Paycom Software, Inc. (NYSE:PAYC) Shares Bought by KBC Group NV

KBC Group NV raised its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 71.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 32,052 shares of the software maker’s stock after purchasing an additional 13,319 shares during the period. KBC Group NV’s holdings in Paycom Software were worth $6,570,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Armstrong Advisory Group Inc. purchased a new position in shares of Paycom Software during the 3rd quarter worth approximately $26,000. Brooklyn Investment Group acquired a new position in Paycom Software during the third quarter worth $28,000. Pin Oak Investment Advisors Inc. boosted its position in shares of Paycom Software by 73.3% during the third quarter. Pin Oak Investment Advisors Inc. now owns 182 shares of the software maker’s stock worth $30,000 after buying an additional 77 shares during the period. First Horizon Advisors Inc. grew its stake in shares of Paycom Software by 821.7% in the third 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 in the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of Paycom Software by 277.1% in 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. 87.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PAYC has been the subject of a number of research analyst reports. StockNews.com cut Paycom Software from a “buy” rating to a “hold” rating in a report on Wednesday, January 15th. Citigroup dropped their price objective 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. Mizuho upped their target price on shares of Paycom Software from $190.00 to $210.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. Piper Sandler raised their price target on shares of Paycom Software from $160.00 to $191.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Finally, Jefferies Financial Group lifted their price objective on Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a research note on Thursday, October 31st. Twelve investment analysts have rated the stock with a hold rating, According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $204.75.

Paycom Software Stock Performance

Shares of NYSE PAYC opened at $205.36 on Friday. The stock’s 50-day simple moving average is $216.72 and its 200-day simple moving average is $188.24. The firm has a market capitalization of $11.84 billion, a PE ratio of 24.71, a price-to-earnings-growth ratio of 2.85 and a beta of 1.14. Paycom Software, Inc. has a fifty-two week low of $139.50 and a fifty-two week high of $242.74.

Insiders Place Their Bets

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $216.60, for a total transaction of $422,370.00. Following the transaction, the chief executive officer now owns 2,743,110 shares of the company’s stock, valued at approximately $594,157,626. This trade represents a 0.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last quarter, insiders have sold 9,750 shares of company stock valued at $2,169,141. 14.50% of the stock is owned by corporate insiders.

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.