Waddell & Reed Financial Inc. Lowers Position in Paycom Software Inc (NYSE:PAYC)

Waddell & Reed Financial Inc. reduced its holdings in Paycom Software Inc (NYSE:PAYC) by 3.1% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 516,308 shares of the software maker’s stock after selling 16,250 shares during the quarter. Waddell & Reed Financial Inc. owned 0.88% of Paycom Software worth $51,027,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PAYC. Comerica Bank bought a new position in Paycom Software during the 1st quarter worth approximately $207,000. SG Americas Securities LLC lifted its stake in shares of Paycom Software by 21.4% in the 1st quarter. SG Americas Securities LLC now owns 11,530 shares of the software maker’s stock valued at $1,238,000 after purchasing an additional 2,032 shares during the period. Mackay Shields LLC bought a new position in Paycom Software during the 1st quarter valued at approximately $1,997,000. Prudential Financial Inc. increased its position in 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 in the last quarter. Finally, D.A. Davidson & CO. bought a new position in Paycom Software during the 1st quarter valued at approximately $204,000. Hedge funds and other institutional investors own 83.05% of the company’s stock.

NYSE PAYC opened at $134.77 on Tuesday. The firm has a market cap of $9.11 billion, a P/E ratio of 153.15, a P/E/G ratio of 2.88 and a beta of 1.63. 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 Inc has a fifty-two week low of $74.35 and a fifty-two week high of $164.08.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings data on Tuesday, July 31st. The software maker reported $0.54 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.18. Paycom Software had a return on equity of 42.01% and a net margin of 20.85%. The business had revenue of $128.80 million for the quarter, compared to the consensus estimate of $124.47 million. On average, equities research analysts anticipate that Paycom Software Inc will post 2.12 EPS for the current year.

PAYC has been the subject of a number of analyst reports. Bank of America raised their price objective on Paycom Software from $125.00 to $134.00 and gave the company a “buy” rating in a research report on Wednesday, August 1st. KeyCorp reissued a “buy” rating and issued a $133.00 target price on shares of Paycom Software in a report on Wednesday, August 1st. Needham & Company LLC assumed coverage on Paycom Software in a report on Wednesday, July 18th. They issued a “buy” rating and a $130.00 target price for the company. ValuEngine raised Paycom Software from a “hold” rating to a “buy” rating in a report on Wednesday, July 11th. Finally, Barclays lifted their target price on Paycom Software from $131.00 to $151.00 and gave the stock an “equal weight” rating in a report on Friday, September 7th. Ten research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $119.21.

In related news, COO Jon Evans sold 2,769 shares of the business’s stock in a transaction dated Monday, July 16th. The stock was sold at an average price of $110.18, for a total value of $305,088.42. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Craig E. Boelte sold 12,000 shares of the business’s stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $155.63, for a total value of $1,867,560.00. The disclosure for this sale can be found here. Insiders sold 81,737 shares of company stock worth $12,208,105 over the last 90 days. Company insiders own 16.24% of the company’s stock.

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

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