Navellier & Associates Inc Sells 2,395 Shares of Paycom Software Inc (NYSE:PAYC)

Navellier & Associates Inc lessened its position in shares of Paycom Software Inc (NYSE:PAYC) by 3.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 66,805 shares of the software maker’s stock after selling 2,395 shares during the quarter. Paycom Software makes up 2.3% of Navellier & Associates Inc’s holdings, making the stock its 5th biggest position. Navellier & Associates Inc’s holdings in Paycom Software were worth $13,995,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in PAYC. Winslow Evans & Crocker Inc. lifted its holdings in Paycom Software by 3.3% during the third quarter. Winslow Evans & Crocker Inc. now owns 3,850 shares of the software maker’s stock valued at $808,000 after purchasing an additional 124 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Paycom Software by 2.8% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 2,709 shares of the software maker’s stock valued at $567,000 after purchasing an additional 73 shares in the last quarter. SeaCrest Wealth Management LLC lifted its holdings in Paycom Software by 28.0% during the third quarter. SeaCrest Wealth Management LLC now owns 3,455 shares of the software maker’s stock valued at $724,000 after purchasing an additional 755 shares in the last quarter. Alpine Group USVI LLC purchased a new position in Paycom Software during the third quarter valued at $443,000. Finally, Gateway Investment Advisers LLC lifted its holdings in Paycom Software by 6.9% during the third quarter. Gateway Investment Advisers LLC now owns 11,166 shares of the software maker’s stock valued at $2,339,000 after purchasing an additional 718 shares in the last quarter. Institutional investors own 72.77% of the company’s stock.

In other Paycom Software news, insider Jeffrey D. York sold 25,000 shares of Paycom Software stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $232.84, for a total transaction of $5,821,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 16.09% of the stock is owned by company insiders.

Several equities analysts have issued reports on the stock. KeyCorp reaffirmed an “overweight” rating on shares of Paycom Software in a report on Wednesday, September 25th. Needham & Company LLC increased their price objective on shares of Paycom Software from $230.00 to $280.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Cantor Fitzgerald assumed coverage on shares of Paycom Software in a report on Tuesday, June 18th. They set a “neutral” rating on the stock. Zacks Investment Research raised shares of Paycom Software from a “hold” rating to a “buy” rating and set a $259.00 price objective on the stock in a report on Wednesday, August 21st. Finally, Northland Securities reaffirmed a “buy” rating and set a $275.00 price objective on shares of Paycom Software in a report on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $226.79.

PAYC stock traded down $9.36 during trading on Wednesday, reaching $211.52. 29,649 shares of the stock were exchanged, compared to its average volume of 571,968. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.07. The business has a 50 day moving average price of $223.68 and a 200-day moving average price of $219.11. Paycom Software Inc has a 1 year low of $107.46 and a 1 year high of $259.71. The firm has a market capitalization of $12.51 billion, a price-to-earnings ratio of 97.06, a P/E/G ratio of 2.91 and a beta of 1.38.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings results on Tuesday, July 30th. The software maker reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.14. Paycom Software had a net margin of 23.93% and a return on equity of 38.25%. The business had revenue of $169.30 million during the quarter, compared to analysts’ expectations of $163.88 million. During the same period last year, the business earned $0.59 earnings per share. The business’s revenue for the quarter was up 31.4% on a year-over-year basis. On average, research analysts anticipate that Paycom Software Inc will post 2.75 EPS for the current year.

Paycom Software Company 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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