Asset Management One Co. Ltd. Sells 745 Shares of Paycom Software, Inc. (NYSE:PAYC)

Posted by Defense World Staff on Apr 30th, 2023

Asset Management One Co. Ltd. lowered its holdings in shares of Paycom Software, Inc. (NYSE:PAYC – Get Rating) by 3.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,965 shares of the software maker’s stock after selling 745 shares during the period. Asset Management One Co. Ltd.’s holdings in Paycom Software were worth $6,225,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PAYC. Accurate Wealth Management LLC bought a new position in shares of Paycom Software during the fourth quarter valued at $29,000. General Partner Inc. purchased a new stake in Paycom Software during the 4th quarter valued at about $33,000. Ellevest Inc. increased its stake in Paycom Software by 89.8% during the 3rd quarter. Ellevest Inc. now owns 112 shares of the software maker’s stock valued at $37,000 after purchasing an additional 53 shares in the last quarter. Sonnipe Ltd purchased a new position in Paycom Software in the fourth quarter worth about $38,000. Finally, Pinnacle Financial Partners Inc. purchased a new position in Paycom Software in the third quarter worth about $43,000. Hedge funds and other institutional investors own 88.58% of the company’s stock.

Paycom Software Stock Performance

Shares of NYSE PAYC opened at $290.37 on Friday. Paycom Software, Inc. has a 12-month low of $255.82 and a 12-month high of $402.78. The firm has a market capitalization of $17.51 billion, a price-to-earnings ratio of 59.87, a price-to-earnings-growth ratio of 1.93 and a beta of 1.41. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.02. The firm has a 50 day moving average of $289.28 and a 200 day moving average of $308.28.

Paycom Software (NYSE:PAYC – Get Rating) last issued its quarterly earnings data on Tuesday, February 7th. The software maker reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.49 by $0.24. Paycom Software had a net margin of 20.46% and a return on equity of 25.62%. The firm had revenue of $370.61 million during the quarter, compared to the consensus estimate of $366.71 million. During the same quarter in the previous year, the firm posted $0.82 EPS. The company’s revenue for the quarter was up 30.0% compared to the same quarter last year. On average, research analysts anticipate that Paycom Software, Inc. will post 6 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Jason D. Clark sold 1,070 shares of the business’s stock in a transaction that occurred on Wednesday, March 15th. The stock was sold at an average price of $278.33, for a total transaction of $297,813.10. Following the completion of the transaction, the director now directly owns 4,741 shares in the company, valued at approximately $1,319,562.53. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 14.50% of the company’s stock.

Analyst Ratings Changes

PAYC has been the subject of several analyst reports. Mizuho reissued a “neutral” rating and set a $350.00 price target on shares of Paycom Software in a research report on Wednesday, February 8th. Piper Sandler lifted their target price on Paycom Software from $395.00 to $417.00 and gave the stock an “overweight” rating in a report on Wednesday, February 8th. StockNews.com started coverage on Paycom Software in a report on Thursday, March 16th. They set a “hold” rating on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $450.00 price objective on shares of Paycom Software in a research report on Tuesday, March 28th. Finally, Oppenheimer boosted their target price on Paycom Software from $360.00 to $400.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $386.38.

Paycom Software Company Profile

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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.