Swedbank AB Sells 7,950 Shares of Paycom Software, Inc. (NYSE:PAYC)

Swedbank AB lowered its stake in Paycom Software, Inc. (NYSE:PAYC) by 10.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,738 shares of the software maker’s stock after selling 7,950 shares during the quarter. Swedbank AB owned 0.12% of Paycom Software worth $14,089,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of PAYC. Private Trust Co. NA boosted its position in shares of Paycom Software by 11.2% during the 3rd quarter. Private Trust Co. NA now owns 526 shares of the software maker’s stock worth $88,000 after purchasing an additional 53 shares in the last quarter. Wrapmanager Inc. increased its holdings in shares of Paycom Software by 2.6% during the third quarter. Wrapmanager Inc. now owns 2,176 shares of the software maker’s stock valued at $362,000 after acquiring an additional 56 shares in the last quarter. Andina Capital Management LLC lifted its holdings in shares of Paycom Software by 4.0% in the 3rd quarter. Andina Capital Management LLC now owns 1,651 shares of the software maker’s stock worth $275,000 after purchasing an additional 63 shares in the last quarter. Davis Investment Partners LLC increased its stake in Paycom Software by 1.0% during the 3rd quarter. Davis Investment Partners LLC now owns 6,397 shares of the software maker’s stock valued at $1,067,000 after purchasing an additional 64 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Paycom Software by 26.7% in the third quarter. GAMMA Investing LLC now owns 323 shares of the software maker’s stock valued at $54,000 after buying an additional 68 shares in the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on PAYC. Citigroup cut their price target on Paycom Software from $234.00 to $221.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. BMO Capital Markets raised 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. StockNews.com upgraded shares of Paycom Software from a “hold” rating to a “buy” rating in a research note on Friday. Jefferies Financial Group raised their price target on shares of Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. Finally, TD Cowen upped their price objective on shares of Paycom Software from $193.00 to $248.00 and gave the stock a “hold” rating in a research report on Monday, December 9th. Eleven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Paycom Software presently has an average rating of “Hold” and a consensus target price of $204.75.

Insider Transactions at Paycom Software

In related news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $229.09, for a total value of $446,725.50. Following the completion of the transaction, the chief executive officer now directly owns 2,731,410 shares of the company’s stock, valued at approximately $625,738,716.90. This trade represents a 0.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders sold 9,750 shares of company stock worth $2,169,141. 14.50% of the stock is owned by company insiders.

Paycom Software Trading Up 1.1 %

Paycom Software stock opened at $207.42 on Friday. The business’s 50 day simple moving average is $215.83 and its 200 day simple moving average is $188.72. Paycom Software, Inc. has a 12 month low of $139.50 and a 12 month high of $242.74. The company has a market cap of $11.96 billion, a price-to-earnings ratio of 24.96, a PEG ratio of 2.83 and a beta of 1.14.

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.