Paycom Software, Inc. (NYSE:PAYC) Shares Sold by Mount Yale Investment Advisors LLC

Mount Yale Investment Advisors LLC trimmed its position in shares of Paycom Software, Inc. (NYSE:PAYC) by 72.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 1,903 shares of the software maker’s stock after selling 5,095 shares during the period. Mount Yale Investment Advisors LLC’s holdings in Paycom Software were worth $390,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. KBC Group NV increased its holdings in Paycom Software by 71.1% during the 4th quarter. KBC Group NV now owns 32,052 shares of the software maker’s stock worth $6,570,000 after purchasing an additional 13,319 shares during the last quarter. Blue Trust Inc. grew its holdings in Paycom Software by 33.3% during the 4th quarter. Blue Trust Inc. now owns 352 shares of the software maker’s stock worth $72,000 after acquiring an additional 88 shares in the last quarter. Jacksonville Wealth Management LLC bought a new stake in shares of Paycom Software in the 4th quarter worth about $394,000. Fifth Third Bancorp raised its stake in shares of Paycom Software by 7.4% in the 4th quarter. Fifth Third Bancorp now owns 2,401 shares of the software maker’s stock valued at $492,000 after purchasing an additional 165 shares in the last quarter. Finally, Brighton Jones LLC bought a new position in shares of Paycom Software during the fourth quarter worth about $638,000. Hedge funds and other institutional investors own 87.77% of the company’s stock.

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 Monday, November 4th. The shares were sold at an average price of $211.76, for a total value of $412,932.00. Following the sale, the chief executive officer now owns 2,745,060 shares in the company, valued at approximately $581,293,905.60. This trade represents a 0.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 11,700 shares of company stock worth $2,577,900 in the last ninety days. 14.50% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Jefferies Financial Group boosted their price objective on Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a report on Thursday, October 31st. Mizuho boosted their price target on Paycom Software from $190.00 to $210.00 and gave the company a “neutral” rating in a report on Friday, December 13th. 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. StockNews.com downgraded shares of Paycom Software from a “buy” rating to a “hold” rating in a report on Wednesday, January 15th. Finally, Citigroup dropped their target price on shares of Paycom Software from $234.00 to $221.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Twelve analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $204.75.

Paycom Software Stock Performance

Shares of PAYC opened at $213.58 on Wednesday. Paycom Software, Inc. has a 1 year low of $139.50 and a 1 year high of $242.74. The firm has a fifty day moving average of $216.98 and a 200-day moving average of $188.11. The company has a market cap of $12.31 billion, a price-to-earnings ratio of 25.70, a price-to-earnings-growth ratio of 2.85 and a beta of 1.14.

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.