Merriman Wealth Management LLC Has $1.27 Million Stake in Paycom Software, Inc. (NYSE:PAYC)

Merriman Wealth Management LLC increased its holdings in Paycom Software, Inc. (NYSE:PAYC) by 13.4% in the second quarter, Holdings Channel reports. The institutional investor owned 3,491 shares of the software maker’s stock after buying an additional 413 shares during the period. Merriman Wealth Management LLC’s holdings in Paycom Software were worth $1,269,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. CSat Investment Advisory L.P. increased its stake in Paycom Software by 66.2% in the first quarter. CSat Investment Advisory L.P. now owns 113 shares of the software maker’s stock valued at $42,000 after acquiring an additional 45 shares during the last quarter. Berman Capital Advisors LLC increased its stake in Paycom Software by 79.7% in the first quarter. Berman Capital Advisors LLC now owns 142 shares of the software maker’s stock valued at $52,000 after acquiring an additional 63 shares during the last quarter. KB Financial Partners LLC bought a new position in Paycom Software in the first quarter valued at approximately $53,000. RE Advisers Corp bought a new position in Paycom Software in the second quarter valued at approximately $53,000. Finally, Burleson & Company LLC bought a new position in Paycom Software in the first quarter valued at approximately $56,000. 71.98% of the stock is currently owned by institutional investors and hedge funds.

PAYC stock traded up $7.55 during midday trading on Wednesday, hitting $500.08. The stock had a trading volume of 9,917 shares, compared to its average volume of 390,568. The firm has a market cap of $30.05 billion, a P/E ratio of 169.84, a price-to-earnings-growth ratio of 6.11 and a beta of 1.44. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.04. Paycom Software, Inc. has a 1-year low of $265.71 and a 1-year high of $503.25. The business has a fifty day moving average price of $449.11 and a two-hundred day moving average price of $392.04.

Paycom Software (NYSE:PAYC) last released its earnings results on Tuesday, August 3rd. The software maker reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.47. The business had revenue of $242.15 million for the quarter, compared to analyst estimates of $232.23 million. Paycom Software had a net margin of 18.11% and a return on equity of 23.72%. On average, equities analysts anticipate that Paycom Software, Inc. will post 3.16 EPS for the current year.

A number of research analysts recently issued reports on the stock. Wolfe Research lifted their price objective on shares of Paycom Software from $400.00 to $450.00 and gave the company an “outperform” rating in a research note on Wednesday, August 4th. Jefferies Financial Group boosted their target price on shares of Paycom Software from $470.00 to $500.00 and gave the stock a “buy” rating in a research note on Wednesday, August 4th. Needham & Company LLC boosted their target price on shares of Paycom Software from $420.00 to $495.00 and gave the stock a “buy” rating in a research note on Wednesday, August 4th. Piper Sandler boosted their target price on shares of Paycom Software from $417.00 to $472.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 4th. Finally, Oppenheimer boosted their target price on shares of Paycom Software from $475.00 to $500.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 4th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $438.06.

In other news, COO Jon Evans sold 300 shares of the business’s stock in a transaction dated Monday, August 9th. The shares were sold at an average price of $475.12, for a total transaction of $142,536.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Craig E. Boelte sold 20,000 shares of the business’s stock in a transaction dated Tuesday, July 6th. The stock was sold at an average price of $387.26, for a total transaction of $7,745,200.00. The disclosure for this sale can be found here. Insiders have sold 27,200 shares of company stock worth $10,829,875 in the last quarter. Company insiders own 15.90% of the company’s stock.

About Paycom Software

Paycom Software, Inc provides comprehensive, cloud-based human capital management (HCM) software solutions delivered as Software-as-a-Service. It provides functionality and data analytics that businesses need to manage the complete employment life cycle from recruitment to retirement. Its solutions requires virtually no customization and is based on a core system of record maintained in a single database for all HCM functions, including talent acquisition, time and labor management, payroll, talent management and human resources management applications.

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

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