Raymond James Trust N.A. Reduces Holdings in Paycom Software Inc (PAYC)

Raymond James Trust N.A. cut its position in Paycom Software Inc (NYSE:PAYC) by 14.9% in the 1st quarter, Holdings Channel reports. The firm owned 1,448 shares of the software maker’s stock after selling 254 shares during the period. Raymond James Trust N.A.’s holdings in Paycom Software were worth $274,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc raised its position in shares of Paycom Software by 2.2% during the third quarter. Vanguard Group Inc now owns 4,348,359 shares of the software maker’s stock worth $675,778,000 after acquiring an additional 93,152 shares during the last quarter. Vanguard Group Inc. grew its stake in Paycom Software by 2.2% during the third quarter. Vanguard Group Inc. now owns 4,348,359 shares of the software maker’s stock worth $675,778,000 after purchasing an additional 93,152 shares during the period. BlackRock Inc. grew its stake in Paycom Software by 1.1% during the fourth quarter. BlackRock Inc. now owns 2,212,593 shares of the software maker’s stock worth $270,933,000 after purchasing an additional 23,876 shares during the period. Kayne Anderson Rudnick Investment Management LLC grew its stake in Paycom Software by 72.6% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,964,610 shares of the software maker’s stock worth $240,566,000 after purchasing an additional 826,529 shares during the period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its stake in Paycom Software by 1.2% during the first quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 900,333 shares of the software maker’s stock worth $170,280,000 after purchasing an additional 10,900 shares during the period. Hedge funds and other institutional investors own 78.69% of the company’s stock.

Several research firms recently commented on PAYC. Zacks Investment Research raised Paycom Software from a “hold” rating to a “buy” rating and set a $212.00 target price for the company in a research note on Thursday. Barclays raised their target price on Paycom Software from $160.00 to $175.00 and gave the stock an “equal weight” rating in a research note on Friday, April 12th. Robert W. Baird raised their target price on Paycom Software from $134.00 to $175.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 6th. Bank of America raised their target price on Paycom Software from $147.00 to $166.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 6th. Finally, Jefferies Financial Group raised their target price on Paycom Software to $210.00 and gave the stock a “buy” rating in a research note on Monday, March 4th. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Paycom Software presently has an average rating of “Hold” and a consensus target price of $157.00.

Shares of Paycom Software stock opened at $188.95 on Monday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.10. Paycom Software Inc has a 52 week low of $96.44 and a 52 week high of $193.75. The company has a market capitalization of $11.05 billion, a price-to-earnings ratio of 86.67, a PEG ratio of 2.87 and a beta of 1.82.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings data on Tuesday, February 5th. The software maker reported $0.61 EPS for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.13. Paycom Software had a return on equity of 38.83% and a net margin of 24.20%. The firm had revenue of $150.33 million during the quarter, compared to analysts’ expectations of $144.10 million. During the same quarter last year, the firm posted $0.90 earnings per share. The company’s revenue for the quarter was up 31.8% compared to the same quarter last year. As a group, research analysts predict that Paycom Software Inc will post 2.63 EPS for the current year.

In related news, insider Bradley Scott Smith sold 2,600 shares of Paycom Software stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $181.53, for a total transaction of $471,978.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Jon Evans sold 2,373 shares of Paycom Software stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $191.27, for a total value of $453,883.71. The disclosure for this sale can be found here. Insiders sold 41,973 shares of company stock valued at $7,387,222 in the last three months. Insiders own 16.09% of the company’s stock.

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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.

Further Reading: Percentage Decliners

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

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