Schwab Charles Investment Management Inc. Has $10.08 Million Stake in Paycom Software, Inc. (PAYC)

Schwab Charles Investment Management Inc. boosted its stake in Paycom Software, Inc. (NYSE:PAYC) by 7.3% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 175,261 shares of the software maker’s stock after buying an additional 11,862 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.30% of Paycom Software worth $10,080,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. State Board of Administration of Florida Retirement System increased its position in Paycom Software by 0.7% in the first quarter. State Board of Administration of Florida Retirement System now owns 20,715 shares of the software maker’s stock valued at $1,191,000 after buying an additional 140 shares in the last quarter. 1st Global Advisors Inc. increased its position in Paycom Software by 3.4% in the first quarter. 1st Global Advisors Inc. now owns 5,492 shares of the software maker’s stock valued at $316,000 after buying an additional 182 shares in the last quarter. Neuberger Berman Group LLC increased its position in Paycom Software by 6.6% in the first quarter. Neuberger Berman Group LLC now owns 5,788 shares of the software maker’s stock valued at $333,000 after buying an additional 357 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its position in Paycom Software by 4.2% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 9,403 shares of the software maker’s stock valued at $541,000 after buying an additional 376 shares in the last quarter. Finally, Sapphire Star Partners LP increased its position in Paycom Software by 3.6% in the first quarter. Sapphire Star Partners LP now owns 11,338 shares of the software maker’s stock valued at $652,000 after buying an additional 392 shares in the last quarter. 90.42% of the stock is currently owned by institutional investors and hedge funds.

Paycom Software, Inc. (NYSE:PAYC) traded down 0.28% during trading on Friday, hitting $70.25. The stock had a trading volume of 329,062 shares. The firm has a 50 day moving average of $69.36 and a 200-day moving average of $62.20. Paycom Software, Inc. has a one year low of $39.15 and a one year high of $73.61. The company has a market cap of $4.07 billion, a P/E ratio of 76.19 and a beta of 1.75.

Paycom Software (NYSE:PAYC) last issued its quarterly earnings data on Tuesday, August 1st. The software maker reported $0.24 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.11. Paycom Software had a return on equity of 35.77% and a net margin of 14.28%. The business had revenue of $98.20 million during the quarter, compared to analysts’ expectations of $95.98 million. During the same period in the previous year, the firm posted $0.21 earnings per share. The company’s revenue was up 32.9% on a year-over-year basis. Equities analysts anticipate that Paycom Software, Inc. will post $1.15 earnings per share for the current fiscal year.

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Several research firms have recently weighed in on PAYC. UBS AG reissued a “buy” rating on shares of Paycom Software in a research report on Wednesday, May 3rd. Royal Bank Of Canada reissued a “sector perform” rating and set a $74.00 target price (up previously from $67.00) on shares of Paycom Software in a research report on Tuesday, August 8th. Canaccord Genuity upped their price objective on Paycom Software from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Wednesday, August 2nd. KeyCorp upped their price objective on Paycom Software to $94.00 in a research report on Wednesday, August 2nd. Finally, Oppenheimer Holdings, Inc. upped their price objective on Paycom Software from $65.00 to $75.00 and gave the company an “outperform” rating in a research report on Wednesday, August 2nd. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $75.36.

In other news, insider Stacey M. Pezold sold 30,000 shares of Paycom Software stock in a transaction on Monday, June 19th. The stock was sold at an average price of $70.15, for a total value of $2,104,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Jeffrey D. York sold 40,000 shares of Paycom Software stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $66.93, for a total value of $2,677,200.00. The disclosure for this sale can be found here. Insiders own 17.90% of the company’s stock.

About Paycom Software

Paycom Software, Inc is a provider of a cloud-based human capital management (HCM) software solution delivered as Software-as-a-Service (SaaS). The Company provides functionality and data analytics that businesses need to manage the complete employment life cycle from recruitment to retirement. The Company’s applications streamline client processes and provide clients and their employees with the ability to directly access and manage administrative processes, including applications that identify candidates, on-board employees, manage time and labor, administer payroll deductions and benefits, manage performance, terminate employees and administer post-termination health benefits, such as COBRA.

Institutional Ownership by Quarter for Paycom Software (NYSE:PAYC)

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