Paycom Software Inc (PAYC) Position Reduced by Bridgecreek Investment Management LLC
Bridgecreek Investment Management LLC decreased its stake in shares of Paycom Software Inc (NYSE:PAYC) by 2.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 147,450 shares of the software maker’s stock after selling 3,890 shares during the quarter. Paycom Software makes up about 2.8% of Bridgecreek Investment Management LLC’s investment portfolio, making the stock its 3rd largest position. Bridgecreek Investment Management LLC’s holdings in Paycom Software were worth $11,845,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. PNC Financial Services Group Inc. increased its stake in Paycom Software by 7.2% during the second quarter. PNC Financial Services Group Inc. now owns 2,220 shares of the software maker’s stock worth $152,000 after acquiring an additional 150 shares during the last quarter. Fortaleza Asset Management Inc. acquired a new stake in Paycom Software during the third quarter worth $164,000. Aperio Group LLC acquired a new stake in Paycom Software during the fourth quarter worth $201,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Paycom Software by 49.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,743 shares of the software maker’s stock worth $220,000 after acquiring an additional 908 shares during the last quarter. Finally, Concorde Asset Management LLC acquired a new stake in Paycom Software during the third quarter worth $254,000. Hedge funds and other institutional investors own 87.88% of the company’s stock.
Several research firms have issued reports on PAYC. Mizuho reissued a “neutral” rating and set a $80.00 target price (down previously from $85.00) on shares of Paycom Software in a research note on Wednesday. Robert W. Baird reissued an “outperform” rating and set a $92.00 target price (up previously from $82.00) on shares of Paycom Software in a research note on Wednesday. They noted that the move was a valuation call. Stifel Nicolaus raised their target price on Paycom Software from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Wednesday. Bank of America raised their target price on Paycom Software from $92.00 to $105.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, Barclays raised their target price on Paycom Software from $96.00 to $97.00 and gave the stock an “overweight” rating in a research note on Wednesday. Six research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. Paycom Software currently has a consensus rating of “Buy” and an average target price of $87.39.
Shares of Paycom Software Inc (NYSE:PAYC) opened at $84.50 on Thursday. Paycom Software Inc has a one year low of $44.25 and a one year high of $93.61. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.21. The firm has a market capitalization of $5,000.00, a price-to-earnings ratio of 79.72, a PEG ratio of 2.72 and a beta of 1.70.
Paycom Software (NYSE:PAYC) last issued its quarterly earnings data on Tuesday, February 6th. The software maker reported $0.29 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.05. Paycom Software had a return on equity of 44.27% and a net margin of 15.37%. The business had revenue of $114.00 million during the quarter, compared to analysts’ expectations of $113.01 million. During the same period in the previous year, the firm posted $0.18 earnings per share. The company’s revenue was up 29.8% on a year-over-year basis. sell-side analysts predict that Paycom Software Inc will post 0.82 EPS for the current fiscal year.
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Paycom Software Company Profile
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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