HCR Wealth Advisors purchased a new stake in shares of Paycom Software Inc (NYSE:PAYC) during the second quarter, Holdings Channel.com reports. The firm purchased 634 shares of the software maker’s stock, valued at approximately $203,000.
Other institutional investors also recently modified their holdings of the company. State of Michigan Retirement System boosted its holdings in shares of Paycom Software by 9.6% in the 2nd quarter. State of Michigan Retirement System now owns 12,272 shares of the software maker’s stock valued at $3,801,000 after acquiring an additional 1,072 shares during the last quarter. M&T Bank Corp boosted its holdings in shares of Paycom Software by 75.7% in the 2nd quarter. M&T Bank Corp now owns 16,949 shares of the software maker’s stock valued at $5,250,000 after acquiring an additional 7,305 shares during the last quarter. Sciencast Management LP purchased a new stake in shares of Paycom Software in the 2nd quarter valued at $1,200,000. Pacer Advisors Inc. purchased a new stake in shares of Paycom Software in the 2nd quarter valued at $1,289,000. Finally, GWM Advisors LLC boosted its holdings in shares of Paycom Software by 10.7% in the 2nd quarter. GWM Advisors LLC now owns 2,000 shares of the software maker’s stock valued at $619,000 after acquiring an additional 193 shares during the last quarter. Institutional investors and hedge funds own 75.20% of the company’s stock.
Several analysts have recently commented on the stock. Needham & Company LLC upped their price objective on shares of Paycom Software from $250.00 to $265.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Credit Suisse Group upped their price objective on shares of Paycom Software from $185.00 to $205.00 and gave the company an “underperform” rating in a report on Thursday. Jefferies Financial Group dropped their price objective on shares of Paycom Software from $225.00 to $215.00 and set a “hold” rating on the stock in a report on Wednesday, April 29th. JPMorgan Chase & Co. downgraded shares of Paycom Software from a “neutral” rating to an “underweight” rating and set a $200.00 price target on the stock. in a report on Thursday, April 23rd. Finally, Royal Bank of Canada lowered their price target on shares of Paycom Software from $240.00 to $225.00 and set a “sector perform” rating on the stock in a report on Wednesday, April 29th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $259.81.
NYSE:PAYC traded down $2.16 during trading hours on Friday, reaching $284.37. 562,851 shares of the company were exchanged, compared to its average volume of 400,520. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.05. The stock’s 50-day moving average is $305.20 and its 200-day moving average is $274.43. The firm has a market cap of $16.65 billion, a PE ratio of 84.63, a price-to-earnings-growth ratio of 4.33 and a beta of 1.55. Paycom Software Inc has a twelve month low of $163.42 and a twelve month high of $342.00.
In other news, insider Bradley Scott Smith sold 10,000 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $304.27, for a total value of $3,042,700.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jason D. Clark sold 900 shares of the stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $284.51, for a total transaction of $256,059.00. The disclosure for this sale can be found here. Insiders have sold 447,942 shares of company stock valued at $120,871,330 over the last 90 days. 16.10% of the stock is currently owned by company 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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