Russell Investments Group Ltd. Sells 22,991 Shares of Paycom Software Inc (PAYC)

Russell Investments Group Ltd. reduced its position in shares of Paycom Software Inc (NYSE:PAYC) by 42.4% in the third quarter, HoldingsChannel.com reports. The firm owned 31,292 shares of the software maker’s stock after selling 22,991 shares during the quarter. Russell Investments Group Ltd.’s holdings in Paycom Software were worth $4,863,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in PAYC. Keybank National Association OH grew its stake in shares of Paycom Software by 10.8% during the 2nd quarter. Keybank National Association OH now owns 4,262 shares of the software maker’s stock valued at $421,000 after acquiring an additional 414 shares during the period. Bank of Montreal Can grew its stake in shares of Paycom Software by 3.3% during the 3rd quarter. Bank of Montreal Can now owns 13,652 shares of the software maker’s stock valued at $2,122,000 after acquiring an additional 442 shares during the period. Creative Planning grew its stake in shares of Paycom Software by 5.8% during the 3rd quarter. Creative Planning now owns 8,445 shares of the software maker’s stock valued at $1,312,000 after acquiring an additional 461 shares during the period. Xact Kapitalforvaltning AB grew its stake in shares of Paycom Software by 7.6% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 7,037 shares of the software maker’s stock valued at $695,000 after acquiring an additional 500 shares during the period. Finally, Legal & General Group Plc grew its stake in shares of Paycom Software by 2.5% during the 2nd quarter. Legal & General Group Plc now owns 22,474 shares of the software maker’s stock valued at $2,221,000 after acquiring an additional 541 shares during the period. Institutional investors and hedge funds own 79.89% of the company’s stock.

A number of research analysts recently issued reports on PAYC shares. Zacks Investment Research upgraded Paycom Software from a “hold” rating to a “strong-buy” rating and set a $155.00 price objective for the company in a research note on Friday, August 3rd. Barclays boosted their price objective on Paycom Software from $131.00 to $151.00 and gave the company an “equal weight” rating in a research note on Friday, September 7th. Guggenheim started coverage on Paycom Software in a research note on Monday, August 20th. They set a “neutral” rating and a $140.00 price objective for the company. Bank of America downgraded Paycom Software from a “buy” rating to a “neutral” rating and set a $160.00 price objective for the company. in a research note on Wednesday, September 26th. They noted that the move was a valuation call. Finally, Canaccord Genuity downgraded Paycom Software from a “buy” rating to a “hold” rating and boosted their price objective for the company from $130.00 to $150.00 in a research note on Monday, October 1st. They noted that the move was a valuation call. Ten analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $126.82.

In related news, CFO Craig E. Boelte sold 12,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $155.63, for a total value of $1,867,560.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Kathy Oden-Hall sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, October 5th. The stock was sold at an average price of $140.21, for a total value of $280,420.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 69,200 shares of company stock worth $10,579,076. 16.24% of the stock is owned by insiders.

NYSE PAYC opened at $119.15 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.08 and a current ratio of 1.08. Paycom Software Inc has a 12 month low of $75.39 and a 12 month high of $164.08. The company has a market capitalization of $6.98 billion, a P/E ratio of 61.74, a price-to-earnings-growth ratio of 2.16 and a beta of 1.83.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings results on Tuesday, October 30th. The software maker reported $0.52 EPS for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.01. Paycom Software had a return on equity of 39.19% and a net margin of 22.37%. The company had revenue of $133.29 million for the quarter, compared to analysts’ expectations of $130.52 million. During the same period in the previous year, the firm earned $0.39 EPS. The firm’s revenue was up 31.6% compared to the same quarter last year. As a group, equities analysts forecast that Paycom Software Inc will post 2.15 earnings per share for the current year.

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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: How to calculate the intrinsic value of a stock

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

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