Absher Wealth Management LLC Acquires Shares of 1,958 Paycom Software, Inc. (NYSE:PAYC)

Absher Wealth Management LLC bought a new position in shares of Paycom Software, Inc. (NYSE:PAYC) in the fourth quarter, Holdings Channel reports. The institutional investor bought 1,958 shares of the software maker’s stock, valued at approximately $401,000.

Other hedge funds have also recently modified their holdings of the company. Choreo LLC lifted its position in shares of Paycom Software by 101.2% in the fourth 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 in the last quarter. Yousif Capital Management LLC boosted its stake in Paycom Software by 24.1% during the fourth quarter. Yousif Capital Management LLC now owns 7,995 shares of the software maker’s stock worth $1,639,000 after buying an additional 1,555 shares during the last quarter. E. Ohman J or Asset Management AB boosted its position in shares of Paycom Software by 42.1% during the 4th quarter. E. Ohman J or Asset Management AB now owns 2,700 shares of the software maker’s stock valued at $553,000 after acquiring an additional 800 shares during the last quarter. Trust Point Inc. purchased a new stake in shares of Paycom Software in the fourth quarter valued at about $796,000. Finally, Boston Trust Walden Corp increased its position in Paycom Software by 3.3% during the fourth quarter. Boston Trust Walden Corp now owns 359,695 shares of the software maker’s stock worth $73,727,000 after purchasing an additional 11,595 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Paycom Software Stock Performance

NYSE PAYC opened at $206.09 on Thursday. The firm has a market cap of $11.88 billion, a price-to-earnings ratio of 24.80, a PEG ratio of 2.85 and a beta of 1.15. The firm has a 50 day simple moving average of $214.62 and a 200-day simple moving average of $189.80. Paycom Software, Inc. has a one year low of $139.50 and a one year high of $242.74.

Insiders Place Their Bets

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $229.09, for a total value of $446,725.50. Following the sale, the chief executive officer now owns 2,731,410 shares of the company’s stock, 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 Securities & Exchange Commission, which is available at this link. Insiders have sold a total of 5,850 shares of company stock worth $1,333,839 in the last ninety days. 12.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Barclays dropped their price target on shares of Paycom Software from $229.00 to $221.00 and set an “equal weight” rating for the company in a research note on Thursday, January 23rd. Jefferies Financial Group raised their target price on Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. BMO Capital Markets upped their price target on Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a research note on Thursday, October 31st. StockNews.com raised Paycom Software from a “hold” rating to a “buy” rating in a research report on Friday, January 31st. Finally, Citigroup lowered their target price on shares of Paycom Software from $234.00 to $221.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Eleven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price 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.