LPL Financial LLC Has $15.84 Million Holdings in Paycom Software, Inc. (NYSE:PAYC)



LPL Financial LLC raised its holdings in shares of Paycom Software, Inc. (NYSE:PAYCGet Rating) by 10.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 56,530 shares of the software maker’s stock after purchasing an additional 5,527 shares during the period. LPL Financial LLC owned 0.09% of Paycom Software worth $15,835,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Kayne Anderson Rudnick Investment Management LLC raised its position in shares of Paycom Software by 1.3% in the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 449,678 shares of the software maker’s stock valued at $125,964,000 after acquiring an additional 5,837 shares during the period. Ossiam raised its position in shares of Paycom Software by 1,101.9% in the 2nd quarter. Ossiam now owns 4,447 shares of the software maker’s stock valued at $1,246,000 after acquiring an additional 4,077 shares during the period. First Growth Investment Manager LP raised its position in shares of Paycom Software by 1.3% in the 2nd quarter. First Growth Investment Manager LP now owns 14,529 shares of the software maker’s stock valued at $4,070,000 after acquiring an additional 192 shares during the period. First National Advisers LLC acquired a new stake in shares of Paycom Software in the 2nd quarter valued at approximately $384,000. Finally, Commerce Bank raised its position in shares of Paycom Software by 5.0% in the 2nd quarter. Commerce Bank now owns 13,091 shares of the software maker’s stock valued at $3,667,000 after acquiring an additional 619 shares during the period. 74.43% of the stock is currently owned by institutional investors and hedge funds.

Paycom Software Price Performance

Shares of PAYC opened at $339.87 on Friday. The stock has a market capitalization of $20.40 billion, a P/E ratio of 78.86, a P/E/G ratio of 2.91 and a beta of 1.37. Paycom Software, Inc. has a twelve month low of $255.82 and a twelve month high of $442.38. The company has a 50 day moving average of $327.46 and a 200-day moving average of $324.96. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.03.

Paycom Software declared that its board has authorized a stock repurchase plan on Monday, August 15th that permits the company to repurchase $1.10 billion in shares. This repurchase authorization permits the software maker to repurchase up to 4.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

PAYC has been the topic of a number of analyst reports. Cowen increased their price target on shares of Paycom Software from $365.00 to $381.00 in a research report on Wednesday, November 2nd. Barclays raised their target price on shares of Paycom Software from $339.00 to $343.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 18th. KeyCorp raised their target price on shares of Paycom Software from $390.00 to $432.00 and gave the stock an “overweight” rating in a report on Monday, August 15th. Wolfe Research raised their target price on shares of Paycom Software from $400.00 to $410.00 and gave the stock an “outperform” rating in a report on Wednesday, November 2nd. Finally, Credit Suisse Group raised their target price on shares of Paycom Software from $425.00 to $430.00 and gave the stock an “outperform” rating in a report on Wednesday, November 2nd. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Paycom Software currently has a consensus rating of “Moderate Buy” and an average target price of $390.13.

About Paycom Software

(Get Rating)

Paycom Software, Inc provides cloud-based human capital management (HCM) solution delivered as software-as-a-service for small to mid-sized companies in the United States. It offers functionality and data analytics that businesses need to manage the employment life cycle from recruitment to retirement.

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



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