Truist Financial Corp Acquires 46 Shares of Paycom Software, Inc. (NYSE:PAYC)

Truist Financial Corp boosted its holdings in shares of Paycom Software, Inc. (NYSE:PAYCGet Rating) by 0.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,639 shares of the software maker’s stock after purchasing an additional 46 shares during the period. Truist Financial Corp’s holdings in Paycom Software were worth $3,511,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Wipfli Financial Advisors LLC bought a new position in Paycom Software during the third quarter worth about $115,000. Riverbridge Partners LLC raised its stake in shares of Paycom Software by 15.9% in the third quarter. Riverbridge Partners LLC now owns 417,427 shares of the software maker’s stock valued at $137,747,000 after acquiring an additional 57,365 shares during the last quarter. Moody Lynn & Lieberson LLC raised its stake in shares of Paycom Software by 18.4% in the third quarter. Moody Lynn & Lieberson LLC now owns 70,539 shares of the software maker’s stock valued at $23,277,000 after acquiring an additional 10,960 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Paycom Software by 5.0% in the third quarter. Janney Montgomery Scott LLC now owns 9,888 shares of the software maker’s stock valued at $3,263,000 after acquiring an additional 473 shares during the last quarter. Finally, Fifth Third Bancorp raised its stake in shares of Paycom Software by 10.8% in the third quarter. Fifth Third Bancorp now owns 1,522 shares of the software maker’s stock valued at $502,000 after acquiring an additional 148 shares during the last quarter. Institutional investors own 88.58% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Wolfe Research lifted their target price on shares of Paycom Software from $400.00 to $410.00 and gave the company an “outperform” rating in a research note on Wednesday, November 2nd. Moffett Nathanson assumed coverage on shares of Paycom Software in a research note on Monday, January 9th. They issued an “underperform” rating and a $310.00 target price for the company. Barclays lowered their price target on shares of Paycom Software from $347.00 to $324.00 and set an “equal weight” rating for the company in a report on Tuesday. Cowen raised their price target on shares of Paycom Software from $365.00 to $381.00 in a report on Wednesday, November 2nd. Finally, Cowen raised their price target on shares of Paycom Software from $365.00 to $381.00 in a report on Wednesday, November 2nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $384.29.

Paycom Software Price Performance

PAYC opened at $304.46 on Friday. The company has a fifty day moving average price of $315.11 and a two-hundred day moving average price of $329.78. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.17 and a current ratio of 1.17. Paycom Software, Inc. has a 52 week low of $255.82 and a 52 week high of $402.78. The firm has a market capitalization of $18.27 billion, a PE ratio of 70.64, a P/E/G ratio of 1.99 and a beta of 1.38.

Paycom Software (NYSE:PAYCGet Rating) last released its earnings results on Tuesday, November 1st. The software maker reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.81 by $0.11. Paycom Software had a net margin of 19.40% and a return on equity of 24.24%. The firm had revenue of $334.17 million during the quarter, compared to analyst estimates of $328.09 million. As a group, analysts anticipate that Paycom Software, Inc. will post 4.67 earnings per share for the current year.

About Paycom Software

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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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