Spectrum Asset Management Inc. NB CA Invests $898,000 in Paycom Software, Inc. (NYSE:PAYC)

Spectrum Asset Management Inc. NB CA bought a new stake in shares of Paycom Software, Inc. (NYSE:PAYC) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 4,381 shares of the software maker’s stock, valued at approximately $898,000.

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

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PAYC. StockNews.com raised Paycom Software from a “hold” rating to a “buy” rating in a research report on Friday, January 31st. TD Cowen boosted their price objective on Paycom Software from $193.00 to $248.00 and gave the stock a “hold” rating in a report on Monday, December 9th. Jefferies Financial Group raised their target price on shares of Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. Mizuho boosted their price target on shares of Paycom Software from $190.00 to $210.00 and gave the company a “neutral” rating in a report on Friday, December 13th. Finally, Piper Sandler raised their price objective on shares of Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Ten analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $204.75.

Paycom Software Stock Performance

Paycom Software stock opened at $204.95 on Friday. Paycom Software, Inc. has a twelve month low of $139.50 and a twelve month high of $242.74. The firm has a market cap of $11.82 billion, a PE ratio of 24.66, a P/E/G ratio of 2.85 and a beta of 1.15. The firm’s 50 day moving average price is $214.05 and its two-hundred day moving average price is $189.91.

Insider Activity

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $229.09, for a total value of $446,725.50. Following the completion of the sale, the chief executive officer now directly owns 2,731,410 shares in the company, valued at $625,738,716.90. The trade was a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 12.60% of the stock is currently owned by corporate insiders.

Paycom Software 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.