American International Group Inc. boosted its position in Paycom Software, Inc. (NYSE:PAYC) by 5.4% during the first quarter, Holdings Channel reports. The firm owned 26,676 shares of the software maker’s stock after buying an additional 1,366 shares during the period. American International Group Inc.’s holdings in Paycom Software were worth $1,534,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Ladenburg Thalmann Financial Services Inc. increased its position in shares of Paycom Software by 144.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,201 shares of the software maker’s stock worth $146,000 after buying an additional 1,893 shares during the period. Strs Ohio increased its position in shares of Paycom Software by 342.9% in the first quarter. Strs Ohio now owns 3,100 shares of the software maker’s stock worth $178,000 after buying an additional 2,400 shares during the period. Ameritas Investment Partners Inc. purchased a new position in shares of Paycom Software during the first quarter worth approximately $219,000. Eqis Capital Management Inc. purchased a new position in shares of Paycom Software during the first quarter worth approximately $240,000. Finally, Blair William & Co. IL purchased a new position in shares of Paycom Software during the first quarter worth approximately $243,000. 90.50% of the stock is currently owned by institutional investors.

Institutional Ownership by Quarter for Paycom Software (NYSE:PAYC)

Shares of Paycom Software, Inc. (NYSE:PAYC) opened at 71.79 on Friday. Paycom Software, Inc. has a 1-year low of $38.94 and a 1-year high of $72.80. The stock has a 50 day moving average of $66.01 and a 200-day moving average of $55.70. The stock has a market capitalization of $4.16 billion, a P/E ratio of 83.77 and a beta of 1.77.

Paycom Software (NYSE:PAYC) last released its earnings results on Tuesday, May 2nd. The software maker reported $0.44 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.07. Paycom Software had a net margin of 14.19% and a return on equity of 33.01%. The business had revenue of $119.51 million for the quarter, compared to analysts’ expectations of $115.70 million. Equities research analysts predict that Paycom Software, Inc. will post $1.09 earnings per share for the current fiscal year.

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A number of equities analysts have commented on the stock. TheStreet raised shares of Paycom Software from a “c” rating to a “b+” rating in a research note on Monday, April 17th. Jefferies Group LLC reaffirmed a “buy” rating and set a $73.00 target price on shares of Paycom Software in a research note on Thursday, June 8th. Wells Fargo & Company assumed coverage on shares of Paycom Software in a research note on Thursday, May 11th. They set an “outperform” rating and a $75.00 target price on the stock. Wunderlich lifted their target price on shares of Paycom Software from $62.00 to $73.00 and gave the stock a “buy” rating in a research note on Wednesday, May 3rd. Finally, Zacks Investment Research raised shares of Paycom Software from a “sell” rating to a “buy” rating and set a $64.00 price target on the stock in a research note on Tuesday, April 11th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Paycom Software has an average rating of “Buy” and an average target price of $61.42.

In related news, insider Stacey M. Pezold sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, June 19th. The shares were sold at an average price of $70.15, for a total value of $2,104,500.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Jeffrey D. York sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, April 17th. The stock was sold at an average price of $58.01, for a total transaction of $2,320,400.00. The disclosure for this sale can be found here. 17.90% of the stock is currently owned by company insiders.

About Paycom Software

Paycom Software, Inc is a provider of a cloud-based human capital management (HCM) software solution delivered as Software-as-a-Service (SaaS). The Company provides functionality and data analytics that businesses need to manage the complete employment life cycle from recruitment to retirement. The Company’s applications streamline client processes and provide clients and their employees with the ability to directly access and manage administrative processes, including applications that identify candidates, on-board employees, manage time and labor, administer payroll deductions and benefits, manage performance, terminate employees and administer post-termination health benefits, such as COBRA.

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