Paycom Software, Inc. (NYSE:PAYC) Position Reduced by Lazard Asset Management LLC

Lazard Asset Management LLC decreased its position in shares of Paycom Software, Inc. (NYSE:PAYCGet Rating) by 87.4% during the 2nd quarter, Holdings Channel.com reports. The firm owned 271 shares of the software maker’s stock after selling 1,878 shares during the quarter. Lazard Asset Management LLC’s holdings in Paycom Software were worth $75,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Toth Financial Advisory Corp raised its holdings in Paycom Software by 250.0% during 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 in the last quarter. Zions Bancorporation N.A. raised its holdings in Paycom Software by 405.3% during the second quarter. Zions Bancorporation N.A. now owns 96 shares of the software maker’s stock worth $27,000 after purchasing an additional 77 shares in the last quarter. Clear Street Markets LLC raised its holdings in Paycom Software by 421.1% during the second quarter. Clear Street Markets LLC now owns 99 shares of the software maker’s stock worth $28,000 after purchasing an additional 80 shares in the last quarter. Fairfield Bush & CO. bought a new stake in Paycom Software during the first quarter worth approximately $48,000. Finally, Quadrant Capital Group LLC raised its holdings in Paycom Software by 58.3% during the first quarter. Quadrant Capital Group LLC now owns 152 shares of the software maker’s stock worth $53,000 after purchasing an additional 56 shares in the last quarter. Institutional investors own 74.43% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on PAYC shares. KeyCorp upped their price target on Paycom Software from $390.00 to $432.00 and gave the company an “overweight” rating in a report on Monday, August 15th. StockNews.com started coverage on Paycom Software in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Piper Sandler upped their price target on Paycom Software from $387.00 to $395.00 and gave the company an “overweight” rating in a report on Wednesday, November 2nd. Barclays upped their price target on Paycom Software from $339.00 to $343.00 and gave the company an “equal weight” rating in a report on Tuesday, October 18th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $335.00 price target on shares of Paycom Software in a report on Wednesday, August 3rd. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Paycom Software has an average rating of “Moderate Buy” and an average target price of $390.13.

Paycom Software Trading Up 2.5 %

Paycom Software stock opened at $327.21 on Friday. The company’s fifty day simple moving average is $328.38 and its 200-day simple moving average is $322.40. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.03. Paycom Software, Inc. has a 12 month low of $255.82 and a 12 month high of $457.70. The stock has a market cap of $19.64 billion, a P/E ratio of 75.92, a P/E/G ratio of 2.74 and a beta of 1.39.

Paycom Software declared that its board has approved a stock repurchase plan on Monday, August 15th that authorizes the company to buyback $1.10 billion in outstanding shares. This buyback authorization authorizes the software maker to purchase up to 4.7% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

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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