Fifth Third Bancorp Acquires 165 Shares of Paycom Software, Inc. (NYSE:PAYC)

Fifth Third Bancorp raised its holdings in Paycom Software, Inc. (NYSE:PAYC) by 7.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,401 shares of the software maker’s stock after buying an additional 165 shares during the period. Fifth Third Bancorp’s holdings in Paycom Software were worth $492,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Public Sector Pension Investment Board acquired a new position in Paycom Software during the 2nd quarter valued at about $203,000. Marshall Wace LLP purchased a new position in shares of Paycom Software during the second quarter valued at approximately $1,867,000. The Manufacturers Life Insurance Company boosted its position in shares of Paycom Software by 2.3% during the second 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 during the last quarter. Creative Planning grew its holdings in Paycom Software by 13.2% during the second quarter. Creative Planning now owns 5,951 shares of the software maker’s stock worth $851,000 after buying an additional 692 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in Paycom Software by 3.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 14,962 shares of the software maker’s stock valued at $2,140,000 after acquiring an additional 489 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Paycom Software Stock Performance

PAYC stock opened at $205.36 on Friday. The stock has a fifty day moving average of $216.72 and a 200-day moving average of $188.24. Paycom Software, Inc. has a fifty-two week low of $139.50 and a fifty-two week high of $242.74. The company has a market capitalization of $11.84 billion, a price-to-earnings ratio of 24.71, a PEG ratio of 2.85 and a beta of 1.14.

Insiders Place Their Bets

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $211.76, for a total transaction of $412,932.00. Following the sale, the chief executive officer now owns 2,745,060 shares in the company, valued at $581,293,905.60. This represents a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold 9,750 shares of company stock worth $2,169,141 over the last quarter. 14.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on PAYC. BMO Capital Markets upped their target price on shares of Paycom Software from $183.00 to $197.00 and gave the stock a “market perform” rating in a research note on Thursday, October 31st. Barclays decreased their price objective on shares of Paycom Software from $229.00 to $221.00 and set an “equal weight” rating for the company in a research note on Thursday, January 23rd. TD Cowen upped their target price on Paycom Software from $193.00 to $248.00 and gave the company a “hold” rating in a report on Monday, December 9th. Mizuho lifted their price target on Paycom Software from $190.00 to $210.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Finally, Piper Sandler upped their price objective on Paycom Software from $160.00 to $191.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Twelve investment analysts have rated the stock with a hold rating, According to data from MarketBeat, Paycom Software has a consensus rating of “Hold” and an average price target of $204.75.

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.