Forsta AP Fonden Purchases Shares of 11,200 Paycom Software, Inc. (NYSE:PAYC)

Forsta AP Fonden acquired a new position in Paycom Software, Inc. (NYSE:PAYC) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 11,200 shares of the software maker’s stock, valued at approximately $2,296,000.

Several other large investors have also modified their holdings of the company. Sylebra Capital LLC raised its holdings in Paycom Software by 0.3% in the 3rd quarter. Sylebra Capital LLC now owns 1,962,468 shares of the software maker’s stock worth $326,888,000 after acquiring an additional 5,000 shares during the period. Geode Capital Management LLC grew its position in shares of Paycom Software by 3.3% in the third quarter. Geode Capital Management LLC now owns 1,426,920 shares of the software maker’s stock valued at $237,015,000 after purchasing an additional 45,404 shares during the last quarter. FMR LLC increased its stake in shares of Paycom Software by 55.0% in the third quarter. FMR LLC now owns 1,007,919 shares of the software maker’s stock worth $167,889,000 after purchasing an additional 357,723 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of Paycom Software by 1.0% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 627,510 shares of the software maker’s stock worth $104,524,000 after purchasing an additional 6,488 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Paycom Software by 45.4% during the 3rd 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 period. 87.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PAYC has been the subject of a number of research analyst reports. StockNews.com upgraded Paycom Software from a “hold” rating to a “buy” rating in a report on Friday. Jefferies Financial Group upped their target price on shares of Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a research note on Thursday, October 31st. Citigroup decreased their price target on shares of Paycom Software from $234.00 to $221.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. TD Cowen upped their price objective on shares of Paycom Software from $193.00 to $248.00 and gave the company a “hold” rating in a research report on Monday, December 9th. Finally, BMO Capital Markets lifted their target price on Paycom Software from $183.00 to $197.00 and gave the stock a “market perform” rating in a research report on Thursday, October 31st. Eleven analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $204.75.

Paycom Software Stock Up 1.1 %

Shares of PAYC opened at $207.42 on Friday. The company has a 50-day moving average price of $215.83 and a two-hundred day moving average price of $188.91. The stock has a market cap of $11.96 billion, a price-to-earnings ratio of 24.96, a P/E/G ratio of 2.83 and a beta of 1.14. Paycom Software, Inc. has a 12 month low of $139.50 and a 12 month high of $242.74.

Insider Activity at Paycom Software

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $216.60, for a total value of $422,370.00. Following the transaction, the chief executive officer now directly owns 2,743,110 shares in the company, valued at $594,157,626. The trade was a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 9,750 shares of company stock valued at $2,169,141 in the last 90 days. 14.50% of the stock is owned by corporate insiders.

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.