Cwm LLC Has $297,000 Stock Position in Paycom Software, Inc. (NYSE:PAYC)

Posted by Defense World Staff on Apr 25th, 2023

Cwm LLC lifted its holdings in shares of Paycom Software, Inc. (NYSE:PAYC – Get Rating) by 14.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 956 shares of the software maker’s stock after acquiring an additional 124 shares during the quarter. Cwm LLC’s holdings in Paycom Software were worth $297,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in PAYC. Goldman Sachs Group Inc. boosted its stake in shares of Paycom Software by 47.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 877,824 shares of the software maker’s stock worth $304,061,000 after acquiring an additional 283,892 shares during the period. Los Angeles Capital Management LLC boosted its stake in shares of Paycom Software by 373.7% during the 3rd quarter. Los Angeles Capital Management LLC now owns 283,116 shares of the software maker’s stock worth $93,425,000 after acquiring an additional 223,351 shares during the period. Balyasny Asset Management LLC boosted its stake in shares of Paycom Software by 456.2% during the 3rd quarter. Balyasny Asset Management LLC now owns 213,415 shares of the software maker’s stock worth $70,425,000 after acquiring an additional 175,042 shares during the period. Eagle Asset Management Inc. boosted its stake in shares of Paycom Software by 45.3% during the 3rd quarter. Eagle Asset Management Inc. now owns 390,838 shares of the software maker’s stock worth $128,972,000 after acquiring an additional 121,943 shares during the period. Finally, Wellington Management Group LLP boosted its stake in shares of Paycom Software by 8.7% during the 1st quarter. Wellington Management Group LLP now owns 1,359,073 shares of the software maker’s stock worth $470,756,000 after acquiring an additional 108,505 shares during the period. 88.58% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Paycom Software news, Director Jason D. Clark sold 1,070 shares of the company’s stock in a transaction dated Wednesday, March 15th. The stock was sold at an average price of $278.33, for a total value of $297,813.10. Following the completion of the transaction, the director now owns 4,741 shares of the company’s stock, valued at approximately $1,319,562.53. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 14.50% of the company’s stock.

Paycom Software Price Performance

Paycom Software stock opened at $298.54 on Tuesday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.16 and a current ratio of 1.16. Paycom Software, Inc. has a 52 week low of $255.82 and a 52 week high of $402.78. The stock has a market capitalization of $18.00 billion, a P/E ratio of 61.55, a price-to-earnings-growth ratio of 2.01 and a beta of 1.41. The stock has a fifty day moving average of $291.32 and a 200-day moving average of $309.24.

Paycom Software (NYSE:PAYC – Get Rating) last posted its quarterly earnings results on Tuesday, February 7th. The software maker reported $1.73 EPS for the quarter, topping analysts’ consensus estimates of $1.49 by $0.24. Paycom Software had a return on equity of 25.62% and a net margin of 20.46%. The company had revenue of $370.61 million during the quarter, compared to analysts’ expectations of $366.71 million. During the same quarter in the previous year, the firm earned $0.82 EPS. Paycom Software’s revenue was up 30.0% on a year-over-year basis. On average, sell-side analysts expect that Paycom Software, Inc. will post 5.98 earnings per share for the current fiscal year.

Analyst Ratings Changes

PAYC has been the subject of several research analyst reports. Piper Sandler lifted their target price on Paycom Software from $395.00 to $417.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 8th. Oppenheimer boosted their price target on Paycom Software from $360.00 to $400.00 and gave the company an “outperform” rating in a research note on Wednesday, February 8th. Barclays boosted their price target on Paycom Software from $324.00 to $336.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 8th. Moffett Nathanson assumed coverage on Paycom Software in a research note on Monday, January 9th. They issued an “underperform” rating and a $310.00 price target for the company. Finally, StockNews.com initiated coverage on Paycom Software in a research note on Thursday, March 16th. They issued a “hold” rating for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Paycom Software currently has a consensus rating of “Moderate Buy” and a consensus price target of $386.38.

About Paycom Software

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Paycom Software, Inc engages in the provision of cloud-based human capital management (HCM) software solutions delivered as Software-as-a-Service. It offers functionality and data analytics that businesses need to manage the complete employment life cycle from recruitment to retirement. Its solutions include talent acquisition, time and labor management, payroll, talent management, and human resource management.