Trexquant Investment LP Acquires New Stake in Paycom Software Inc (PAYC)

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Trexquant Investment LP acquired a new stake in shares of Paycom Software Inc (NYSE:PAYC) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 14,975 shares of the software maker’s stock, valued at approximately $1,480,000.

A number of other hedge funds have also added to or reduced their stakes in PAYC. Kayne Anderson Rudnick Investment Management LLC lifted its holdings in shares of Paycom Software by 11.3% in the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 817,595 shares of the software maker’s stock worth $87,802,000 after acquiring an additional 83,185 shares during the last quarter. Eaton Vance Management lifted its holdings in shares of Paycom Software by 0.9% in the 1st quarter. Eaton Vance Management now owns 568,053 shares of the software maker’s stock worth $61,003,000 after acquiring an additional 5,000 shares during the last quarter. Riverbridge Partners LLC bought a new stake in shares of Paycom Software in the 2nd quarter worth about $44,070,000. Fred Alger Management Inc. lifted its holdings in shares of Paycom Software by 29.8% in the 2nd quarter. Fred Alger Management Inc. now owns 330,103 shares of the software maker’s stock worth $32,624,000 after acquiring an additional 75,747 shares during the last quarter. Finally, Ardevora Asset Management LLP bought a new stake in shares of Paycom Software in the 2nd quarter worth about $31,279,000. Institutional investors and hedge funds own 81.20% of the company’s stock.

Shares of PAYC opened at $143.50 on Tuesday. Paycom Software Inc has a 1-year low of $70.00 and a 1-year high of $142.04. The stock has a market cap of $8.20 billion, a P/E ratio of 163.07, a P/E/G ratio of 2.67 and a beta of 1.41. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.06 and a quick ratio of 1.06.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings data on Tuesday, July 31st. The software maker reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.18. Paycom Software had a net margin of 20.85% and a return on equity of 42.01%. The company had revenue of $128.80 million during the quarter, compared to analyst estimates of $124.47 million. research analysts forecast that Paycom Software Inc will post 2.11 EPS for the current fiscal year.

Several equities research analysts have recently issued reports on the stock. Guggenheim assumed coverage on shares of Paycom Software in a report on Monday. They issued a “neutral” rating and a $140.00 target price for the company. Zacks Investment Research upgraded shares of Paycom Software from a “hold” rating to a “strong-buy” rating and set a $155.00 target price for the company in a report on Friday, August 3rd. Barclays raised their target price on shares of Paycom Software from $117.00 to $131.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 1st. Oppenheimer raised their target price on shares of Paycom Software from $120.00 to $127.00 and gave the stock an “outperform” rating in a report on Wednesday, August 1st. Finally, Bank of America raised their target price on shares of Paycom Software from $125.00 to $134.00 and gave the stock a “buy” rating in a report on Wednesday, August 1st. Eight equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $115.47.

In other Paycom Software news, insider Jeffrey D. York sold 50,000 shares of the firm’s stock in a transaction dated Monday, July 2nd. The shares were sold at an average price of $99.84, for a total transaction of $4,992,000.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jason D. Clark sold 350 shares of the firm’s stock in a transaction dated Wednesday, June 13th. The shares were sold at an average price of $110.01, for a total transaction of $38,503.50. The disclosure for this sale can be found here. Insiders have sold a total of 91,637 shares of company stock valued at $9,469,714 in the last quarter. 16.24% of the stock is currently owned by company insiders.

Paycom Software Company Profile

Paycom Software, Inc provides cloud-based human capital management (HCM) software service for small to mid-sized companies in the United States. It provides functionality and data analytics that businesses need to manage the employment life cycle from recruitment to retirement. The company's HCM solution offers a suite of applications in the areas of talent acquisition, including applicant tracking, candidate tracker, background checks, on-boarding, e-verify, and tax credit services; and time and labor management, such as time and attendance, scheduling/schedule exchange, time-off requests, labor allocation, labor management reports/push reporting, and geofencing/geotracking.

See Also: Analyst Ratings

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

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