Paycom Software Inc (PAYC) Shares Sold by Alps Advisors Inc.

Alps Advisors Inc. cut its stake in shares of Paycom Software Inc (NYSE:PAYC) by 22.7% during the first quarter, Holdings Channel reports. The institutional investor owned 2,210 shares of the software maker’s stock after selling 648 shares during the quarter. Alps Advisors Inc.’s holdings in Paycom Software were worth $418,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Legal & General Group Plc raised its position in Paycom Software by 3.9% in the third quarter. Legal & General Group Plc now owns 23,359 shares of the software maker’s stock valued at $3,630,000 after purchasing an additional 885 shares during the last quarter. Federated Investors Inc. PA raised its position in Paycom Software by 254.2% in the third quarter. Federated Investors Inc. PA now owns 32,762 shares of the software maker’s stock valued at $5,092,000 after purchasing an additional 23,512 shares during the last quarter. Vanguard Group Inc raised its position in Paycom Software by 2.2% in the third quarter. Vanguard Group Inc now owns 4,348,359 shares of the software maker’s stock valued at $675,778,000 after purchasing an additional 93,152 shares during the last quarter. Navellier & Associates Inc raised its position in Paycom Software by 2.5% in the fourth quarter. Navellier & Associates Inc now owns 38,300 shares of the software maker’s stock valued at $4,690,000 after purchasing an additional 951 shares during the last quarter. Finally, Boston Advisors LLC raised its position in Paycom Software by 36.2% in the fourth quarter. Boston Advisors LLC now owns 2,424 shares of the software maker’s stock valued at $297,000 after purchasing an additional 644 shares during the last quarter. 78.57% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts have recently issued reports on PAYC shares. KeyCorp raised their price objective on Paycom Software from $133.00 to $182.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 6th. Royal Bank of Canada raised their price objective on Paycom Software to $139.00 and gave the stock a “market perform” rating in a research report on Monday, February 4th. They noted that the move was a valuation call. Jefferies Financial Group raised their price objective on Paycom Software to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, February 6th. Canaccord Genuity raised their price objective on Paycom Software from $140.00 to $160.00 and gave the stock a “hold” rating in a research report on Wednesday, February 6th. They noted that the move was a valuation call. Finally, ValuEngine upgraded Paycom Software from a “hold” rating to a “buy” rating in a research report on Saturday, January 19th. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $185.69.

Shares of PAYC opened at $203.28 on Wednesday. Paycom Software Inc has a 1 year low of $96.44 and a 1 year high of $210.55. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.08. The stock has a market cap of $11.83 billion, a PE ratio of 93.25, a P/E/G ratio of 3.17 and a beta of 1.80.

Paycom Software (NYSE:PAYC) last issued its quarterly earnings data on Tuesday, April 30th. The software maker reported $0.82 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.89 by ($0.07). The company had revenue of $199.90 million for the quarter, compared to the consensus estimate of $195.53 million. Paycom Software had a return on equity of 39.02% and a net margin of 23.38%. Paycom Software’s revenue was up 29.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.95 earnings per share. On average, research analysts anticipate that Paycom Software Inc will post 2.6 EPS for the current fiscal year.

In other Paycom Software news, COO Jon Evans sold 2,373 shares of Paycom Software stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $191.27, for a total value of $453,883.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Bradley Scott Smith sold 2,600 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $181.53, for a total value of $471,978.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,020 shares of company stock valued at $3,448,236. 16.09% of the stock is currently owned by corporate insiders.

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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 Gainers

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

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