Paycom Software, Inc. (NYSE:PAYC) Shares Acquired by Bank of Nova Scotia

Bank of Nova Scotia lifted its position in shares of Paycom Software, Inc. (NYSE:PAYCGet Rating) by 282.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 64,018 shares of the software maker’s stock after purchasing an additional 47,292 shares during the quarter. Bank of Nova Scotia owned 0.11% of Paycom Software worth $17,932,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Toth Financial Advisory Corp grew its stake in Paycom Software by 250.0% in the 2nd quarter. Toth Financial Advisory Corp now owns 91 shares of the software maker’s stock valued at $25,000 after acquiring an additional 65 shares during the period. Zions Bancorporation N.A. grew its stake in Paycom Software by 405.3% in the 2nd quarter. Zions Bancorporation N.A. now owns 96 shares of the software maker’s stock valued at $27,000 after acquiring an additional 77 shares during the period. Clear Street Markets LLC grew its stake in Paycom Software by 421.1% in the 2nd quarter. Clear Street Markets LLC now owns 99 shares of the software maker’s stock valued at $28,000 after acquiring an additional 80 shares during the period. Fairfield Bush & CO. acquired a new stake in Paycom Software in the 1st quarter valued at $48,000. Finally, First Horizon Advisors Inc. grew its stake in Paycom Software by 320.9% in the 2nd quarter. First Horizon Advisors Inc. now owns 181 shares of the software maker’s stock valued at $50,000 after acquiring an additional 138 shares during the period. Institutional investors and hedge funds own 74.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on PAYC shares. Piper Sandler lifted their price target on shares of Paycom Software from $387.00 to $395.00 and gave the company an “overweight” rating in a research note on Wednesday, November 2nd. KeyCorp lifted their target price on shares of Paycom Software from $390.00 to $432.00 and gave the stock an “overweight” rating in a research note on Monday, August 15th. Oppenheimer lifted their target price on shares of Paycom Software from $375.00 to $415.00 in a research note on Thursday, August 11th. Citigroup lifted their target price on shares of Paycom Software from $393.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday, November 2nd. Finally, Barclays lifted their target price on shares of Paycom Software from $339.00 to $343.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 18th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $390.13.

Paycom Software Stock Up 3.2 %

NYSE PAYC opened at $340.35 on Friday. Paycom Software, Inc. has a 52 week low of $255.82 and a 52 week high of $493.57. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.03. The business’s fifty day simple moving average is $334.29 and its 200-day simple moving average is $320.64. The firm has a market cap of $20.43 billion, a PE ratio of 78.97, a P/E/G ratio of 2.57 and a beta of 1.39.

Paycom Software announced that its Board of Directors has initiated a stock repurchase plan on Monday, August 15th that authorizes the company to repurchase $1.10 billion in outstanding shares. This repurchase authorization authorizes the software maker to purchase up to 4.7% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Paycom Software Company Profile

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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.

See Also

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

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