Western Pacific Wealth Management LP Buys 805 Shares of Paycom Software, Inc. (NYSE:PAYC)

Western Pacific Wealth Management LP raised its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 49.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,430 shares of the software maker’s stock after buying an additional 805 shares during the quarter. Paycom Software comprises 0.4% of Western Pacific Wealth Management LP’s portfolio, making the stock its 27th biggest position. Western Pacific Wealth Management LP’s holdings in Paycom Software were worth $498,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of PAYC. Armstrong Advisory Group Inc. acquired a new position in Paycom Software in the third quarter valued at about $26,000. Brooklyn Investment Group acquired a new position in shares of Paycom Software in the 3rd quarter valued at approximately $28,000. Pin Oak Investment Advisors Inc. increased its stake in Paycom Software by 73.3% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 182 shares of the software maker’s stock worth $30,000 after purchasing an additional 77 shares in the last quarter. First Horizon Advisors Inc. raised its holdings in Paycom Software by 821.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 212 shares of the software maker’s stock worth $35,000 after buying an additional 189 shares during the period. Finally, Blue Trust Inc. lifted its stake in Paycom Software by 277.1% in the third quarter. Blue Trust Inc. now owns 264 shares of the software maker’s stock valued at $44,000 after buying an additional 194 shares in the last quarter. 87.77% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on PAYC shares. TD Cowen increased their price objective on shares of Paycom Software from $193.00 to $248.00 and gave the stock a “hold” rating in a research report on Monday, December 9th. Jefferies Financial Group lifted their price target on Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a research note on Thursday, October 31st. Citigroup reduced their price objective on Paycom Software from $234.00 to $221.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Mizuho lifted their target price on Paycom Software from $190.00 to $210.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Finally, Barclays reduced their price target on Paycom Software from $229.00 to $221.00 and set an “equal weight” rating for the company in a research report on Thursday, January 23rd. Eleven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, Paycom Software currently has an average rating of “Hold” and an average target price of $204.75.

Paycom Software Trading Up 1.1 %

NYSE PAYC opened at $207.42 on Friday. Paycom Software, Inc. has a 12 month low of $139.50 and a 12 month high of $242.74. The stock has a 50 day moving average of $215.83 and a 200-day moving average of $188.91. The company has a market cap of $11.96 billion, a PE ratio of 24.96, a PEG ratio of 2.83 and a beta of 1.14.

Insiders Place Their Bets

In other news, CEO Chad R. Richison sold 1,950 shares of the company’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 sale, the chief executive officer now directly owns 2,743,110 shares of the company’s stock, valued at approximately $594,157,626. This represents a 0.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders have sold 9,750 shares of company stock valued at $2,169,141. 14.50% of the stock is currently owned by corporate insiders.

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.