Ninety One UK Ltd Reduces Stock Position in Paycom Software, Inc. (NYSE:PAYC)

Ninety One UK Ltd trimmed its position in Paycom Software, Inc. (NYSE:PAYC) by 0.8% in the 4th quarter, HoldingsChannel reports. The firm owned 175,548 shares of the software maker’s stock after selling 1,498 shares during the quarter. Ninety One UK Ltd’s holdings in Paycom Software were worth $35,982,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Private Trust Co. NA raised its position in 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 buying an additional 53 shares during the last quarter. Wrapmanager Inc. increased its stake in shares of Paycom Software by 2.6% in the third quarter. Wrapmanager Inc. now owns 2,176 shares of the software maker’s stock worth $362,000 after acquiring an additional 56 shares during the period. Andina Capital Management LLC raised 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 purchasing an additional 63 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Paycom Software by 26.7% during the third quarter. GAMMA Investing LLC now owns 323 shares of the software maker’s stock worth $54,000 after purchasing an additional 68 shares during the last quarter. Finally, Michael S. Ryan Inc. lifted its position in Paycom Software by 2.5% during the fourth quarter. Michael S. Ryan Inc. now owns 2,796 shares of the software maker’s stock valued at $573,000 after purchasing an additional 68 shares during the period. Institutional investors and hedge funds own 87.77% of the company’s stock.

Wall Street Analyst Weigh In

PAYC has been the subject of a number of recent research reports. TD Cowen lifted their price objective on Paycom Software from $193.00 to $248.00 and gave the company a “hold” rating in a research note on Monday, December 9th. Barclays reduced their price target on Paycom Software from $229.00 to $221.00 and set an “equal weight” rating for the company in a research report on Thursday, January 23rd. StockNews.com upgraded Paycom Software from a “hold” rating to a “buy” rating in a research report on Friday, January 31st. 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 report on Thursday, January 16th. Finally, Mizuho raised their price target on shares of Paycom Software from $190.00 to $210.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Eleven analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $204.75.

Paycom Software Trading Up 0.0 %

Shares of Paycom Software stock opened at $205.29 on Wednesday. Paycom Software, Inc. has a twelve month low of $139.50 and a twelve month high of $242.74. The firm’s 50-day moving average price is $214.62 and its 200 day moving average price is $189.80. The firm has a market capitalization of $11.84 billion, a PE ratio of 24.70, a P/E/G 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 on Wednesday, November 13th. The stock was 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 represents a 0.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 5,850 shares of company stock worth $1,333,839 over the last quarter. 12.60% of the stock is currently 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.