Tocqueville Asset Management L.P. lowered its position in Paycom Software Inc. (NYSE:PAYC) by 4.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 247,515 shares of the company’s stock after selling 11,250 shares during the period. Tocqueville Asset Management L.P.’s holdings in Paycom Software were worth $10,695,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the company. RS Investment Management Co. LLC raised its position in shares of Paycom Software by 15.2% in the second quarter. RS Investment Management Co. LLC now owns 885,154 shares of the company’s stock worth $38,248,000 after buying an additional 116,486 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its position in shares of Paycom Software by 0.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 833,514 shares of the company’s stock worth $29,673,000 after buying an additional 6,202 shares in the last quarter. Hamilton Lane Advisors LLC acquired a new position in shares of Paycom Software during the second quarter worth $10,094,000. Henderson Group PLC acquired a new position in shares of Paycom Software during the second quarter worth $10,215,000. Finally, Public Employees Retirement Association of Colorado raised its position in shares of Paycom Software by 27.4% in the second quarter. Public Employees Retirement Association of Colorado now owns 181,600 shares of the company’s stock worth $7,847,000 after buying an additional 39,100 shares in the last quarter. Hedge funds and other institutional investors own 80.38% of the company’s stock.
Shares of Paycom Software Inc. (NYSE:PAYC) traded up 0.32% during midday trading on Monday, reaching $49.86. 339,387 shares of the company were exchanged. The company has a 50 day moving average price of $49.97 and a 200-day moving average price of $44.18. Paycom Software Inc. has a 12-month low of $22.42 and a 12-month high of $52.93. The stock has a market capitalization of $2.87 billion, a P/E ratio of 78.03 and a beta of 2.02.
Paycom Software (NYSE:PAYC) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $0.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.08. The company earned $73.88 million during the quarter, compared to the consensus estimate of $70.34 million. Paycom Software had a return on equity of 33.66% and a net margin of 13.36%. The firm’s revenue was up 50.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.10 EPS. On average, analysts forecast that Paycom Software Inc. will post $0.77 earnings per share for the current fiscal year.
PAYC has been the subject of a number of research reports. Barclays PLC reiterated an “overweight” rating and set a $55.00 target price (up previously from $51.00) on shares of Paycom Software in a research report on Tuesday, September 13th. TheStreet lowered shares of Paycom Software from a “buy” rating to a “hold” rating in a research report on Wednesday, August 3rd. Canaccord Genuity reiterated a “buy” rating and set a $55.00 target price on shares of Paycom Software in a research report on Thursday, August 4th. Royal Bank Of Canada initiated coverage on shares of Paycom Software in a research report on Friday, September 30th. They set a “sector perform” rating and a $54.00 target price for the company. Finally, Credit Suisse Group AG reiterated a “buy” rating and set a $51.00 target price on shares of Paycom Software in a research report on Monday, August 22nd. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $52.38.
In related news, CFO Craig E. Boelte sold 40,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 30th. The stock was sold at an average price of $51.29, for a total transaction of $2,051,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider William X. Kerber III sold 55,000 shares of the business’s stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $52.08, for a total value of $2,864,400.00. The disclosure for this sale can be found here. Corporate insiders own 18.70% of the company’s stock.
About Paycom Software
Paycom Software, Inc (Paycom) is a provider of cloud-based human capital management (HCM) software solution delivered as software as a service (SaaS). The Company’s solution is based on a system of record maintained in a single database for all HCM functions, including talent acquisition, time and labor management, payroll, talent management and human resources (HR) management applications.