Stevens Capital Management LP bought a new position in Paycom Software, Inc. (NYSE:PAYC) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 16,121 shares of the software maker’s stock, valued at approximately $1,103,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Amalgamated Bank increased its position in shares of Paycom Software by 16.6% in the 2nd quarter. Amalgamated Bank now owns 6,288 shares of the software maker’s stock worth $430,000 after purchasing an additional 895 shares during the last quarter. BlackRock Inc. increased its position in shares of Paycom Software by 12.7% in the 2nd quarter. BlackRock Inc. now owns 3,001,044 shares of the software maker’s stock worth $205,302,000 after purchasing an additional 338,351 shares during the last quarter. Nationwide Fund Advisors increased its position in shares of Paycom Software by 33.1% in the 2nd quarter. Nationwide Fund Advisors now owns 356,991 shares of the software maker’s stock worth $24,422,000 after purchasing an additional 88,747 shares during the last quarter. Origin Asset Management LLP increased its position in shares of Paycom Software by 3.8% in the 2nd quarter. Origin Asset Management LLP now owns 112,064 shares of the software maker’s stock worth $7,666,000 after purchasing an additional 4,064 shares during the last quarter. Finally, TIAA CREF Investment Management LLC increased its position in shares of Paycom Software by 11.9% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 132,900 shares of the software maker’s stock worth $9,092,000 after purchasing an additional 14,144 shares during the last quarter. 86.05% of the stock is owned by institutional investors.

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In other news, insider Stacey M. Pezold sold 10,000 shares of the stock in a transaction on Friday, September 1st. The shares were sold at an average price of $75.02, for a total value of $750,200.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Craig E. Boelte sold 11,000 shares of the stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $74.72, for a total transaction of $821,920.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 61,000 shares of company stock valued at $4,249,320. Corporate insiders own 17.90% of the company’s stock.

Shares of Paycom Software, Inc. (PAYC) opened at 76.08 on Friday. The company’s 50 day moving average is $72.34 and its 200-day moving average is $65.84. The company has a market cap of $4.41 billion, a P/E ratio of 82.52 and a beta of 1.75. Paycom Software, Inc. has a 12 month low of $39.15 and a 12 month high of $76.75.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings data on Tuesday, August 1st. The software maker reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.11. Paycom Software had a net margin of 14.28% and a return on equity of 35.77%. The company had revenue of $98.20 million during the quarter, compared to analysts’ expectations of $95.98 million. During the same quarter in the prior year, the company posted $0.21 EPS. The business’s revenue was up 32.9% on a year-over-year basis. Analysts expect that Paycom Software, Inc. will post $1.15 EPS for the current fiscal year.

Several research firms have recently weighed in on PAYC. Canaccord Genuity boosted their target price on shares of Paycom Software from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. KeyCorp boosted their target price on shares of Paycom Software to $94.00 in a research report on Wednesday, August 2nd. Northland Securities began coverage on shares of Paycom Software in a research report on Thursday. They issued an “outperform” rating and a $85.00 target price for the company. Royal Bank Of Canada reissued a “sector perform” rating and issued a $74.00 target price (up previously from $67.00) on shares of Paycom Software in a research report on Wednesday, August 2nd. Finally, Oppenheimer Holdings, Inc. boosted their target price on shares of Paycom Software from $65.00 to $75.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 2nd. Four equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $76.63.

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

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