Spectrum Asset Management Inc. NB CA Invests $898,000 in Paycom Software, Inc. (NYSE:PAYC)

Spectrum Asset Management Inc. NB CA acquired a new stake in Paycom Software, Inc. (NYSE:PAYC) during the fourth quarter, Holdings Channel.com reports. The firm acquired 4,381 shares of the software maker’s stock, valued at approximately $898,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Private Trust Co. NA lifted 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 during the last quarter. Wrapmanager Inc. increased its position in Paycom Software by 2.6% in the 3rd quarter. Wrapmanager Inc. now owns 2,176 shares of the software maker’s stock worth $362,000 after buying an additional 56 shares during the period. Andina Capital Management LLC lifted its holdings in shares of Paycom Software by 4.0% during the third quarter. Andina Capital Management LLC now owns 1,651 shares of the software maker’s stock worth $275,000 after buying an additional 63 shares during the last quarter. GAMMA Investing LLC boosted its position 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 acquiring an additional 68 shares during the period. Finally, Michael S. Ryan Inc. grew its stake in shares of Paycom Software by 2.5% in the fourth quarter. Michael S. Ryan Inc. now owns 2,796 shares of the software maker’s stock worth $573,000 after acquiring an additional 68 shares during the last quarter. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Jefferies Financial Group increased their price target on shares of Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a report on Thursday, October 31st. Barclays reduced their target price on shares of Paycom Software from $229.00 to $221.00 and set an “equal weight” rating for the company in a research note on Thursday, January 23rd. TD Cowen boosted their price target on Paycom Software from $193.00 to $248.00 and gave the company a “hold” rating in a research note on Monday, December 9th. Citigroup reduced their price objective on Paycom Software from $234.00 to $221.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Finally, BMO Capital Markets boosted their price objective on Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a research report on Thursday, October 31st. Ten equities 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 an average price target of $204.75.

Paycom Software Price Performance

Shares of NYSE:PAYC opened at $204.95 on Friday. The business’s fifty day moving average price is $214.05 and its two-hundred day moving average price is $189.91. Paycom Software, Inc. has a fifty-two week low of $139.50 and a fifty-two week high of $242.74. The stock has a market capitalization of $11.82 billion, a price-to-earnings ratio of 24.66, a price-to-earnings-growth ratio of 2.85 and a beta of 1.15.

Insider Activity

In related news, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $228.38, for a total transaction of $445,341.00. Following the completion of the sale, the chief executive officer now owns 2,735,310 shares in the company, valued at $624,690,097.80. This trade represents a 0.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 12.60% of the stock is owned by corporate insiders.

About Paycom Software

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.