Silvant Capital Management LLC purchased a new position in Paycom (NYSE:PAYC) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,876 shares of the software maker’s stock, valued at approximately $524,000.
Other institutional investors have also recently added to or reduced their stakes in the company. Advisors Preferred LLC bought a new position in Paycom in the first quarter valued at $117,000. Envestnet Asset Management Inc. increased its stake in Paycom by 613.3% in the first quarter. Envestnet Asset Management Inc. now owns 1,398 shares of the software maker’s stock valued at $149,000 after acquiring an additional 1,202 shares during the last quarter. Comerica Bank bought a new position in Paycom in the first quarter valued at $207,000. D.A. Davidson & CO. bought a new position in Paycom in the first quarter valued at $204,000. Finally, Van Hulzen Asset Management LLC bought a new position in Paycom in the first quarter valued at $208,000. 87.00% of the stock is currently owned by hedge funds and other institutional investors.
Paycom opened at $103.52 on Friday, according to Marketbeat. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.10. The stock has a market cap of $6.01 billion, a price-to-earnings ratio of 117.64, a price-to-earnings-growth ratio of 2.28 and a beta of 1.47. Paycom has a 12-month low of $62.17 and a 12-month high of $118.45.
Paycom announced that its board has authorized a share buyback program on Tuesday, February 13th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the software maker to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.
A number of research firms recently commented on PAYC. Stifel Nicolaus cut Paycom from a “buy” rating to a “hold” rating and increased their target price for the company from $90.00 to $100.00 in a research note on Thursday, March 22nd. They noted that the move was a valuation call. Barclays increased their target price on Paycom from $115.00 to $117.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 2nd. Oppenheimer upped their price target on shares of Paycom from $98.00 to $120.00 and gave the company an “outperform” rating in a research report on Tuesday, March 27th. Robert W. Baird upped their price target on shares of Paycom from $82.00 to $92.00 and gave the company an “outperform” rating in a research report on Wednesday, February 7th. They noted that the move was a valuation call. Finally, KeyCorp restated a “buy” rating and set a $105.00 price target on shares of Paycom in a research report on Monday, February 12th. Eight equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $102.29.
In other news, insider Stacey M. Pezold sold 58,000 shares of the stock in a transaction dated Monday, April 16th. The shares were sold at an average price of $111.20, for a total transaction of $6,449,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert J. Levenson sold 18,750 shares of the stock in a transaction dated Monday, May 7th. The stock was sold at an average price of $108.34, for a total transaction of $2,031,375.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 162,750 shares of company stock valued at $17,417,816. 16.24% of the stock is currently owned by company insiders.
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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