Mackenzie Financial Corp Increases Stock Holdings in Paycom Software, Inc. (NYSE:PAYC)

Mackenzie Financial Corp boosted its position in shares of Paycom Software, Inc. (NYSE:PAYCGet Rating) by 14.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,926 shares of the software maker’s stock after acquiring an additional 510 shares during the period. Mackenzie Financial Corp’s holdings in Paycom Software were worth $1,100,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Toth Financial Advisory Corp increased its position in shares of Paycom Software by 250.0% in the second quarter. Toth Financial Advisory Corp now owns 91 shares of the software maker’s stock worth $25,000 after purchasing an additional 65 shares during the last quarter. Zions Bancorporation N.A. increased its holdings in shares of Paycom Software by 405.3% in the 2nd quarter. Zions Bancorporation N.A. now owns 96 shares of the software maker’s stock worth $27,000 after buying an additional 77 shares during the last quarter. Clear Street Markets LLC raised its position in shares of Paycom Software by 421.1% during the 2nd 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 in the last quarter. Fairfield Bush & CO. bought a new stake in shares of Paycom Software during the 1st quarter worth $48,000. Finally, SeaCrest Wealth Management LLC purchased a new position in Paycom Software in the second quarter worth $49,000. 74.43% of the stock is owned by institutional investors.

Paycom Software Price Performance

Shares of PAYC stock opened at $327.21 on Thursday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.17 and a current ratio of 1.17. The firm has a market cap of $19.64 billion, a P/E ratio of 75.92, a P/E/G ratio of 2.71 and a beta of 1.39. The business’s 50 day moving average price is $328.86 and its 200-day moving average price is $322.36. Paycom Software, Inc. has a fifty-two week low of $255.82 and a fifty-two week high of $457.70.

Paycom Software declared that its Board of Directors has approved a stock buyback program on Monday, August 15th that authorizes the company to repurchase $1.10 billion in shares. This repurchase authorization authorizes the software maker to purchase up to 4.7% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

Several brokerages have issued reports on PAYC. Oppenheimer lifted their price target on Paycom Software from $375.00 to $415.00 in a research note on Thursday, August 11th. Citigroup upped their target price on Paycom Software from $393.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday, November 2nd. StockNews.com assumed coverage on shares of Paycom Software in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Stifel Nicolaus upped their price objective on shares of Paycom Software from $375.00 to $400.00 in a research note on Wednesday, August 3rd. Finally, Cowen lifted their target price on shares of Paycom Software from $365.00 to $381.00 in a research report on Wednesday, November 2nd. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $390.13.

Paycom Software Company 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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