Paycom Software Inc. (PAYC) Stake Raised by JPMorgan Chase & Co.
JPMorgan Chase & Co. increased its stake in Paycom Software Inc. (NYSE:PAYC) by 50.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 239,321 shares of the company’s stock after buying an additional 80,431 shares during the period. JPMorgan Chase & Co. owned approximately 0.42% of Paycom Software worth $10,341,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. BlackRock Institutional Trust Company N.A. increased its stake in shares of Paycom Software by 0.7% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 833,514 shares of the company’s stock valued at $29,673,000 after buying an additional 6,202 shares during the period. RS Investment Management Co. LLC increased its stake in shares of Paycom Software by 15.2% in the second quarter. RS Investment Management Co. LLC now owns 885,154 shares of the company’s stock valued at $38,248,000 after buying an additional 116,486 shares during the period. BlackRock Group LTD increased its stake in shares of Paycom Software by 33.6% in the first quarter. BlackRock Group LTD now owns 21,140 shares of the company’s stock valued at $752,000 after buying an additional 5,315 shares during the period. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in shares of Paycom Software during the first quarter valued at about $656,000. Finally, Sapphire Star Partners LP increased its stake in shares of Paycom Software by 100.0% in the first quarter. Sapphire Star Partners LP now owns 12,772 shares of the company’s stock valued at $480,000 after buying an additional 6,386 shares during the period. Institutional investors and hedge funds own 80.42% of the company’s stock.
Paycom Software Inc. (NYSE:PAYC) traded up 0.598% during midday trading on Wednesday, reaching $49.635. The company’s stock had a trading volume of 66,265 shares. Paycom Software Inc. has a 1-year low of $22.42 and a 1-year high of $52.93. The firm has a market capitalization of $2.86 billion, a PE ratio of 77.676 and a beta of 2.01. The firm has a 50 day moving average price of $50.02 and a 200 day moving average price of $43.49.
Paycom Software (NYSE:PAYC) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.08. Paycom Software had a return on equity of 33.66% and a net margin of 13.36%. The firm had revenue of $73.88 million for the quarter, compared to analysts’ expectations of $70.34 million. During the same period in the prior year, the business posted $0.10 earnings per share. The business’s revenue was up 50.9% compared to the same quarter last year. On average, analysts predict that Paycom Software Inc. will post $0.77 EPS for the current year.
PAYC has been the subject of several recent research reports. Zacks Investment Research downgraded shares of Paycom Software from a “buy” rating to a “hold” rating in a research report on Thursday, August 11th. Barclays PLC reaffirmed an “overweight” rating and issued a $55.00 price objective (up previously from $51.00) on shares of Paycom Software in a research report on Tuesday, September 13th. Wunderlich reaffirmed a “buy” rating on shares of Paycom Software in a research report on Wednesday, July 6th. Stifel Nicolaus increased their price objective on shares of Paycom Software from $47.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, June 16th. Finally, TheStreet downgraded shares of Paycom Software from a “buy” rating to a “hold” rating in a research report on Wednesday, August 3rd. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $52.38.
In other Paycom Software news, CFO Craig E. Boelte sold 40,000 shares of the business’s stock in a transaction on Tuesday, August 30th. The stock was sold at an average price of $51.29, for a total value of $2,051,600.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider William X. Kerber III sold 55,000 shares of the business’s stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $52.08, for a total value of $2,864,400.00. The disclosure for this sale can be found here. 18.70% of the stock is owned by company insiders.
About Paycom Software
Paycom Software, Inc (Paycom) is a provider of cloud-based human capital management (HCM) software solution delivered as software as a service (SaaS). The Company’s solution is based on a system of record maintained in a single database for all HCM functions, including talent acquisition, time and labor management, payroll, talent management and human resources (HR) management applications.
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