KBC Group NV Grows Position in Paycom Software, Inc. (NYSE:PAYC)

KBC Group NV lifted its position in shares of Paycom Software, Inc. (NYSE:PAYC) by 71.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,052 shares of the software maker’s stock after purchasing an additional 13,319 shares during the quarter. KBC Group NV owned 0.06% of Paycom Software worth $6,570,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in PAYC. Armstrong Advisory Group Inc. acquired a new stake in Paycom Software in the third quarter valued at approximately $26,000. Brooklyn Investment Group acquired a new stake in Paycom Software in the 3rd quarter valued at $28,000. Pin Oak Investment Advisors Inc. increased its holdings in Paycom Software by 73.3% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 182 shares of the software maker’s stock worth $30,000 after acquiring an additional 77 shares in the last quarter. First Horizon Advisors Inc. increased its holdings in Paycom Software by 821.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 212 shares of the software maker’s stock worth $35,000 after acquiring an additional 189 shares in the last quarter. Finally, Blue Trust Inc. raised its position in Paycom Software by 277.1% during the third quarter. Blue Trust Inc. now owns 264 shares of the software maker’s stock worth $44,000 after acquiring an additional 194 shares during the period. 87.77% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $211.76, for a total value of $412,932.00. Following the completion of the sale, the chief executive officer now owns 2,745,060 shares of the company’s stock, valued at $581,293,905.60. This represents a 0.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders have sold 9,750 shares of company stock valued at $2,169,141 over the last ninety days. Company insiders own 14.50% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on PAYC shares. Citigroup cut their target price on shares of Paycom Software from $234.00 to $221.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Barclays reduced their target price on Paycom Software from $229.00 to $221.00 and set an “equal weight” rating for the company in a report on Thursday, January 23rd. Piper Sandler lifted their price target on Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. BMO Capital Markets increased their price objective on Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a research note on Thursday, October 31st. Finally, StockNews.com lowered Paycom Software from a “buy” rating to a “hold” rating in a report on Wednesday, January 15th. Twelve research analysts have rated the stock with a hold rating, Based on data from MarketBeat, Paycom Software currently has an average rating of “Hold” and a consensus price target of $204.75.

Paycom Software Stock Down 0.5 %

NYSE PAYC opened at $205.36 on Friday. The business’s fifty day simple moving average is $216.72 and its 200-day simple moving average is $188.24. The firm has a market cap of $11.84 billion, a PE ratio of 24.71, a P/E/G ratio of 2.85 and a beta of 1.14. Paycom Software, Inc. has a 52 week low of $139.50 and a 52 week high of $242.74.

Paycom Software Company Profile

Paycom Software, Inc provides cloud-based human capital management (HCM) solution delivered as software-as-a-service for small to mid-sized companies in the United States. It offers functionality and data analytics that businesses need to manage the employment life cycle from recruitment to retirement.