Paycom Software logoKestra Advisory Services LLC decreased its stake in shares of Paycom Software, Inc. (NYSE:PAYC – Get Rating) by 7.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 16,785 shares of the software maker’s stock after selling 1,400 shares during the quarter. Kestra Advisory Services LLC’s holdings in Paycom Software were worth $5,209,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in PAYC. Goldman Sachs Group Inc. raised its stake in Paycom Software by 47.8% during the first quarter. Goldman Sachs Group Inc. now owns 877,824 shares of the software maker’s stock valued at $304,061,000 after buying an additional 283,892 shares during the last quarter. Los Angeles Capital Management LLC increased its holdings in shares of Paycom Software by 373.7% in the 3rd quarter. Los Angeles Capital Management LLC now owns 283,116 shares of the software maker’s stock worth $93,425,000 after purchasing an additional 223,351 shares in the last quarter. Balyasny Asset Management LLC increased its holdings in shares of Paycom Software by 456.2% in the 3rd quarter. Balyasny Asset Management LLC now owns 213,415 shares of the software maker’s stock worth $70,425,000 after purchasing an additional 175,042 shares in the last quarter. Eagle Asset Management Inc. increased its holdings in shares of Paycom Software by 45.3% in the 3rd quarter. Eagle Asset Management Inc. now owns 390,838 shares of the software maker’s stock worth $128,972,000 after purchasing an additional 121,943 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of Paycom Software by 8.7% in the 1st quarter. Wellington Management Group LLP now owns 1,359,073 shares of the software maker’s stock worth $470,756,000 after purchasing an additional 108,505 shares in the last quarter. Hedge funds and other institutional investors own 88.58% of the company’s stock.

Insider Activity

In other news, Director Jason D. Clark sold 1,070 shares of the business’s stock in a transaction dated Wednesday, March 15th. The stock was sold at an average price of $278.33, for a total value of $297,813.10. Following the transaction, the director now directly owns 4,741 shares in the company, valued at $1,319,562.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 14.50% of the company’s stock.

Analyst Upgrades and Downgrades

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A number of research firms have commented on PAYC. StockNews.com began coverage on Paycom Software in a report on Thursday, March 16th. They issued a “hold” rating for the company. Oppenheimer lifted their target price on Paycom Software from $360.00 to $400.00 and gave the stock an “outperform” rating in a report on Wednesday, February 8th. Piper Sandler lifted their target price on Paycom Software from $395.00 to $417.00 and gave the stock an “overweight” rating in a report on Wednesday, February 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $450.00 price objective on shares of Paycom Software in a report on Tuesday, March 28th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on Paycom Software from $425.00 to $400.00 and set a “buy” rating for the company in a report on Monday, January 23rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Paycom Software currently has an average rating of “Moderate Buy” and an average price target of $386.38.

Paycom Software Stock Performance

NYSE:PAYC opened at $303.15 on Monday. The stock has a 50-day simple moving average of $294.15 and a two-hundred day simple moving average of $310.93. Paycom Software, Inc. has a 52-week low of $255.82 and a 52-week high of $402.78. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.16 and a current ratio of 1.16. The firm has a market capitalization of $18.28 billion, a PE ratio of 62.51, a P/E/G ratio of 2.03 and a beta of 1.41.

Paycom Software (NYSE:PAYC – Get Rating) last released its quarterly earnings results on Tuesday, February 7th. The software maker reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.24. Paycom Software had a return on equity of 25.62% and a net margin of 20.46%. The business had revenue of $370.61 million during the quarter, compared to analyst estimates of $366.71 million. During the same quarter in the previous year, the company posted $0.82 earnings per share. Paycom Software’s revenue for the quarter was up 30.0% on a year-over-year basis. Analysts forecast that Paycom Software, Inc. will post 5.98 EPS for the current year.

Paycom Software Company Profile

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Paycom Software, Inc engages in the provision of cloud-based human capital management (HCM) software solutions delivered as Software-as-a-Service. It offers functionality and data analytics that businesses need to manage the complete employment life cycle from recruitment to retirement. Its solutions include talent acquisition, time and labor management, payroll, talent management, and human resource management.

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Want to see what other hedge funds are holding PAYC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Paycom Software, Inc. (NYSE:PAYC – Get Rating).

Institutional Ownership by Quarter for Paycom Software (NYSE:PAYC)

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