FazzNoth Posted February 27, 2022 Posted February 27, 2022 Balyasny Asset Management LLC decreased its holdings in Paycom Software, Inc. (NYSE:PAYC – Get Rating) by 60.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 56,046 shares of the software maker’s stock after selling 84,776 shares during the period. Balyasny Asset Management LLC owned approximately 0.09% of Paycom Software worth $27,785,000 at the end of the most recent quarter. A number of other hedge funds have also added to or reduced their stakes in the business. BlackRock Inc. lifted its holdings in Paycom Software by 3.8% during the 3rd quarter. BlackRock Inc. now owns 5,390,072 shares of the software maker’s stock worth $2,672,128,000 after buying an additional 198,947 shares in the last quarter. Capital Research Global Investors raised its holdings in shares of Paycom Software by 189.6% in the 3rd quarter. Capital Research Global Investors now owns 1,632,393 shares of the software maker’s stock valued at $809,259,000 after purchasing an additional 1,068,686 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Paycom Software by 25.9% in the 3rd quarter. Wellington Management Group LLP now owns 1,478,690 shares of the software maker’s stock valued at $733,060,000 after purchasing an additional 304,054 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Paycom Software by 1.8% in the 3rd quarter. Geode Capital Management LLC now owns 954,181 shares of the software maker’s stock valued at $471,858,000 after purchasing an additional 17,279 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in shares of Paycom Software by 29.2% in the 3rd quarter. Invesco Ltd. now owns 853,432 shares of the software maker’s stock valued at $423,088,000 after purchasing an additional 192,835 shares in the last quarter. Institutional investors own 72.78% of the company’s stock. A number of equities research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Paycom Software from $655.00 to $450.00 and set a “buy” rating on the stock in a report on Friday, January 21st. Citigroup assumed coverage on shares of Paycom Software in a research note on Tuesday, February 1st. They set a “hold” rating and a $335.00 price target on the stock. DA Davidson upgraded shares of Paycom Software from a “neutral” rating to a “buy” rating and cut their price target for the stock from $550.00 to $385.00 in a research note on Thursday, January 27th. Mizuho lifted their price target on shares of Paycom Software from $325.00 to $350.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 9th. Finally, BMO Capital Markets began coverage on shares of Paycom Software in a research report on Tuesday, February 1st. They set a “market perform” rating and a $335.00 price objective on the stock. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Paycom Software currently has a consensus rating of “Buy” and an average target price of $433.21. PAYC stock opened at $335.64 on Friday. The firm’s 50-day simple moving average is $353.54 and its 200 day simple moving average is $437.41. The stock has a market cap of $20.21 billion, a PE ratio of 113.78, a price-to-earnings-growth ratio of 3.05 and a beta of 1.45. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.03. Paycom Software, Inc. has a fifty-two week low of $296.68 and a fifty-two week high of $558.97. Paycom Software (NYSE:PAYC – Get Rating) last posted its quarterly earnings data on Tuesday, February 8th. The software maker reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.03. The company had revenue of $284.99 million during the quarter, compared to analyst estimates of $275.84 million. Paycom Software had a net margin of 17.31% and a return on equity of 22.57%. The business’s quarterly revenue was up 29.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.41 earnings per share. Equities analysts forecast that Paycom Software, Inc. will post 3.16 EPS for the current fiscal year. Paycom Software Profile (Get Rating) 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. https://www.etfdailynews.com/2022/02/27/paycom-software-inc-nysepayc-shares-sold-by-balyasny-asset-management-llc/
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