Optas LLC Reduces Stock Holdings in Paycom Software, Inc. (NYSE:PAYC)

Optas LLC lessened its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 11.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,048 shares of the software maker’s stock after selling 681 shares during the quarter. Optas LLC’s holdings in Paycom Software were worth $1,035,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Sylebra Capital LLC boosted its stake in Paycom Software by 0.3% in the third quarter. Sylebra Capital LLC now owns 1,962,468 shares of the software maker’s stock valued at $326,888,000 after acquiring an additional 5,000 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Paycom Software by 3.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,426,920 shares of the software maker’s stock valued at $237,015,000 after purchasing an additional 45,404 shares during the last quarter. FMR LLC boosted its position in shares of Paycom Software by 55.0% in the 3rd quarter. FMR LLC now owns 1,007,919 shares of the software maker’s stock valued at $167,889,000 after purchasing an additional 357,723 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in Paycom Software by 1.0% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 627,510 shares of the software maker’s stock worth $104,524,000 after buying an additional 6,488 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Paycom Software by 45.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 486,462 shares of the software maker’s stock worth $81,030,000 after buying an additional 151,807 shares during the period. Institutional investors and hedge funds own 87.77% of the company’s stock.

Paycom Software Stock Performance

NYSE:PAYC opened at $205.20 on Tuesday. The stock has a market capitalization of $11.83 billion, a price-to-earnings ratio of 24.69, a PEG ratio of 2.85 and a beta of 1.15. Paycom Software, Inc. has a 1 year low of $139.50 and a 1 year high of $242.74. The stock has a fifty day moving average price of $215.83 and a two-hundred day moving average price of $189.11.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PAYC. Piper Sandler raised their target price on shares of Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. BMO Capital Markets upped their target price 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. Citigroup lowered their price target on Paycom Software from $234.00 to $221.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. 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 note on Thursday, October 31st. Finally, Mizuho lifted their target price on Paycom Software from $190.00 to $210.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Eleven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, Paycom Software has a consensus rating of “Hold” and a consensus price target of $204.75.

Insider Activity at Paycom Software

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $226.55, for a total value of $441,772.50. Following the sale, the chief executive officer now owns 2,737,260 shares of the company’s stock, valued at approximately $620,126,253. This represents a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 7,800 shares of company stock worth $1,756,209 over the last 90 days. Company insiders own 12.60% of the company’s stock.

About Paycom Software

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.