Stifel Financial Corp boosted its position in shares of Paycom Software Inc (NYSE:PAYC) by 17.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,170 shares of the software maker’s stock after purchasing an additional 7,067 shares during the period. Stifel Financial Corp owned about 0.08% of Paycom Software worth $9,886,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in PAYC. CSat Investment Advisory L.P. bought a new position in shares of Paycom Software in the 2nd quarter valued at about $34,000. FTB Advisors Inc. grew its holdings in shares of Paycom Software by 106.5% in the 3rd quarter. FTB Advisors Inc. now owns 190 shares of the software maker’s stock valued at $39,000 after acquiring an additional 98 shares in the last quarter. Quest Capital Management Inc. ADV bought a new position in shares of Paycom Software in the 3rd quarter valued at about $43,000. Riverhead Capital Management LLC bought a new position in shares of Paycom Software in the 2nd quarter valued at about $45,000. Finally, Flagship Harbor Advisors LLC grew its holdings in shares of Paycom Software by 404.8% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 212 shares of the software maker’s stock valued at $48,000 after acquiring an additional 170 shares in the last quarter. Hedge funds and other institutional investors own 69.90% of the company’s stock.
Shares of NYSE:PAYC opened at $269.04 on Tuesday. Paycom Software Inc has a 52-week low of $111.48 and a 52-week high of $279.95. The company has a market capitalization of $16.17 billion, a P/E ratio of 123.41, a price-to-earnings-growth ratio of 3.58 and a beta of 1.32. The company has a 50-day simple moving average of $229.11 and a 200 day simple moving average of $227.42. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.10 and a current ratio of 1.10.
PAYC has been the subject of several analyst reports. Mizuho initiated coverage on Paycom Software in a report on Wednesday, August 21st. They issued a “neutral” rating and a $240.00 price objective for the company. KeyCorp decreased their price objective on Paycom Software from $275.00 to $261.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Northland Securities restated a “buy” rating and issued a $275.00 price objective on shares of Paycom Software in a report on Tuesday, September 24th. ValuEngine upgraded shares of Paycom Software from a “sell” rating to a “hold” rating in a research note on Thursday, November 14th. Finally, Zacks Investment Research upgraded shares of Paycom Software from a “hold” rating to a “buy” rating and set a $259.00 target price for the company in a research note on Wednesday, August 21st. Nine research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $237.47.
In other Paycom Software news, insider Jeffrey D. York sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $212.78, for a total transaction of $5,319,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 16.09% of the company’s stock.
About Paycom Software
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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