Granite Investment Partners buys $13,483,766 stake in Paycom Software Inc (PAYC)

Paycom Software Inc (PAYC) : Granite Investment Partners scooped up 3,296 additional shares in Paycom Software Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 265,533 shares of Paycom Software Inc which is valued at $13,483,766.Paycom Software Inc makes up approximately 1.02% of Granite Investment Partners’s portfolio.

Other Hedge Funds, Including , Polar Capital Llp boosted its stake in PAYC in the latest quarter, The investment management firm added 62,591 additional shares and now holds a total of 478,323 shares of Paycom Software Inc which is valued at $24,289,242. Paycom Software Inc makes up approx 0.45% of Polar Capital Llp’s portfolio.Marshall Wace Llp reduced its stake in PAYC by selling 75,465 shares or 45.56% in the most recent quarter. The Hedge Fund company now holds 90,179 shares of PAYC which is valued at $4,579,290. Paycom Software Inc makes up approx 0.04% of Marshall Wace Llp’s portfolio.Raymond James Associates boosted its stake in PAYC in the latest quarter, The investment management firm added 6,969 additional shares and now holds a total of 70,051 shares of Paycom Software Inc which is valued at $3,557,190. Paycom Software Inc makes up approx 0.01% of Raymond James Associates’s portfolio.Blackrock Group Ltd boosted its stake in PAYC in the latest quarter, The investment management firm added 4,501 additional shares and now holds a total of 25,641 shares of Paycom Software Inc which is valued at $1,302,050. Select Asset Management Trust added PAYC to its portfolio by purchasing 85,315 company shares during the most recent quarter which is valued at $4,393,723. Paycom Software Inc makes up approx 10.89% of Select Asset Management Trust’s portfolio.

Paycom Software Inc opened for trading at $51.11 and hit $51.52 on the upside on Thursday, eventually ending the session at $51.35, with a gain of 0.02% or 0.01 points. The heightened volatility saw the trading volume jump to 4,36,037 shares. Company has a market cap of $3,072 M.

On the company’s financial health, Paycom Software Inc reported $0.21 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $0.13. The company had revenue of $73.88 million for the quarter, compared to analysts expectations of $70.70 million. The company’s revenue was up 50.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.10 EPS.

Many Wall Street Analysts have commented on Paycom Software Inc. Company shares were Reiterated by Wunderlich on Aug 3, 2016 to “Buy”, Firm has raised the Price Target to $ 57 from a previous price target of $50 .Company shares were Reiterated by Barclays on Jul 15, 2016 to “Overweight”, Firm has raised the Price Target to $ 51 from a previous price target of $44 .Company shares were Reiterated by Stifel on Jun 16, 2016 to “Buy”, Firm has raised the Price Target to $ 50 from a previous price target of $47 .

Paycom Software Inc. is a provider of cloud-based HCM software solution delivered as SaaS. The Company’s solution requires no customization and is -based on a core system of record maintained in a single database for all HCM functions. Talent acquisition includes applicant tracking candidate tracker background checks on-boarding e-verify and tax credit services. Time and labor management includes time and attendance scheduling/schedule exchange time-off requests labor allocation and labor management reports/push reporting. Payroll includes payroll and tax management Paycom pay expense management and garnishment management. Talent management includes employee self-service compensation budgeting performance management executive dashboard and Paycom learning. Human resources management includes document and task management government and compliance benefits administration COBRA administration personnel action forms surveys and ACA dashboard.

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