Forsta AP Fonden Invests $2.30 Million in Paycom Software, Inc. (NYSE:PAYC)

Forsta AP Fonden purchased a new stake in Paycom Software, Inc. (NYSE:PAYC) in the fourth quarter, Holdings Channel.com reports. The firm purchased 11,200 shares of the software maker’s stock, valued at approximately $2,296,000.

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

Paycom Software Stock Performance

PAYC opened at $207.42 on Friday. The firm’s fifty day moving average is $215.83 and its two-hundred day moving average is $188.91. The firm has a market cap of $11.96 billion, a PE ratio of 24.96, a price-to-earnings-growth ratio of 2.83 and a beta of 1.14. Paycom Software, Inc. has a twelve month low of $139.50 and a twelve month high of $242.74.

Insider Activity at Paycom Software

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $216.60, for a total transaction of $422,370.00. Following the sale, the chief executive officer now directly owns 2,743,110 shares in the company, valued at approximately $594,157,626. This trade represents a 0.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders sold a total of 9,750 shares of company stock worth $2,169,141 in the last quarter. Corporate insiders own 14.50% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. StockNews.com upgraded Paycom Software from a “hold” rating to a “buy” rating in a research report on Friday. Mizuho boosted their price objective on Paycom Software from $190.00 to $210.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Barclays reduced their target price on shares of Paycom Software from $229.00 to $221.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. Jefferies Financial Group boosted their price target on shares of Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. Finally, Citigroup reduced their price objective on shares of Paycom Software from $234.00 to $221.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Eleven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $204.75.

Paycom Software Company 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.