in a transaction on Monday, April 16th. The stock was sold at an average price of $111.20, for a total value of $6,449,600.00. The disclosure for this sale can be found here . Over the last ninety days, insiders sold 144,100 shares of company stock worth $15,594,731. 16.24% of the stock is owned by insiders. Shares of Paycom Software stock opened at $98.83 on Friday. Paycom Software Inc has a one year low of $64.50 and a one year high of $118.45. The firm has a market capitalization of $5.75 billion, a P/E ratio of 112.31, a P/E/G ratio of 2.18 and a beta of 1.41. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.10.
Paycom Software (NYSE:PAYC) last announced its earnings results on Tuesday, May 1st. The software maker reported $0.95 EPS for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.05. Paycom Software had a return on equity of 42.85% and a net margin of 17.62%. The company had revenue of $153.92 million for the quarter, compared to analysts’ expectations of $151.42 million. During the same period last year, the firm earned $0.47 EPS. Paycom Software’s revenue for the quarter was up 28.8% compared to the same quarter last year. analysts forecast that Paycom Software Inc will post 1.83 earnings per share for the current year.
Several research firms have recently weighed in on PAYC. ValuEngine cut Paycom Software from a “buy” rating to a “hold” rating in a report on Wednesday. Zacks Investment Research cut Paycom Software from a “buy” rating to a “hold” rating in a report on Friday, May 4th. Canaccord Genuity reissued a “buy” rating and set a $125.00 price target on shares of Paycom Software in a report on Wednesday, May 2nd. Credit Suisse Group increased their price target on Paycom Software from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Wednesday, May 2nd. Finally, Barclays increased their price target on Paycom Software from $115.00 to $117.00 and gave the company an “equal weight” rating in a report on Wednesday, May 2nd. Nine investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $102.29.
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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