209,267 Shares in Paycom Software, Inc. (NYSE:PAYC) Acquired by Strategic Financial Concepts LLC

Strategic Financial Concepts LLC purchased a new position in shares of Paycom Software, Inc. (NYSE:PAYC) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 209,267 shares of the software maker’s stock, valued at approximately $42,893,000. Strategic Financial Concepts LLC owned approximately 0.36% of Paycom Software as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. FMR LLC grew its stake in Paycom Software by 55.0% in the 3rd quarter. FMR LLC now owns 1,007,919 shares of the software maker’s stock worth $167,889,000 after acquiring an additional 357,723 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of Paycom Software by 9,997.5% during the third quarter. International Assets Investment Management LLC now owns 281,315 shares of the software maker’s stock worth $46,859,000 after purchasing an additional 278,529 shares during the last quarter. Confluence Investment Management LLC grew its position in shares of Paycom Software by 147.3% in the third quarter. Confluence Investment Management LLC now owns 377,876 shares of the software maker’s stock valued at $62,943,000 after purchasing an additional 225,081 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Paycom Software by 45.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 486,462 shares of the software maker’s stock valued at $81,030,000 after purchasing an additional 151,807 shares during the last quarter. Finally, Aureus Asset Management LLC lifted its position in Paycom Software by 417.8% during the third quarter. Aureus Asset Management LLC now owns 133,214 shares of the software maker’s stock worth $22,189,000 after buying an additional 107,487 shares during the period. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Insider Buying and Selling

In other news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $229.09, for a total transaction of $446,725.50. Following the sale, the chief executive officer now directly owns 2,731,410 shares of the company’s stock, valued at approximately $625,738,716.90. The trade was a 0.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 12.60% of the stock is currently owned by corporate insiders.

Paycom Software Price Performance

Shares of NYSE PAYC opened at $204.95 on Friday. Paycom Software, Inc. has a 1-year low of $139.50 and a 1-year high of $242.74. The company has a market capitalization of $11.82 billion, a price-to-earnings ratio of 24.66, a PEG ratio of 2.85 and a beta of 1.15. The business has a 50-day moving average of $214.05 and a 200-day moving average of $189.91.

Analyst Upgrades and Downgrades

Several research firms have commented on PAYC. StockNews.com upgraded Paycom Software from a “hold” rating to a “buy” rating in a report on Friday, January 31st. Piper Sandler increased 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. Mizuho lifted their price target on shares of Paycom Software from $190.00 to $210.00 and gave the company a “neutral” rating in a report on Friday, December 13th. Citigroup cut their target price on Paycom Software from $234.00 to $221.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Finally, Jefferies Financial Group boosted their price target on Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. Ten investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock presently has an average 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.