Chicago Equity Partners LLC purchased a new stake in shares of Paycom Software Inc (NYSE:PAYC) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,480 shares of the software maker’s stock, valued at approximately $230,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Truvestments Capital LLC bought a new stake in Paycom Software in the third quarter worth about $132,000. Hexavest Inc. bought a new stake in Paycom Software in the third quarter worth about $149,000. SeaCrest Wealth Management LLC raised its position in Paycom Software by 154.3% in the second quarter. SeaCrest Wealth Management LLC now owns 1,030 shares of the software maker’s stock worth $102,000 after acquiring an additional 625 shares during the period. Harvest Fund Management Co. Ltd bought a new stake in Paycom Software in the third quarter worth about $176,000. Finally, Point72 Asset Management L.P. bought a new stake in Paycom Software in the second quarter worth about $119,000. 82.83% of the stock is currently owned by institutional investors.

Several analysts have commented on PAYC shares. Jefferies Financial Group lifted their price objective on shares of Paycom Software to $139.00 and gave the stock a “buy” rating in a research report on Wednesday, October 31st. Bank of America lifted their price objective on shares of Paycom Software from $125.00 to $134.00 and gave the stock a “buy” rating in a research report on Wednesday, August 1st. KeyCorp reaffirmed a “buy” rating and issued a $133.00 price objective on shares of Paycom Software in a research report on Wednesday, August 1st. Needham & Company LLC lifted their price objective on shares of Paycom Software to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, October 31st. Finally, Zacks Investment Research reaffirmed a “buy” rating and issued a $141.00 price objective on shares of Paycom Software in a research report on Wednesday, November 14th. Nine investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $126.82.

In related news, Director Robert J. Levenson sold 4,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $144.19, for a total transaction of $648,855.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bradley Scott Smith sold 5,200 shares of the business’s stock in a transaction that occurred on Monday, September 24th. The shares were sold at an average price of $154.73, for a total transaction of $804,596.00. The disclosure for this sale can be found here. In the last three months, insiders sold 73,700 shares of company stock worth $11,227,931. Insiders own 16.24% of the company’s stock.

NYSE PAYC opened at $123.62 on Monday. Paycom Software Inc has a 12-month low of $75.39 and a 12-month high of $164.08. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.08 and a current ratio of 1.08. The company has a market capitalization of $7.25 billion, a PE ratio of 140.48, a price-to-earnings-growth ratio of 2.24 and a beta of 1.83.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings results on Tuesday, October 30th. The software maker reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.01. Paycom Software had a net margin of 22.37% and a return on equity of 39.19%. The company had revenue of $133.29 million for the quarter, compared to analyst estimates of $130.52 million. During the same quarter in the previous year, the firm posted $0.39 earnings per share. The company’s quarterly revenue was up 31.6% compared to the same quarter last year. Research analysts predict that Paycom Software Inc will post 2.15 earnings per share for the current fiscal year.

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About Paycom Software

Paycom Software, Inc provides cloud-based human capital management (HCM) software service for small to mid-sized companies in the United States. It provides functionality and data analytics that businesses need to manage the employment life cycle from recruitment to retirement. The company's HCM solution offers a suite of applications in the areas of talent acquisition, including applicant tracking, candidate tracker, background checks, on-boarding, e-verify, and tax credit services; and time and labor management, such as time and attendance, scheduling/schedule exchange, time-off requests, labor allocation, labor management reports/push reporting, and geofencing/geotracking.

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

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