Canal Capital Management LLC bought a new position in shares of Paycom Software Inc (NYSE:PAYC) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 775 shares of the software maker’s stock, valued at approximately $205,000.

Several other hedge funds have also recently bought and sold shares of the company. Colony Group LLC purchased a new position in Paycom Software in the 3rd quarter valued at about $1,939,000. Waratah Capital Advisors Ltd. lifted its stake in Paycom Software by 178.9% in the 3rd quarter. Waratah Capital Advisors Ltd. now owns 59,950 shares of the software maker’s stock valued at $12,559,000 after buying an additional 38,454 shares in the last quarter. Pictet Asset Management Ltd. purchased a new position in Paycom Software in the 2nd quarter valued at about $4,104,000. Dupont Capital Management Corp lifted its stake in Paycom Software by 55.7% in the 3rd quarter. Dupont Capital Management Corp now owns 3,454 shares of the software maker’s stock valued at $724,000 after buying an additional 1,236 shares in the last quarter. Finally, Cubist Systematic Strategies LLC lifted its stake in Paycom Software by 49.9% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 20,297 shares of the software maker’s stock valued at $4,602,000 after buying an additional 6,756 shares in the last quarter. 69.70% of the stock is currently owned by institutional investors and hedge funds.

In other news, insider Jeffrey D. York sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $212.78, for a total transaction of $5,319,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 16.09% of the stock is owned by company insiders.

Shares of NYSE PAYC traded up $3.54 during midday trading on Tuesday, reaching $299.78. 462,481 shares of the stock were exchanged, compared to its average volume of 455,406. The company has a 50 day simple moving average of $272.92 and a 200 day simple moving average of $241.46. The stock has a market capitalization of $17.30 billion, a P/E ratio of 105.19, a PEG ratio of 2.96 and a beta of 1.27. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.10 and a current ratio of 1.10. Paycom Software Inc has a twelve month low of $134.50 and a twelve month high of $301.21.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings results on Tuesday, October 29th. The software maker reported $0.70 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.12. The business had revenue of $175.00 million during the quarter, compared to the consensus estimate of $171.46 million. Paycom Software had a net margin of 23.99% and a return on equity of 38.52%. The business’s revenue was up 31.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.52 EPS. On average, research analysts expect that Paycom Software Inc will post 2.81 earnings per share for the current year.

PAYC has been the topic of a number of research reports. Royal Bank of Canada raised shares of Paycom Software from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $230.00 to $278.00 in a research note on Wednesday, November 27th. Oppenheimer raised their price target on shares of Paycom Software from $255.00 to $325.00 and gave the company an “outperform” rating in a research note on Friday. Citigroup initiated coverage on shares of Paycom Software in a research note on Friday, October 25th. They issued a “buy” rating and a $262.00 price target on the stock. KeyCorp raised their price target on shares of Paycom Software from $261.00 to $314.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Finally, Northland Securities reaffirmed a “buy” rating and issued a $300.00 price target on shares of Paycom Software in a research note on Friday, January 3rd. Nine research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $247.33.

Paycom Software Company Profile

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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