Texas Permanent School Fund lifted its holdings in Paycom Software, Inc. (NYSE:PAYC – Get Rating) by 8.1% during the third quarter, HoldingsChannel reports. The firm owned 6,878 shares of the software maker’s stock after purchasing an additional 518 shares during the period. Texas Permanent School Fund’s holdings in Paycom Software were worth $2,270,000 as of its most recent filing with the SEC.
A number of other institutional investors have also made changes to their positions in PAYC. Allianz Asset Management GmbH increased its stake in shares of Paycom Software by 297.5% in the second quarter. Allianz Asset Management GmbH now owns 578,175 shares of the software maker’s stock worth $161,958,000 after purchasing an additional 432,727 shares during the period. FMR LLC increased its stake in Paycom Software by 130.8% during the second quarter. FMR LLC now owns 700,963 shares of the software maker’s stock valued at $196,353,000 after acquiring an additional 397,296 shares during the period. Goldman Sachs Group Inc. increased its stake in Paycom Software by 47.8% during the first quarter. Goldman Sachs Group Inc. now owns 877,824 shares of the software maker’s stock valued at $304,061,000 after acquiring an additional 283,892 shares during the period. Alyeska Investment Group L.P. increased its stake in Paycom Software by 156.4% during the first quarter. Alyeska Investment Group L.P. now owns 456,317 shares of the software maker’s stock valued at $158,059,000 after acquiring an additional 278,342 shares during the period. Finally, Waratah Capital Advisors Ltd. increased its stake in Paycom Software by 96.8% during the second quarter. Waratah Capital Advisors Ltd. now owns 327,532 shares of the software maker’s stock valued at $91,638,000 after acquiring an additional 161,069 shares during the period. 88.58% of the stock is currently owned by institutional investors.
Paycom Software Stock Up 2.1 %
NYSE:PAYC opened at $292.59 on Tuesday. The stock’s fifty day moving average price is $316.72 and its two-hundred day moving average price is $330.17. Paycom Software, Inc. has a 52-week low of $255.82 and a 52-week high of $402.78. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.17 and a current ratio of 1.17. The company has a market cap of $17.56 billion, a price-to-earnings ratio of 67.89, a P/E/G ratio of 1.95 and a beta of 1.38.
Paycom Software (NYSE:PAYC – Get Rating) last posted its quarterly earnings data on Tuesday, November 1st. The software maker reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.11. Paycom Software had a return on equity of 24.24% and a net margin of 19.40%. The firm had revenue of $334.17 million for the quarter, compared to the consensus estimate of $328.09 million. On average, analysts anticipate that Paycom Software, Inc. will post 4.67 EPS for the current year.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on PAYC. Cowen boosted their price target on Paycom Software from $365.00 to $381.00 in a research note on Wednesday, November 2nd. Moffett Nathanson began coverage on Paycom Software in a research note on Monday. They set an “underperform” rating and a $310.00 price target on the stock. Citigroup lifted their price objective on Paycom Software from $393.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, November 2nd. Credit Suisse Group lifted their price objective on Paycom Software from $425.00 to $430.00 and gave the company an “outperform” rating in a report on Wednesday, November 2nd. Finally, Cowen lifted their price objective on Paycom Software from $365.00 to $381.00 in a report on Wednesday, November 2nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, Paycom Software has an average rating of “Moderate Buy” and a consensus price target of $385.41.
About Paycom Software
Paycom Software, Inc provides cloud-based human capital management (HCM) solution delivered as software-as-a-service for small to mid-sized companies in the United States. It offers functionality and data analytics that businesses need to manage the employment life cycle from recruitment to retirement.
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