Mediolanum International Funds Ltd Sells 13,603 Shares of Paycom Software, Inc. (NYSE:PAYC)

Mediolanum International Funds Ltd reduced its stake in Paycom Software, Inc. (NYSE:PAYC) by 35.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 24,958 shares of the software maker’s stock after selling 13,603 shares during the quarter. Mediolanum International Funds Ltd’s holdings in Paycom Software were worth $5,090,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of PAYC. Armstrong Advisory Group Inc. bought a new stake in shares of Paycom Software during the 3rd quarter valued at $26,000. Brooklyn Investment Group purchased a new stake in Paycom Software in the 3rd quarter worth $28,000. Pin Oak Investment Advisors Inc. raised its holdings in Paycom Software by 73.3% during the third quarter. Pin Oak Investment Advisors Inc. now owns 182 shares of the software maker’s stock valued at $30,000 after acquiring an additional 77 shares during the period. First Horizon Advisors Inc. lifted its position 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 acquiring an additional 189 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in shares of 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 acquiring an additional 194 shares in the last quarter. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on PAYC shares. BMO Capital Markets boosted their price target on Paycom Software from $183.00 to $197.00 and gave the stock a “market perform” rating in a report on Thursday, October 31st. Barclays lowered their target price on shares of Paycom Software from $229.00 to $221.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Citigroup dropped 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 report on Thursday, January 16th. StockNews.com upgraded shares of Paycom Software from a “hold” rating to a “buy” rating in a report on Friday. Finally, Jefferies Financial Group increased their price objective on shares of Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a report on Thursday, October 31st. Eleven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Paycom Software currently has an average rating of “Hold” and a consensus target price of $204.75.

Paycom Software Price Performance

Paycom Software stock opened at $207.42 on Friday. The firm has a market capitalization of $11.96 billion, a P/E ratio of 24.96, a price-to-earnings-growth ratio of 2.83 and a beta of 1.14. Paycom Software, Inc. has a 1-year low of $139.50 and a 1-year high of $242.74. The company’s 50-day moving average is $215.83 and its 200 day moving average is $188.91.

Insider Transactions at Paycom Software

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 transaction, the chief executive officer now directly owns 2,743,110 shares in the company, valued at approximately $594,157,626. This represents a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last three months, insiders have sold 9,750 shares of company stock worth $2,169,141. 14.50% of the stock is currently owned by company 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.