SG Americas Securities LLC Trims Position in Paycom Software, Inc. (NYSE:PAYC)

SG Americas Securities LLC lowered its holdings in Paycom Software, Inc. (NYSE:PAYC) by 71.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,709 shares of the software maker’s stock after selling 4,267 shares during the quarter. SG Americas Securities LLC’s holdings in Paycom Software were worth $350,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. Armstrong Advisory Group Inc. purchased a new stake in shares of Paycom Software during the third quarter worth $26,000. Brooklyn Investment Group purchased a new position in shares of Paycom Software during the third quarter worth approximately $28,000. Pin Oak Investment Advisors Inc. increased 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 valued at $30,000 after acquiring an additional 77 shares during the period. First Horizon Advisors Inc. grew 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 valued at $35,000 after buying an additional 189 shares during the last quarter. Finally, Blue Trust Inc. boosted its holdings in 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 purchasing an additional 194 shares in the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PAYC. Citigroup reduced their price target on shares of Paycom Software from $234.00 to $221.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. TD Cowen boosted their target price on Paycom Software from $193.00 to $248.00 and gave the stock a “hold” rating in a report on Monday, December 9th. BMO Capital Markets upped their price target on Paycom Software from $183.00 to $197.00 and gave the stock a “market perform” rating in a report on Thursday, October 31st. Mizuho lifted their price target 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. Finally, Piper Sandler raised their price objective on Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Eleven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, Paycom Software has an average rating of “Hold” and an average price target of $204.75.

Paycom Software Price Performance

Shares of 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 price-to-earnings-growth ratio of 2.85 and a beta of 1.15. Paycom Software, Inc. has a fifty-two week low of $139.50 and a fifty-two week high of $242.74. The business’s fifty day moving average price is $215.83 and its two-hundred day moving average price is $189.11.

Insider Transactions at Paycom Software

In other news, CEO Chad R. Richison sold 1,950 shares of the 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 of the company’s stock, valued at $594,157,626. 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 available through this link. Insiders have sold 7,800 shares of company stock valued at $1,756,209 in the last three months. 12.60% 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.