Mutual of America Capital Management LLC boosted its holdings in shares of Paycom Software, Inc. (NYSE:PAYC – Get Rating) by 2.2% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 6,566 shares of the software maker’s stock after acquiring an additional 140 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Paycom Software were worth $1,839,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. Oppenheimer & Co. Inc. boosted its stake in Paycom Software by 1.3% in the second quarter. Oppenheimer & Co. Inc. now owns 2,634 shares of the software maker’s stock valued at $738,000 after acquiring an additional 35 shares in the last quarter. YorkBridge Wealth Partners LLC boosted its stake in Paycom Software by 3.8% in the second quarter. YorkBridge Wealth Partners LLC now owns 1,092 shares of the software maker’s stock valued at $306,000 after acquiring an additional 40 shares in the last quarter. Hartford Investment Management Co. boosted its stake in Paycom Software by 0.9% in the second quarter. Hartford Investment Management Co. now owns 4,584 shares of the software maker’s stock valued at $1,284,000 after acquiring an additional 41 shares in the last quarter. Comerica Bank boosted its stake in Paycom Software by 0.8% in the second quarter. Comerica Bank now owns 6,014 shares of the software maker’s stock valued at $1,873,000 after acquiring an additional 45 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its stake in Paycom Software by 0.9% in the first quarter. CIBC Asset Management Inc now owns 5,062 shares of the software maker’s stock valued at $1,753,000 after acquiring an additional 46 shares in the last quarter. 74.43% of the stock is owned by hedge funds and other institutional investors.
Paycom Software Stock Up 2.5 %
PAYC opened at $327.21 on Friday. Paycom Software, Inc. has a fifty-two week low of $255.82 and a fifty-two week high of $457.70. 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 fifty day moving average of $328.38 and a two-hundred day moving average of $322.40. The stock has a market capitalization of $19.64 billion, a price-to-earnings ratio of 75.92, a PEG ratio of 2.74 and a beta of 1.39.
Paycom Software declared that its board has authorized a share repurchase plan on Monday, August 15th that permits the company to repurchase $1.10 billion in shares. This repurchase authorization permits the software maker to buy up to 4.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.
Analyst Ratings Changes
Several equities research analysts have recently commented on PAYC shares. Wolfe Research lifted their price objective on shares of Paycom Software from $400.00 to $410.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 2nd. Jefferies Financial Group reiterated a “buy” rating and set a $335.00 price objective on shares of Paycom Software in a research note on Wednesday, August 3rd. StockNews.com started coverage on shares of Paycom Software in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Stifel Nicolaus lifted their price objective on shares of Paycom Software from $375.00 to $400.00 in a research note on Wednesday, August 3rd. Finally, Citigroup lifted their price objective on shares of Paycom Software from $393.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday, November 2nd. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Paycom Software currently has a consensus rating of “Moderate Buy” and a consensus target price of $390.13.
Paycom Software Profile
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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