Paycom Software, Inc. $PAYC Stock: VIRGINIA RETIREMENT SYSTEMS ET Al Lowers Position

Key Points

• VIRGINIA RETIREMENT SYSTEMS ET Al cut its Paycom Software position by 37.6% in the third quarter, selling 13,200 shares and retaining 21,900 shares worth approximately $4.77 million. Institutional investors collectively own 87.77% of PAYC.
• Paycom reported quarterly earnings of $2.78 per share, exceeding estimates of $2.38, while revenue rose 9.8% year over year to $531.2 million. The stock opened at $263.51, near its 52-week high of $275.22.
• Analyst sentiment remains mixed, with a consensus rating of “Hold” and an average price target of $256.21; recent firms raised targets as high as $305, while Zacks Research downgraded the stock to Hold.

VIRGINIA RETIREMENT SYSTEMS ET Al reduced its holdings in Paycom Software, Inc. (NYSE:PAYC - Free Report) by 37.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,900 shares of the software maker's stock after selling 13,200 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al's holdings in Paycom Software were worth $4,767,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Parcion Private Wealth LLC acquired a new position in shares of Paycom Software during the 3rd quarter worth approximately $272,000. Choreo LLC increased its holdings in Paycom Software by 71.1% in the 3rd quarter. Choreo LLC now owns 3,355 shares of the software maker's stock worth $730,000 after acquiring an additional 1,394 shares in the last quarter. Interchange Capital Partners LLC purchased a new stake in Paycom Software in the 3rd quarter worth $247,000. Childress Capital Advisors LLC raised its position in Paycom Software by 1.4% during the third quarter. Childress Capital Advisors LLC now owns 2,951 shares of the software maker's stock worth $642,000 after acquiring an additional 42 shares during the period. Finally, Motley Fool Asset Management LLC acquired a new position in Paycom Software during the third quarter worth $215,000. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Paycom Software Stock Down 0.3%

NYSE:PAYC opened at $263.51 on Monday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.57. The stock has a market capitalization of $11.88 billion, a price-to-earnings ratio of 28.00, a price-to-earnings-growth ratio of 1.41 and a beta of 0.82. The stock's fifty day moving average is $235.83 and its two-hundred day moving average is $164.12. Paycom Software, Inc. has a 52 week low of $104.90 and a 52 week high of $275.22.

Paycom Software (NYSE:PAYC - Get Free Report) last announced its earnings results on Wednesday, August 5th. The software maker reported $2.78 earnings per share for the quarter, topping the consensus estimate of $2.38 by $0.40. Paycom Software had a net margin of 22.78% and a return on equity of 37.06%. The firm had revenue of $531.20 million for the quarter, compared to the consensus estimate of $513.12 million. During the same period in the prior year, the firm earned $2.06 EPS. The firm's revenue for the quarter was up 9.8% on a year-over-year basis. Research analysts anticipate that Paycom Software, Inc. will post 10.80 EPS for the current year.

Insider Buying and Selling at Paycom Software

In related news, insider Shane Hadlock sold 241 shares of the business's stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $240.07, for a total transaction of $57,856.87. Following the completion of the sale, the insider owned 69,911 shares in the company, valued at $16,783,533.77. The trade was a 0.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 13.20% of the company's stock.

Analyst Ratings Changes

PAYC has been the subject of several research reports. Zacks Research lowered Paycom Software from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 5th. UBS Group increased their target price on shares of Paycom Software from $205.00 to $285.00 and gave the company a "buy" rating in a research report on Tuesday, September 1st. BMO Capital Markets boosted their price target on shares of Paycom Software from $145.00 to $208.00 and gave the stock a "market perform" rating in a research report on Thursday, August 6th. BTIG Research upped their price target on Paycom Software from $230.00 to $305.00 and gave the company a "buy" rating in a research report on Monday, October 26th. Finally, KeyCorp increased their price target on Paycom Software from $280.00 to $295.00 and gave the company an "overweight" rating in a report on Wednesday, October 28th. Five investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $256.21.

Paycom Software Profile

Paycom Software, Inc is a provider of cloud-based human capital management (HCM) software designed to help businesses manage employee-related processes through a unified platform. Its solutions support payroll, human resources, talent acquisition and management, time and labor management, compliance, and employee engagement.

The company's software is intended to allow employers and employees to enter and manage workforce information within a single system. Its offerings include payroll processing, benefits administration, expense management, scheduling, performance management, learning, and recruiting tools.

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