Paycom Software, Inc. (NYSE:PAYC) Position Trimmed by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lowered its stake in Paycom Software, Inc. (NYSE:PAYC) by 26.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,626 shares of the software maker’s stock after selling 4,459 shares during the period. Janney Montgomery Scott LLC’s holdings in Paycom Software were worth $2,588,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Marshall Wace LLP purchased a new position in Paycom Software during the 2nd quarter worth approximately $1,867,000. The Manufacturers Life Insurance Company boosted its position in shares of Paycom Software by 2.3% in the second quarter. The Manufacturers Life Insurance Company now owns 39,571 shares of the software maker’s stock worth $5,660,000 after buying an additional 879 shares during the period. Creative Planning grew its holdings in shares of Paycom Software by 13.2% during the second quarter. Creative Planning now owns 5,951 shares of the software maker’s stock valued at $851,000 after buying an additional 692 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in Paycom Software by 3.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 14,962 shares of the software maker’s stock valued at $2,140,000 after buying an additional 489 shares during the period. Finally, NewEdge Advisors LLC lifted its stake in Paycom Software by 191.9% in the 2nd quarter. NewEdge Advisors LLC now owns 11,394 shares of the software maker’s stock worth $1,630,000 after acquiring an additional 7,491 shares in the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Paycom Software Trading Up 1.1 %

Shares of Paycom Software stock opened at $207.42 on Friday. The firm has a fifty day simple moving average of $215.83 and a 200-day simple moving average of $188.91. The stock has a market capitalization 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, Inc. has a 1-year low of $139.50 and a 1-year high of $242.74.

Insider Buying and Selling at Paycom Software

In other news, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $216.60, for a total transaction of $422,370.00. Following the completion of the transaction, the chief executive officer now owns 2,743,110 shares of the company’s stock, valued at approximately $594,157,626. This represents a 0.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 9,750 shares of company stock worth $2,169,141 over the last ninety days. Company insiders own 14.50% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on PAYC shares. Citigroup lowered their target price on Paycom Software from $234.00 to $221.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. StockNews.com raised shares of Paycom Software from a “hold” rating to a “buy” rating in a research report on Friday. 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 research report on Monday, December 9th. BMO Capital Markets boosted their price target on shares of Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a report on Thursday, October 31st. Finally, Piper Sandler upped their price target on shares of Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Eleven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Paycom Software has a consensus rating of “Hold” and a consensus target price 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.