Trustmark National Bank Trust Department trimmed its position in Paycom Software Inc (NYSE:PAYC) by 7.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,764 shares of the software maker’s stock after selling 150 shares during the period. Trustmark National Bank Trust Department’s holdings in Paycom Software were worth $356,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of the company. Legal & General Group Plc lifted its holdings in shares of Paycom Software by 11.8% in the first quarter. Legal & General Group Plc now owns 306,081 shares of the software maker’s stock valued at $61,905,000 after purchasing an additional 32,278 shares in the last quarter. Aviva PLC lifted its holdings in shares of Paycom Software by 0.9% in the first quarter. Aviva PLC now owns 17,355 shares of the software maker’s stock valued at $3,506,000 after purchasing an additional 159 shares in the last quarter. Baird Financial Group Inc. lifted its holdings in shares of Paycom Software by 685.9% in the first quarter. Baird Financial Group Inc. now owns 152,526 shares of the software maker’s stock valued at $30,812,000 after purchasing an additional 133,117 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Paycom Software by 73.2% in the first quarter. Alliancebernstein L.P. now owns 865,168 shares of the software maker’s stock valued at $174,773,000 after purchasing an additional 365,542 shares in the last quarter. Finally, M&T Bank Corp increased its position in shares of Paycom Software by 6.0% in the first quarter. M&T Bank Corp now owns 9,644 shares of the software maker’s stock valued at $1,947,000 after acquiring an additional 544 shares during the last quarter. Institutional investors own 75.25% of the company’s stock.
A number of analysts recently issued reports on the company. Needham & Company LLC lifted their target price on Paycom Software from $250.00 to $265.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Cantor Fitzgerald lowered their price target on Paycom Software from $314.00 to $245.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 29th. Zacks Investment Research downgraded Paycom Software from a “hold” rating to a “sell” rating and set a $254.00 price target on the stock. in a research report on Monday, May 4th. Piper Sandler started coverage on Paycom Software in a research report on Thursday, May 21st. They set a “neutral” rating and a $281.00 price target on the stock. Finally, Stifel Nicolaus lowered their price target on Paycom Software from $187.00 to $175.00 and set a “hold” rating on the stock in a research report on Wednesday, April 29th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $247.18.
Shares of PAYC stock traded down $28.06 during trading on Thursday, hitting $303.44. The company had a trading volume of 27,578 shares, compared to its average volume of 1,075,328. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.10 and a current ratio of 1.10. The firm has a market capitalization of $19.19 billion, a P/E ratio of 89.91, a price-to-earnings-growth ratio of 4.89 and a beta of 1.56. The stock’s 50-day moving average price is $267.91 and its 200 day moving average price is $264.89. Paycom Software Inc has a one year low of $163.42 and a one year high of $342.00.
Paycom Software (NYSE:PAYC) last issued its quarterly earnings results on Tuesday, April 28th. The software maker reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.07. The business had revenue of $242.40 million during the quarter, compared to analysts’ expectations of $237.93 million. Paycom Software had a return on equity of 37.04% and a net margin of 25.17%. The firm’s revenue for the quarter was up 21.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.19 earnings per share. On average, research analysts anticipate that Paycom Software Inc will post 2.7 earnings per share for the current fiscal year.
Paycom Software declared that its board has initiated a share buyback program on Thursday, March 12th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the software maker to reacquire up to 1.9% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
In other Paycom Software news, CFO Craig E. Boelte sold 1,400 shares of the stock in a transaction dated Monday, April 13th. The stock was sold at an average price of $221.06, for a total transaction of $309,484.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Bradley Scott Smith sold 10,000 shares of the stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $304.27, for a total value of $3,042,700.00. The disclosure for this sale can be found here. Insiders sold a total of 440,342 shares of company stock valued at $118,264,284 over the last quarter. 16.10% of the stock is owned by corporate insiders.
About Paycom Software
Paycom Software, Inc provides cloud-based human capital management (HCM) software service for small to mid-sized companies in the United States. It provides functionality and data analytics that businesses need to manage the employment life cycle from recruitment to retirement. The company's HCM solution offers a suite of applications in the areas of talent acquisition, including applicant tracking, candidate tracker, background checks, on-boarding, e-verify, and tax credit services; and time and labor management, such as time and attendance, scheduling/schedule exchange, time-off requests, labor allocation, labor management reports/push reporting, and geofencing/geotracking.
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