Cerity Partners LLC Makes New Investment in Paycom Software, Inc. (NYSE:PAYC)

Cerity Partners LLC bought a new position in Paycom Software, Inc. (NYSE:PAYCGet Rating) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 806 shares of the software maker’s stock, valued at approximately $226,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. lifted its position in Paycom Software by 11.5% in the first quarter. BlackRock Inc. now owns 5,967,962 shares of the software maker’s stock worth $2,067,181,000 after purchasing an additional 615,839 shares during the period. Vanguard Group Inc. lifted its position in shares of Paycom Software by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 5,535,044 shares of the software maker’s stock valued at $1,917,229,000 after acquiring an additional 73,414 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Paycom Software by 8.7% during the 1st quarter. Wellington Management Group LLP now owns 1,359,073 shares of the software maker’s stock valued at $470,756,000 after acquiring an additional 108,505 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Paycom Software by 47.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 877,824 shares of the software maker’s stock valued at $304,061,000 after acquiring an additional 283,892 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Paycom Software by 7.2% in the first quarter. Invesco Ltd. now owns 845,202 shares of the software maker’s stock valued at $292,764,000 after purchasing an additional 56,649 shares in the last quarter. 74.43% of the stock is currently owned by institutional investors and hedge funds.

Paycom Software Trading Up 1.3 %

Paycom Software stock opened at $319.38 on Wednesday. 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 company has a market capitalization of $19.17 billion, a price-to-earnings ratio of 74.10, a PEG ratio of 2.72 and a beta of 1.39. Paycom Software, Inc. has a one year low of $255.82 and a one year high of $457.70. The company’s fifty day moving average price is $329.60 and its two-hundred day moving average price is $322.33.

Paycom Software declared that its board has approved a stock buyback program on Monday, August 15th that allows the company to buyback $1.10 billion in outstanding shares. This buyback authorization allows the software maker to repurchase up to 4.7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

A number of analysts have recently issued reports on PAYC shares. Stifel Nicolaus increased their target price on Paycom Software from $375.00 to $400.00 in a report on Wednesday, August 3rd. KeyCorp increased their target price on Paycom Software from $390.00 to $432.00 and gave the company an “overweight” rating in a report on Monday, August 15th. Cowen increased their target price on Paycom Software from $365.00 to $381.00 in a report on Wednesday, November 2nd. StockNews.com started coverage on Paycom Software in a report on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, Jefferies Financial Group restated a “buy” rating and issued a $335.00 target price on shares of Paycom Software in a report on Wednesday, August 3rd. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $390.13.

About Paycom Software

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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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