Bank of Montreal Can Sells 16,455 Shares of Paycom Software, Inc. (NYSE:PAYC)

Bank of Montreal Can lowered its holdings in shares of Paycom Software, Inc. (NYSE:PAYCGet Rating) by 38.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,896 shares of the software maker’s stock after selling 16,455 shares during the quarter. Bank of Montreal Can’s holdings in Paycom Software were worth $8,207,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of PAYC. Mutual of America Capital Management LLC raised its holdings 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 purchasing an additional 70 shares in the last quarter. Metis Global Partners LLC bought a new position in shares of Paycom Software during the 1st quarter valued at $271,000. Arizona State Retirement System raised its holdings in shares of Paycom Software by 2.1% during the 1st quarter. Arizona State Retirement System now owns 14,202 shares of the software maker’s stock valued at $4,919,000 after purchasing an additional 295 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Paycom Software by 6.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 114,733 shares of the software maker’s stock valued at $39,741,000 after purchasing an additional 7,092 shares in the last quarter. Finally, Benjamin Edwards Inc. raised its holdings in shares of Paycom Software by 9,833.3% during the 1st quarter. Benjamin Edwards Inc. now owns 298 shares of the software maker’s stock valued at $103,000 after purchasing an additional 295 shares in the last quarter. Institutional investors own 74.43% of the company’s stock.

Paycom Software Stock Performance

NYSE PAYC opened at $327.21 on Friday. 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’s fifty day moving average is $328.38 and its two-hundred day moving average is $322.40. Paycom Software, Inc. has a 52-week low of $255.82 and a 52-week high of $457.70. The firm has a market capitalization of $19.64 billion, a price-to-earnings ratio of 75.92, a P/E/G ratio of 2.74 and a beta of 1.39.

Paycom Software announced that its Board of Directors has authorized a stock repurchase plan 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 stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research analysts recently commented on PAYC shares. Piper Sandler lifted their target price on shares of Paycom Software from $387.00 to $395.00 and gave the stock an “overweight” rating in a report on Wednesday, November 2nd. Cowen lifted their target price on shares of Paycom Software from $365.00 to $381.00 in a report on Wednesday, November 2nd. Citigroup lifted their target price on shares of Paycom Software from $393.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, November 2nd. Oppenheimer lifted their target price on shares of Paycom Software from $375.00 to $415.00 in a report on Thursday, August 11th. Finally, Barclays lifted their target price on shares of Paycom Software from $339.00 to $343.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 18th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Paycom Software has an average rating of “Moderate Buy” and an average target price of $390.13.

Paycom Software Profile

(Get Rating)

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.

Read More

Want to see what other hedge funds are holding PAYC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Paycom Software, Inc. (NYSE:PAYCGet Rating).

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

Receive News & Ratings for Paycom Software Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paycom Software and related companies with MarketBeat.com's FREE daily email newsletter.