Creative Planning Sells 2,909 Shares of Paycom Software Inc (NYSE:PAYC)
Creative Planning lessened its position in Paycom Software Inc (NYSE:PAYC) by 60.9% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,871 shares of the software maker’s stock after selling 2,909 shares during the period. Creative Planning’s holdings in Paycom Software were worth $580,000 as of its most recent filing with the SEC.
Other large investors have also recently modified their holdings of the company. State of Tennessee Treasury Department bought a new stake in Paycom Software in the first quarter valued at approximately $2,330,000. Franklin Resources Inc. increased its position in shares of Paycom Software by 39.6% during the first quarter. Franklin Resources Inc. now owns 142,035 shares of the software maker’s stock worth $28,693,000 after acquiring an additional 40,284 shares in the last quarter. New Mexico Educational Retirement Board bought a new stake in shares of Paycom Software during the first quarter worth $616,000. Invesco Ltd. increased its position in shares of Paycom Software by 76.7% during the first quarter. Invesco Ltd. now owns 600,395 shares of the software maker’s stock worth $121,285,000 after acquiring an additional 260,661 shares in the last quarter. Finally, Valeo Financial Advisors LLC increased its position in shares of Paycom Software by 3,748.1% during the second quarter. Valeo Financial Advisors LLC now owns 1,039 shares of the software maker’s stock worth $322,000 after acquiring an additional 1,012 shares in the last quarter. 75.20% of the stock is owned by hedge funds and other institutional investors.
PAYC has been the subject of several research reports. Mizuho lowered their price objective on shares of Paycom Software to $210.00 and set a “neutral” rating for the company in a research report on Wednesday, April 29th. Piper Sandler initiated coverage on shares of Paycom Software in a research report on Thursday, May 21st. They set a “neutral” rating and a $281.00 price objective for the company. Jefferies Financial Group lowered their price objective on shares of Paycom Software from $225.00 to $215.00 and set a “hold” rating for the company in a research report on Wednesday, April 29th. JPMorgan Chase & Co. downgraded shares of Paycom Software from a “neutral” rating to an “underweight” rating and set a $200.00 price objective for the company. in a research report on Thursday, April 23rd. Finally, Barclays raised their target price on shares of Paycom Software from $195.00 to $285.00 and gave the company an “equal weight” rating in a research report on Monday, July 20th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $259.81.
Paycom Software (NYSE:PAYC) last announced its quarterly earnings results on Tuesday, April 28th. The software maker reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.07. The firm had revenue of $242.40 million during the quarter, compared to analysts’ expectations of $237.93 million. Paycom Software had a net margin of 25.17% and a return on equity of 37.04%. The company’s revenue for the quarter was up 21.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.19 earnings per share. As a group, equities research analysts anticipate that Paycom Software Inc will post 2.62 EPS for the current fiscal year.
In related news, COO Jon Evans sold 3,000 shares of the firm’s stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $316.82, for a total transaction of $950,460.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Bradley Scott Smith sold 10,000 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $304.27, for a total transaction of $3,042,700.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 447,942 shares of company stock valued at $120,871,330. Corporate insiders own 16.10% of the company’s stock.
Paycom Software 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.
Further Reading: What is total return in investing?
Want to see what other hedge funds are holding PAYC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Paycom Software Inc (NYSE:PAYC).
Receive News & Ratings for Paycom Software Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paycom Software and related companies with MarketBeat.com's FREE daily email newsletter.