Paycom Software, Inc. (NYSE:PAYC) Stake Raised by AIA Group Ltd

AIA Group Ltd boosted its holdings in Paycom Software, Inc. (NYSE:PAYCGet Rating) by 53.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 721 shares of the software maker’s stock after acquiring an additional 250 shares during the quarter. AIA Group Ltd’s holdings in Paycom Software were worth $250,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Allworth Financial LP raised its position in Paycom Software by 157.1% in the first quarter. Allworth Financial LP now owns 108 shares of the software maker’s stock worth $37,000 after acquiring an additional 66 shares in the last quarter. Quadrant Capital Group LLC raised its holdings in Paycom Software by 54.8% during the 4th quarter. Quadrant Capital Group LLC now owns 96 shares of the software maker’s stock worth $40,000 after buying an additional 34 shares during the period. Kathleen S. Wright Associates Inc. acquired a new stake in Paycom Software during the 4th quarter worth about $42,000. Covestor Ltd acquired a new stake in Paycom Software during the 4th quarter worth about $54,000. Finally, Prospera Financial Services Inc acquired a new stake in Paycom Software during the 1st quarter worth about $60,000. 87.12% of the stock is currently owned by institutional investors.

Paycom Software Trading Up 2.6 %

Shares of NYSE PAYC opened at $370.01 on Friday. The stock has a market cap of $22.29 billion, a price-to-earnings ratio of 94.15, a PEG ratio of 3.25 and a beta of 1.50. The business has a 50 day simple moving average of $303.54 and a 200 day simple moving average of $312.44. Paycom Software, Inc. has a 52 week low of $255.82 and a 52 week high of $558.97. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.08 and a current ratio of 1.08.

Paycom Software (NYSE:PAYCGet Rating) last announced its quarterly earnings results on Tuesday, May 3rd. The software maker reported $1.56 EPS for the quarter, beating the consensus estimate of $1.42 by $0.14. The business had revenue of $353.52 million during the quarter, compared to analysts’ expectations of $343.20 million. Paycom Software had a return on equity of 23.38% and a net margin of 18.85%. The firm’s quarterly revenue was up 29.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.10 EPS. On average, research analysts predict that Paycom Software, Inc. will post 4.33 earnings per share for the current fiscal year.

Paycom Software declared that its Board of Directors has approved a share repurchase plan on Tuesday, June 7th that permits the company to repurchase $550.00 million in shares. This repurchase authorization permits the software maker to purchase up to 3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Jefferies Financial Group restated a “buy” rating and set a $335.00 price objective on shares of Paycom Software in a report on Wednesday. Credit Suisse Group upped their target price on Paycom Software from $350.00 to $375.00 and gave the company an “outperform” rating in a report on Wednesday. TheStreet downgraded Paycom Software from a “b-” rating to a “c+” rating in a report on Monday, May 2nd. KeyCorp upped their target price on Paycom Software from $340.00 to $390.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Barclays upped their target price on Paycom Software from $308.00 to $339.00 in a report on Wednesday. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Paycom Software presently has a consensus rating of “Moderate Buy” and an average target price of $375.43.

Insiders Place Their Bets

In other Paycom Software news, insider Holly Faurot sold 194 shares of the company’s stock in a transaction that occurred on Monday, May 9th. The stock was sold at an average price of $280.32, for a total transaction of $54,382.08. Following the completion of the sale, the insider now owns 45,180 shares of the company’s stock, valued at $12,664,857.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Holly Faurot sold 194 shares of the company’s stock in a transaction that occurred on Monday, May 9th. The stock was sold at an average price of $280.32, for a total transaction of $54,382.08. Following the completion of the transaction, the insider now directly owns 45,180 shares in the company, valued at $12,664,857.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Bradley Scott Smith sold 1,625 shares of the company’s stock in a transaction that occurred on Wednesday, May 11th. The stock was sold at an average price of $275.24, for a total value of $447,265.00. Following the transaction, the insider now owns 3,600 shares of the company’s stock, valued at $990,864. The disclosure for this sale can be found here. Insiders sold 19,721 shares of company stock valued at $5,441,538 over the last 90 days. 15.20% of the stock is currently owned by company insiders.

About Paycom Software

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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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