Verition Fund Management LLC lessened its holdings in shares of Paycom Software, Inc. (NYSE:PAYC – Get Rating) by 40.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,862 shares of the software maker’s stock after selling 1,914 shares during the quarter. Verition Fund Management LLC’s holdings in Paycom Software were worth $802,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. Toth Financial Advisory Corp grew its stake in Paycom Software by 250.0% during the 2nd 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 NA grew its position in shares of Paycom Software by 405.3% during the second quarter. Zions Bancorporation NA now owns 96 shares of the software maker’s stock worth $27,000 after buying an additional 77 shares in the last quarter. Clear Street Markets LLC increased its stake in shares of 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 buying an additional 80 shares during the period. Fairfield Bush & CO. acquired a new stake in Paycom Software in the first quarter valued at approximately $48,000. Finally, SeaCrest Wealth Management LLC purchased a new position in Paycom Software in the second quarter worth approximately $49,000. Hedge funds and other institutional investors own 88.58% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of brokerages have commented on PAYC. Cowen increased their price objective on shares of Paycom Software from $365.00 to $381.00 in a research report on Wednesday, November 2nd. Cowen increased their target price on Paycom Software from $365.00 to $381.00 in a report on Wednesday, November 2nd. Wolfe Research lifted their price target on Paycom Software from $400.00 to $410.00 and gave the stock an “outperform” rating in a report on Wednesday, November 2nd. Citigroup increased their price objective on Paycom Software from $393.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, November 2nd. Finally, StockNews.com initiated coverage on Paycom Software in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Paycom Software has an average rating of “Moderate Buy” and a consensus target price of $390.13.
Paycom Software Price Performance
Shares of PAYC opened at $303.79 on Friday. The company has a market capitalization of $18.23 billion, a price-to-earnings ratio of 70.49, a price-to-earnings-growth ratio of 2.60 and a beta of 1.37. Paycom Software, Inc. has a fifty-two week low of $255.82 and a fifty-two week high of $429.93. The firm has a 50-day simple moving average of $322.51 and a 200-day simple moving average of $327.82. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.17 and a current ratio of 1.17.
Paycom Software Profile
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Paycom Software, Inc provides a 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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