Envestnet Asset Management Inc. Has $62.76 Million Stock Position in Paycom Software, Inc. $PAYC

Envestnet Asset Management Inc. lessened its holdings in Paycom Software, Inc. (NYSE:PAYC) by 4.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 301,539 shares of the software maker’s stock after selling 14,575 shares during the period. Envestnet Asset Management Inc. owned 0.52% of Paycom Software worth $62,762,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of PAYC. Allianz Asset Management GmbH boosted its stake in shares of Paycom Software by 10,106.6% during the 3rd quarter. Allianz Asset Management GmbH now owns 486,957 shares of the software maker’s stock worth $101,355,000 after acquiring an additional 482,186 shares in the last quarter. Peterson Wealth Services lifted its holdings in Paycom Software by 8.6% in the 3rd quarter. Peterson Wealth Services now owns 3,904 shares of the software maker’s stock worth $755,000 after purchasing an additional 310 shares during the last quarter. Jones Financial Companies Lllp boosted its position in Paycom Software by 28.6% during the third quarter. Jones Financial Companies Lllp now owns 5,259 shares of the software maker’s stock worth $1,144,000 after purchasing an additional 1,171 shares during the period. UMB Bank n.a. grew its holdings in Paycom Software by 7.6% during the third quarter. UMB Bank n.a. now owns 789 shares of the software maker’s stock valued at $164,000 after purchasing an additional 56 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its position in shares of Paycom Software by 4.8% in the third quarter. Thrivent Financial for Lutherans now owns 3,588 shares of the software maker’s stock valued at $746,000 after purchasing an additional 164 shares during the period. 87.77% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Paycom Software news, CFO Robert D. Foster sold 1,300 shares of the business’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $162.66, for a total value of $211,458.00. Following the sale, the chief financial officer owned 14,747 shares of the company’s stock, valued at $2,398,747.02. The trade was a 8.10% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 10.90% of the stock is owned by corporate insiders.

Paycom Software Stock Down 0.5%

Paycom Software stock opened at $130.91 on Monday. The business has a 50 day moving average price of $154.25 and a two-hundred day moving average price of $187.35. Paycom Software, Inc. has a 12 month low of $122.61 and a 12 month high of $267.76. The stock has a market cap of $7.37 billion, a price-to-earnings ratio of 16.28, a price-to-earnings-growth ratio of 1.38 and a beta of 0.79.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on PAYC shares. Zacks Research downgraded shares of Paycom Software from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 20th. BTIG Research began coverage on shares of Paycom Software in a report on Wednesday, December 17th. They set a “buy” rating and a $195.00 price target for the company. Jefferies Financial Group lowered their price target on Paycom Software from $225.00 to $190.00 and set a “hold” rating on the stock in a research report on Thursday, November 6th. Mizuho cut their price objective on Paycom Software from $220.00 to $180.00 and set a “neutral” rating for the company in a research report on Thursday, November 6th. Finally, JPMorgan Chase & Co. decreased their target price on Paycom Software from $235.00 to $220.00 and set a “neutral” rating for the company in a research note on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Paycom Software currently has a consensus rating of “Hold” and a consensus target price of $202.86.

Paycom Software Company Profile

Paycom Software, Inc (NYSE: PAYC) is a cloud-based human capital management (HCM) software provider that delivers an end-to-end solution for human resources, payroll, talent acquisition, time and labor management, and talent management. Its single-database platform enables organizations to process payroll, track time, administer benefits, and manage recruiting and employee development through a unified system. Paycom’s software is designed to streamline administrative tasks, improve data accuracy, and provide real-time reporting and analytics to support strategic HR decisions.

The company’s core offerings include payroll processing with built-in tax compliance, employee self-service functionality, automated time tracking, and customizable talent acquisition tools that allow employers to create and post job requisitions, screen candidates, and conduct onboarding electronically.