Strategic Financial Concepts LLC Makes New Investment in Paycom Software, Inc. (NYSE:PAYC)

Strategic Financial Concepts LLC bought a new stake in Paycom Software, Inc. (NYSE:PAYC) during the fourth quarter, HoldingsChannel reports. The firm bought 209,267 shares of the software maker’s stock, valued at approximately $42,893,000.

Several other large investors have also modified their holdings of the stock. Absher Wealth Management LLC acquired a new stake in Paycom Software during the fourth quarter valued at approximately $401,000. Choreo LLC increased its holdings in shares of Paycom Software by 101.2% in the 4th quarter. Choreo LLC now owns 2,937 shares of the software maker’s stock valued at $600,000 after acquiring an additional 1,477 shares during the last quarter. Yousif Capital Management LLC raised its position in shares of Paycom Software by 24.1% during the 4th quarter. Yousif Capital Management LLC now owns 7,995 shares of the software maker’s stock valued at $1,639,000 after acquiring an additional 1,555 shares in the last quarter. E. Ohman J or Asset Management AB lifted its stake in Paycom Software by 42.1% during the fourth quarter. E. Ohman J or Asset Management AB now owns 2,700 shares of the software maker’s stock worth $553,000 after purchasing an additional 800 shares during the last quarter. Finally, Trust Point Inc. acquired a new position in Paycom Software in the fourth quarter worth $796,000. Institutional investors own 87.77% of the company’s stock.

Paycom Software Trading Down 0.6 %

Shares of Paycom Software stock opened at $204.95 on Friday. Paycom Software, Inc. has a 52 week low of $139.50 and a 52 week high of $242.74. The company’s 50-day moving average price is $214.05 and its two-hundred day moving average price is $189.91. The stock has a market cap of $11.82 billion, a PE ratio of 24.66, a price-to-earnings-growth ratio of 2.85 and a beta of 1.15.

Insider Buying and Selling

In related news, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $229.09, for a total value of $446,725.50. Following the completion of the transaction, the chief executive officer now owns 2,731,410 shares in the company, valued at $625,738,716.90. This trade represents a 0.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 12.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on PAYC shares. StockNews.com upgraded shares of Paycom Software from a “hold” rating to a “buy” rating in a research note on Friday, January 31st. TD Cowen increased their price target on Paycom Software from $193.00 to $248.00 and gave the stock a “hold” rating in a research report on Monday, December 9th. Piper Sandler boosted their price objective on Paycom Software from $160.00 to $191.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Barclays dropped their target price on Paycom Software from $229.00 to $221.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 23rd. Finally, 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 note on Thursday, January 16th. Ten equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Paycom Software currently has a consensus rating of “Hold” and an average 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.