Goldman Sachs Group Inc. Reduces Stock Holdings in Paycom Software, Inc. (NYSE:PAYC)

Goldman Sachs Group Inc. trimmed its position in Paycom Software, Inc. (NYSE:PAYCGet Rating) by 17.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 593,932 shares of the software maker’s stock after selling 123,630 shares during the period. Goldman Sachs Group Inc.’s holdings in Paycom Software were worth $246,594,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in PAYC. Corient Capital Partners LLC raised its stake in shares of Paycom Software by 3.9% in the third quarter. Corient Capital Partners LLC now owns 579 shares of the software maker’s stock worth $287,000 after buying an additional 22 shares during the period. HM Payson & Co. raised its stake in shares of Paycom Software by 7.3% in the third quarter. HM Payson & Co. now owns 340 shares of the software maker’s stock worth $169,000 after buying an additional 23 shares during the period. IFP Advisors Inc raised its stake in shares of Paycom Software by 17.4% in the fourth quarter. IFP Advisors Inc now owns 196 shares of the software maker’s stock worth $81,000 after buying an additional 29 shares during the period. Quadrant Capital Group LLC raised its stake in shares of Paycom Software by 54.8% in the fourth quarter. Quadrant Capital Group LLC now owns 96 shares of the software maker’s stock worth $40,000 after buying an additional 34 shares during the period. Finally, Gradient Investments LLC raised its stake in Paycom Software by 37.6% during the 4th quarter. Gradient Investments LLC now owns 128 shares of the software maker’s stock valued at $53,000 after purchasing an additional 35 shares during the period. 87.12% of the stock is currently owned by institutional investors and hedge funds.

In related news, EVP Justin Devon Long sold 151 shares of the business’s stock in a transaction on Wednesday, May 11th. The stock was sold at an average price of $275.23, for a total transaction of $41,559.73. Following the completion of the transaction, the executive vice president now owns 2,956 shares in the company, valued at approximately $813,579.88. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Chad R. Richison sold 9,611 shares of the business’s stock in a transaction on Wednesday, May 11th. The shares were sold at an average price of $275.24, for a total value of $2,645,331.64. Following the transaction, the chief executive officer now owns 4,727,444 shares of the company’s stock, valued at approximately $1,301,181,686.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,290 shares of company stock valued at $3,934,164. Company insiders own 15.20% of the company’s stock.

Shares of Paycom Software stock traded up $13.57 on Friday, reaching $288.56. The company had a trading volume of 432,137 shares, compared to its average volume of 539,363. The firm has a market cap of $17.39 billion, a price-to-earnings ratio of 75.15, a P/E/G ratio of 2.48 and a beta of 1.54. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.08 and a quick ratio of 1.08. The firm’s 50-day moving average price is $317.81 and its two-hundred day moving average price is $369.63. Paycom Software, Inc. has a 1 year low of $259.95 and a 1 year high of $558.97.

Paycom Software (NYSE:PAYCGet Rating) last announced its earnings results on Tuesday, May 3rd. The software maker reported $1.90 EPS for the quarter, topping analysts’ consensus estimates of $1.75 by $0.15. The firm had revenue of $353.52 million during the quarter, compared to analysts’ expectations of $343.20 million. Paycom Software had a return on equity of 25.12% and a net margin of 19.64%. The company’s quarterly revenue was up 29.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.10 EPS. As a group, analysts anticipate that Paycom Software, Inc. will post 4.3 EPS for the current year.

Several analysts recently issued reports on the company. Mizuho lifted their target price on Paycom Software from $325.00 to $350.00 and gave the company a “neutral” rating in a research note on Wednesday, February 9th. Needham & Company LLC decreased their target price on Paycom Software from $640.00 to $450.00 and set a “buy” rating on the stock in a research note on Wednesday, February 9th. KeyCorp decreased their target price on Paycom Software from $575.00 to $400.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 25th. Piper Sandler decreased their target price on Paycom Software from $505.00 to $430.00 in a research note on Wednesday, May 4th. Finally, StockNews.com started coverage on Paycom Software in a research note on Thursday, March 31st. They set a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $396.29.

Paycom Software Profile (Get Rating)

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.

Featured Stories

Want to see what other hedge funds are holding PAYC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Paycom Software, Inc. (NYSE:PAYCGet Rating).

Institutional Ownership by Quarter for Paycom Software (NYSE:PAYC)

Receive News & Ratings for Paycom Software Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paycom Software and related companies with MarketBeat.com's FREE daily email newsletter.