Zurcher Kantonalbank Zurich Cantonalbank decreased its position in Paycom Software Inc (NYSE:PAYC) by 7.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,384 shares of the software maker’s stock after selling 873 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Paycom Software were worth $3,526,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in PAYC. 1776 Wealth LLC boosted its holdings in shares of Paycom Software by 265.7% during the first quarter. 1776 Wealth LLC now owns 128 shares of the software maker’s stock worth $25,000 after purchasing an additional 93 shares during the period. Rockefeller Capital Management L.P. grew its position in shares of Paycom Software by 588.9% in the 1st quarter. Rockefeller Capital Management L.P. now owns 124 shares of the software maker’s stock worth $25,000 after buying an additional 106 shares during the last quarter. Trustcore Financial Services LLC purchased a new position in shares of Paycom Software during the first quarter valued at approximately $34,000. Cognios Capital LLC bought a new position in shares of Paycom Software during the first quarter valued at approximately $36,000. Finally, Creative Financial Designs Inc. ADV lifted its stake in Paycom Software by 101.7% in the second quarter. Creative Financial Designs Inc. ADV now owns 121 shares of the software maker’s stock worth $37,000 after acquiring an additional 61 shares during the period. Hedge funds and other institutional investors own 75.20% of the company’s stock.
Several research analysts have commented on PAYC shares. Piper Sandler initiated coverage on shares of Paycom Software in a report on Thursday, May 21st. They issued a “neutral” rating and a $281.00 price objective for the company. Jefferies Financial Group lowered their price objective on shares of Paycom Software from $225.00 to $215.00 and set a “hold” rating for the company in a report on Wednesday, April 29th. Cantor Fitzgerald reduced their target price on Paycom Software from $314.00 to $245.00 and set a “neutral” rating on the stock in a report on Wednesday, April 29th. Citigroup increased their target price on Paycom Software from $262.00 to $315.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Finally, Zacks Investment Research lowered Paycom Software from a “hold” rating to a “sell” rating and set a $254.00 price target on the stock. in a research report on Monday, May 4th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $259.81.
In other news, Director Robert J. Levenson sold 2,777 shares of the stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $291.87, for a total value of $810,522.99. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Craig E. Boelte sold 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 15th. The stock was sold at an average price of $293.26, for a total transaction of $2,346,080.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 447,942 shares of company stock worth $120,871,330. Company insiders own 16.10% of the company’s stock.
NYSE:PAYC opened at $284.37 on Friday. The company has a market cap of $16.65 billion, a PE ratio of 88.31, a price-to-earnings-growth ratio of 4.33 and a beta of 1.55. 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 company has a 50 day simple moving average of $305.20 and a two-hundred day simple moving average of $274.43. Paycom Software Inc has a 12 month low of $163.42 and a 12 month high of $342.00.
Paycom Software Company 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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