Voloridge Investment Management LLC raised its position in Paycom Software Inc (NYSE:PAYC) by 107.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,470 shares of the software maker’s stock after acquiring an additional 6,447 shares during the quarter. Voloridge Investment Management LLC’s holdings in Paycom Software were worth $2,612,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the business. CSat Investment Advisory L.P. acquired a new stake in Paycom Software during the 2nd quarter valued at $34,000. FTB Advisors Inc. boosted its position in Paycom Software by 106.5% in the 3rd quarter. FTB Advisors Inc. now owns 190 shares of the software maker’s stock valued at $39,000 after buying an additional 98 shares during the last quarter. Riverhead Capital Management LLC purchased a new position in Paycom Software in the 2nd quarter valued at about $45,000. Quest Capital Management Inc. ADV purchased a new position in Paycom Software in the 3rd quarter valued at about $43,000. Finally, Ruggie Capital Group acquired a new stake in shares of Paycom Software during the second quarter valued at about $58,000. 69.90% of the stock is owned by institutional investors.
In other Paycom Software news, insider Jeffrey D. York sold 25,000 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $212.78, for a total transaction of $5,319,500.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 16.09% of the company’s stock.
Paycom Software (NYSE:PAYC) last announced its quarterly earnings data on Tuesday, October 29th. The software maker reported $0.70 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.12. Paycom Software had a return on equity of 38.52% and a net margin of 23.99%. The firm had revenue of $175.00 million for the quarter, compared to analysts’ expectations of $171.46 million. During the same quarter in the prior year, the firm posted $0.52 earnings per share. Paycom Software’s revenue for the quarter was up 31.3% compared to the same quarter last year. On average, equities research analysts forecast that Paycom Software Inc will post 2.81 EPS for the current fiscal year.
PAYC has been the topic of a number of analyst reports. Zacks Investment Research raised Paycom Software from a “hold” rating to a “buy” rating and set a $259.00 target price on the stock in a research report on Wednesday, August 21st. Mizuho initiated coverage on Paycom Software in a report on Wednesday, August 21st. They issued a “neutral” rating and a $240.00 price target for the company. ValuEngine upgraded Paycom Software from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. KeyCorp dropped their price objective on Paycom Software from $275.00 to $261.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Finally, Northland Securities restated a “buy” rating and set a $275.00 price objective on shares of Paycom Software in a report on Tuesday, September 24th. Nine research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Paycom Software presently has an average rating of “Hold” and a consensus price target of $237.47.
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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