Paycom Software, Inc. (NYSE:PAYC) Shares Sold by Alliance Wealth Advisors LLC UT

Alliance Wealth Advisors LLC UT reduced its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 7.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,652 shares of the software maker’s stock after selling 624 shares during the period. Alliance Wealth Advisors LLC UT’s holdings in Paycom Software were worth $1,568,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. The Manufacturers Life Insurance Company grew its holdings in Paycom Software by 2.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 39,571 shares of the software maker’s stock valued at $5,660,000 after buying an additional 879 shares in the last quarter. Creative Planning grew its holdings in shares of Paycom Software by 13.2% in the second quarter. Creative Planning now owns 5,951 shares of the software maker’s stock valued at $851,000 after purchasing an additional 692 shares during the period. Cetera Investment Advisers increased its position in Paycom Software by 49.0% during the second quarter. Cetera Investment Advisers now owns 26,878 shares of the software maker’s stock worth $3,845,000 after purchasing an additional 8,836 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in Paycom Software in the 2nd quarter valued at about $856,000. Finally, Czech National Bank grew its stake in shares of Paycom Software by 8.2% in the 3rd quarter. Czech National Bank now owns 9,913 shares of the software maker’s stock valued at $1,651,000 after buying an additional 752 shares during the period. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on PAYC shares. Barclays lowered their price objective 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. Citigroup cut 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. StockNews.com raised shares of Paycom Software from a “hold” rating to a “buy” rating in a research report on Friday. BMO Capital Markets lifted their price target on shares of Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a research report on Thursday, October 31st. Finally, Mizuho upped their price objective on shares of Paycom Software from $190.00 to $210.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Eleven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, Paycom Software currently has a consensus rating of “Hold” and an average price target of $204.75.

Paycom Software Stock Performance

Shares of PAYC opened at $205.20 on Tuesday. The stock has a 50-day simple moving average of $215.83 and a 200-day simple moving average of $189.11. Paycom Software, Inc. has a 1 year low of $139.50 and a 1 year high of $242.74. The stock has a market capitalization of $11.83 billion, a PE ratio of 24.69, a PEG ratio of 2.85 and a beta of 1.15.

Insider Buying and Selling

In related news, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $216.60, for a total transaction of $422,370.00. Following the completion of the sale, the chief executive officer now 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 7,800 shares of company stock worth $1,756,209 over the last 90 days. 12.60% of the stock is owned by 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.