Concorde Asset Management LLC decreased its stake in Paycom Software Inc (NYSE:PAYC) by 29.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,805 shares of the software maker’s stock after selling 752 shares during the period. Concorde Asset Management LLC’s holdings in Paycom Software were worth $281,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. SeaCrest Wealth Management LLC lifted its stake in shares of Paycom Software by 154.3% in the second quarter. SeaCrest Wealth Management LLC now owns 1,030 shares of the software maker’s stock worth $102,000 after acquiring an additional 625 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Paycom Software in the second quarter worth about $119,000. Truvestments Capital LLC acquired a new position in shares of Paycom Software in the third quarter worth about $132,000. Rational Advisors LLC acquired a new position in shares of Paycom Software in the second quarter worth about $148,000. Finally, Hexavest Inc. acquired a new position in shares of Paycom Software in the third quarter worth about $149,000. 82.67% of the stock is owned by institutional investors.
Shares of NYSE PAYC opened at $129.59 on Wednesday. Paycom Software Inc has a 52-week low of $74.35 and a 52-week high of $164.08. The company has a market cap of $7.27 billion, a price-to-earnings ratio of 147.26, a PEG ratio of 2.30 and a beta of 1.63. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.06 and a current ratio of 1.06.
Several research analysts recently commented on the company. Credit Suisse Group boosted their price target on Paycom Software from $95.00 to $110.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 1st. ValuEngine upgraded Paycom Software from a “hold” rating to a “buy” rating in a research note on Wednesday, July 11th. Stifel Nicolaus boosted their price target on Paycom Software from $100.00 to $115.00 and gave the stock a “hold” rating in a research note on Wednesday, August 1st. Barclays boosted their price target on Paycom Software from $117.00 to $131.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 1st. Finally, Needham & Company LLC assumed coverage on Paycom Software in a research note on Wednesday, July 18th. They issued a “buy” rating and a $130.00 price target on the stock. Ten research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $119.21.
In other news, Director Robert J. Levenson sold 4,500 shares of the stock in a transaction that occurred on Friday, August 17th. The stock was sold at an average price of $139.53, for a total transaction of $627,885.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Kathy Oden-Hall sold 2,000 shares of the stock in a transaction that occurred on Friday, October 5th. The stock was sold at an average price of $140.21, for a total value of $280,420.00. The disclosure for this sale can be found here. Insiders have sold 78,200 shares of company stock worth $11,855,816 in the last 90 days. 16.24% of the stock is currently owned by insiders.
Paycom Software Profile
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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