Diversified Trust Co lessened its position in shares of Paycom Software, Inc. (NYSE:PAYC – Get Rating) by 59.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,361 shares of the software maker’s stock after selling 1,978 shares during the quarter. Diversified Trust Co’s holdings in Paycom Software were worth $381,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Quadrant Capital Group LLC raised its position in shares of Paycom Software by 58.3% during the 1st quarter. Quadrant Capital Group LLC now owns 152 shares of the software maker’s stock valued at $53,000 after buying an additional 56 shares during the period. Mutual of America Capital Management LLC raised its position in shares of Paycom Software by 1.1% during the 1st quarter. Mutual of America Capital Management LLC now owns 6,426 shares of the software maker’s stock valued at $2,226,000 after buying an additional 70 shares during the period. US Bancorp DE raised its position in shares of Paycom Software by 7.0% during the 1st quarter. US Bancorp DE now owns 27,472 shares of the software maker’s stock valued at $9,517,000 after buying an additional 1,790 shares during the period. D.A. Davidson & CO. raised its position in shares of Paycom Software by 14.8% during the 1st quarter. D.A. Davidson & CO. now owns 1,995 shares of the software maker’s stock valued at $691,000 after buying an additional 257 shares during the period. Finally, Bank Hapoalim BM raised its position in shares of Paycom Software by 24.7% during the 1st quarter. Bank Hapoalim BM now owns 3,057 shares of the software maker’s stock valued at $1,059,000 after buying an additional 605 shares during the period. Hedge funds and other institutional investors own 74.43% of the company’s stock.
Paycom Software Stock Performance
NYSE:PAYC opened at $328.46 on Friday. The company has a fifty day simple moving average of $352.62 and a two-hundred day simple moving average of $320.99. The company has a market cap of $19.72 billion, a price-to-earnings ratio of 83.58, a price-to-earnings-growth ratio of 3.10 and a beta of 1.46. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.03. Paycom Software, Inc. has a 52 week low of $255.82 and a 52 week high of $558.97.
Paycom Software declared that its board has initiated a stock repurchase plan on Tuesday, June 7th that authorizes the company to repurchase $550.00 million in shares. This repurchase authorization authorizes the software maker to reacquire up to 3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
Insider Buying and Selling
In related news, Director Frederick C. Peters II sold 1,000 shares of the business’s stock in a transaction on Monday, August 8th. The shares were sold at an average price of $371.17, for a total transaction of $371,170.00. Following the completion of the transaction, the director now owns 15,778 shares in the company, valued at $5,856,320.26. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 15.20% of the company’s stock.
Wall Street Analysts Forecast Growth
Several analysts have recently commented on the stock. Credit Suisse Group lifted their price target on shares of Paycom Software from $350.00 to $375.00 and gave the company an “outperform” rating in a research report on Wednesday, August 3rd. DA Davidson lowered Paycom Software from a “buy” rating to a “neutral” rating and set a $360.00 target price on the stock. in a research report on Monday, July 25th. Stifel Nicolaus boosted their target price on Paycom Software from $375.00 to $400.00 in a research report on Wednesday, August 3rd. Citigroup assumed coverage on Paycom Software in a research report on Thursday, September 1st. They issued a “buy” rating and a $457.00 target price on the stock. Finally, Wolfe Research boosted their target price on Paycom Software from $375.00 to $400.00 and gave the company an “outperform” rating in a research report on Thursday, August 4th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Paycom Software currently has an average rating of “Moderate Buy” and a consensus target price of $390.67.
About Paycom Software
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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