Absher Wealth Management LLC Buys Shares of 1,958 Paycom Software, Inc. (NYSE:PAYC)

Absher Wealth Management LLC purchased a new position in Paycom Software, Inc. (NYSE:PAYC) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,958 shares of the software maker’s stock, valued at approximately $401,000.

A number of other large investors have also added to or reduced their stakes in the stock. Armstrong Advisory Group Inc. purchased a new stake in shares of Paycom Software during the third quarter valued at $26,000. Brooklyn Investment Group bought a new stake in shares of Paycom Software in the third quarter worth approximately $28,000. Pin Oak Investment Advisors Inc. grew its position 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 purchasing an additional 77 shares during the period. First Horizon Advisors Inc. raised its stake in Paycom Software by 821.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 212 shares of the software maker’s stock valued at $35,000 after buying an additional 189 shares during the last quarter. Finally, Blue Trust Inc. lifted its holdings in shares of Paycom Software by 277.1% during the 3rd quarter. Blue Trust Inc. now owns 264 shares of the software maker’s stock valued at $44,000 after buying an additional 194 shares during the period. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Insider Activity at Paycom Software

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $229.09, for a total transaction of $446,725.50. Following the completion of the sale, the chief executive officer now directly owns 2,731,410 shares in the company, valued at approximately $625,738,716.90. The trade was a 0.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders sold 5,850 shares of company stock valued at $1,333,839 over the last 90 days. Insiders own 12.60% of the company’s stock.

Paycom Software Trading Up 0.4 %

Shares of NYSE:PAYC opened at $206.09 on Thursday. The company has a market capitalization of $11.88 billion, a PE ratio of 24.80, a P/E/G ratio of 2.85 and a beta of 1.15. Paycom Software, Inc. has a 12-month low of $139.50 and a 12-month high of $242.74. The business’s fifty day simple moving average is $214.62 and its 200-day simple moving average is $189.80.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PAYC. Jefferies Financial Group upped their price objective on Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. Citigroup decreased their target price on Paycom Software from $234.00 to $221.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Mizuho upped their price target on Paycom Software from $190.00 to $210.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. Piper Sandler lifted their price objective on Paycom Software from $160.00 to $191.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Finally, TD Cowen increased their target price on shares of Paycom Software from $193.00 to $248.00 and gave the stock a “hold” rating in a report on Monday, December 9th. Eleven research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $204.75.

Paycom Software 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.