Paycom Software, Inc. (NYSE:PAYC) Shares Sold by Lazard Asset Management LLC

Lazard Asset Management LLC trimmed its stake in shares of Paycom Software, Inc. (NYSE:PAYCGet Rating) by 87.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 271 shares of the software maker’s stock after selling 1,878 shares during the period. Lazard Asset Management LLC’s holdings in Paycom Software were worth $75,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of PAYC. Mutual of America Capital Management LLC lifted its position in shares of Paycom Software by 1.1% during the 1st quarter. Mutual of America Capital Management LLC now owns 6,426 shares of the software maker’s stock valued at $2,226,000 after acquiring an additional 70 shares during the period. Metis Global Partners LLC purchased a new position in shares of Paycom Software during the 1st quarter worth approximately $271,000. Arizona State Retirement System increased its stake in shares of Paycom Software by 2.1% during the 1st quarter. Arizona State Retirement System now owns 14,202 shares of the software maker’s stock worth $4,919,000 after purchasing an additional 295 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Paycom Software by 6.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 114,733 shares of the software maker’s stock worth $39,741,000 after purchasing an additional 7,092 shares in the last quarter. Finally, Benjamin Edwards Inc. increased its stake in shares of Paycom Software by 9,833.3% during the 1st quarter. Benjamin Edwards Inc. now owns 298 shares of the software maker’s stock worth $103,000 after purchasing an additional 295 shares in the last quarter. 74.43% of the stock is currently owned by institutional investors and hedge funds.

Paycom Software Price Performance

Shares of Paycom Software stock opened at $327.21 on Friday. Paycom Software, Inc. has a twelve month low of $255.82 and a twelve month high of $457.70. The stock has a market capitalization of $19.64 billion, a P/E ratio of 75.92, a PEG ratio of 2.74 and a beta of 1.39. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.03. The business’s fifty day moving average price is $328.38 and its 200 day moving average price is $322.40.

Paycom Software declared that its board has approved 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 repurchase up to 4.7% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

PAYC has been the subject of a number of recent research reports. Oppenheimer raised their price objective on shares of Paycom Software from $375.00 to $415.00 in a research note on Thursday, August 11th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $335.00 target price on shares of Paycom Software in a research note on Wednesday, August 3rd. Credit Suisse Group increased their price target on Paycom Software from $425.00 to $430.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 2nd. Piper Sandler raised their price objective on Paycom Software from $387.00 to $395.00 and gave the stock an “overweight” rating in a report on Wednesday, November 2nd. Finally, Cowen raised their price objective on Paycom Software from $365.00 to $381.00 in a report on Wednesday, November 2nd. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $390.13.

Paycom Software 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.

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

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