SeaCrest Wealth Management LLC Invests $49,000 in Paycom Software, Inc. (NYSE:PAYC)

SeaCrest Wealth Management LLC acquired a new position in Paycom Software, Inc. (NYSE:PAYCGet Rating) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 174 shares of the software maker’s stock, valued at approximately $49,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Toth Financial Advisory Corp lifted its stake in Paycom Software by 250.0% in the second quarter. Toth Financial Advisory Corp now owns 91 shares of the software maker’s stock valued at $25,000 after buying an additional 65 shares during the period. Zions Bancorporation N.A. lifted its stake in Paycom Software by 405.3% in the second quarter. Zions Bancorporation N.A. now owns 96 shares of the software maker’s stock valued at $27,000 after buying an additional 77 shares during the period. Clear Street Markets LLC lifted its stake in Paycom Software by 421.1% in the second quarter. Clear Street Markets LLC now owns 99 shares of the software maker’s stock valued at $28,000 after buying an additional 80 shares during the period. Fairfield Bush & CO. acquired a new position in Paycom Software in the first quarter valued at approximately $48,000. Finally, First Horizon Advisors Inc. lifted its stake in Paycom Software by 320.9% in the second quarter. First Horizon Advisors Inc. now owns 181 shares of the software maker’s stock valued at $50,000 after buying an additional 138 shares during the period. 74.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on PAYC shares. Citigroup boosted their price target on Paycom Software from $393.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, November 2nd. KeyCorp upped their target price on Paycom Software from $390.00 to $432.00 and gave the stock an “overweight” rating in a research report on Monday, August 15th. Stifel Nicolaus upped their target price on Paycom Software from $375.00 to $400.00 in a research report on Wednesday, August 3rd. Cowen upped their target price on Paycom Software from $365.00 to $381.00 in a research report on Wednesday, November 2nd. Finally, Wolfe Research upped their target price on Paycom Software from $400.00 to $410.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 2nd. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $390.13.

Paycom Software Stock Down 0.6 %

Shares of NYSE:PAYC opened at $316.39 on Monday. The company has a market capitalization of $18.99 billion, a PE ratio of 73.41, a price-to-earnings-growth ratio of 2.72 and a beta of 1.39. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.17 and a quick ratio of 1.17. The business has a fifty day moving average price of $331.65 and a two-hundred day moving average price of $322.06. Paycom Software, Inc. has a 1 year low of $255.82 and a 1 year high of $475.19.

Paycom Software declared that its Board of Directors has initiated a share repurchase plan on Monday, August 15th that allows the company to repurchase $1.10 billion in shares. This repurchase authorization allows the software maker to buy up to 4.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors 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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