Paycom Software, Inc. (NYSE:PAYC) Shares Acquired by Walleye Capital LLC

Walleye Capital LLC lifted its stake in shares of Paycom Software, Inc. (NYSE:PAYCGet Rating) by 299.6% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 4,512 shares of the software maker’s stock after purchasing an additional 3,383 shares during the period. Walleye Capital LLC’s holdings in Paycom Software were worth $1,563,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in PAYC. BlackRock Inc. grew its position in shares of Paycom Software by 11.5% during the first quarter. BlackRock Inc. now owns 5,967,962 shares of the software maker’s stock worth $2,067,181,000 after buying an additional 615,839 shares in the last quarter. Capital Research Global Investors grew its position in shares of Paycom Software by 21.8% during the fourth quarter. Capital Research Global Investors now owns 1,988,938 shares of the software maker’s stock worth $825,787,000 after buying an additional 356,545 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Paycom Software by 47.8% during the first quarter. Goldman Sachs Group Inc. now owns 877,824 shares of the software maker’s stock worth $304,061,000 after buying an additional 283,892 shares in the last quarter. Alyeska Investment Group L.P. grew its position in shares of Paycom Software by 156.4% during the first quarter. Alyeska Investment Group L.P. now owns 456,317 shares of the software maker’s stock worth $158,059,000 after buying an additional 278,342 shares in the last quarter. Finally, Eagle Asset Management Inc. acquired a new position in shares of Paycom Software during the first quarter worth about $91,207,000. 74.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Paycom Software

In related news, Director Frederick C. Peters II sold 1,000 shares of the stock in a transaction on Monday, August 8th. The stock was sold at an average price of $371.17, for a total transaction of $371,170.00. Following the sale, the director now owns 15,778 shares of the company’s stock, valued at $5,856,320.26. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 15.20% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on PAYC shares. DA Davidson cut Paycom Software from a “buy” rating to a “neutral” rating and set a $360.00 target price for the company. in a research note on Monday, July 25th. Oppenheimer upped their price target on Paycom Software from $375.00 to $415.00 in a research note on Thursday, August 11th. Piper Sandler upped their price target on Paycom Software from $361.00 to $387.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 3rd. Stifel Nicolaus upped their price objective on Paycom Software from $375.00 to $400.00 in a report on Wednesday, August 3rd. Finally, Jefferies Financial Group reaffirmed a “buy” rating and set a $335.00 price objective on shares of Paycom Software in a report on Wednesday, August 3rd. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $390.67.

Paycom Software Stock Down 0.6 %

Paycom Software stock opened at $349.60 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.08 and a current ratio of 1.08. The firm has a market capitalization of $20.99 billion, a price-to-earnings ratio of 88.96, a price-to-earnings-growth ratio of 3.14 and a beta of 1.46. Paycom Software, Inc. has a fifty-two week low of $255.82 and a fifty-two week high of $558.97. The stock’s fifty day moving average is $349.28 and its two-hundred day moving average is $320.25.

Paycom Software (NYSE:PAYCGet Rating) last posted its earnings results on Tuesday, August 2nd. The software maker reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.03. The company had revenue of $316.92 million for the quarter, compared to analyst estimates of $309.17 million. Paycom Software had a return on equity of 23.38% and a net margin of 18.85%. Analysts predict that Paycom Software, Inc. will post 4.48 EPS for the current fiscal year.

Paycom Software announced that its board has approved a share repurchase plan on Tuesday, June 7th that authorizes the company to buyback $550.00 million in outstanding shares. This buyback authorization authorizes the software maker to buy up to 3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Paycom Software Profile

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Paycom Software, Inc provides cloud-based human capital management (HCM) solution delivered as software-as-a-service for small to mid-sized companies in the United States. It offers functionality and data analytics that businesses need to manage the employment life cycle from recruitment to retirement.

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

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