Assenagon Asset Management S.A. Invests $550,000 in Paycom Software, Inc. (NYSE:PAYC)

Assenagon Asset Management S.A. bought a new stake in Paycom Software, Inc. (NYSE:PAYCGet Rating) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,668 shares of the software maker’s stock, valued at approximately $550,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Toth Financial Advisory Corp increased its holdings in shares of Paycom Software by 250.0% during the second 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 in the last quarter. Zions Bancorporation N.A. increased its stake in Paycom Software by 405.3% during the 2nd quarter. Zions Bancorporation N.A. now owns 96 shares of the software maker’s stock valued at $27,000 after purchasing an additional 77 shares in the last quarter. Clear Street Markets LLC raised its holdings in Paycom Software by 421.1% during the second quarter. Clear Street Markets LLC now owns 99 shares of the software maker’s stock worth $28,000 after buying an additional 80 shares during the last quarter. Fairfield Bush & CO. bought a new position in shares of Paycom Software in the first quarter valued at $48,000. Finally, SeaCrest Wealth Management LLC acquired a new position in shares of Paycom Software during the second quarter valued at about $49,000. 88.58% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on PAYC. Piper Sandler upped their target price on shares of Paycom Software from $387.00 to $395.00 and gave the stock an “overweight” rating in a report on Wednesday, November 2nd. Wolfe Research raised their target price on Paycom Software from $400.00 to $410.00 and gave the company an “outperform” rating in a report on Wednesday, November 2nd. Barclays decreased their price target on Paycom Software from $347.00 to $324.00 and set an “equal weight” rating for the company in a report on Tuesday, January 10th. Cowen raised their price objective on Paycom Software from $365.00 to $381.00 in a research note on Wednesday, November 2nd. Finally, Citigroup upped 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. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $384.29.

Paycom Software Trading Up 0.1 %

NYSE:PAYC opened at $304.46 on Tuesday. Paycom Software, Inc. has a 12 month low of $255.82 and a 12 month high of $402.78. 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 firm’s 50 day moving average is $315.28 and its 200 day moving average is $330.58. The stock has a market capitalization of $18.27 billion, a PE ratio of 70.64, a price-to-earnings-growth ratio of 2.07 and a beta of 1.38.

Paycom Software (NYSE:PAYCGet Rating) last issued its quarterly earnings results on Tuesday, November 1st. The software maker reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.11. The firm had revenue of $334.17 million for the quarter, compared to analysts’ expectations of $328.09 million. Paycom Software had a return on equity of 24.24% and a net margin of 19.40%. Sell-side analysts expect 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 engages in the provision of cloud-based human capital management (HCM) software solutions delivered as Software-as-a-Service. It offers functionality and data analytics that businesses need to manage the complete employment life cycle from recruitment to retirement. Its solutions include talent acquisition, time and labor management, payroll, talent management, and human resource management.

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

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