Principal Financial Group Inc. Sells 52,839 Shares of Paycom Software, Inc. $PAYC

Principal Financial Group Inc. lowered its stake in shares of Paycom Software, Inc. (NYSE:PAYC) by 38.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 84,021 shares of the software maker’s stock after selling 52,839 shares during the quarter. Principal Financial Group Inc.’s holdings in Paycom Software were worth $17,488,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of PAYC. UMB Bank n.a. grew its position in Paycom Software by 7.6% in the 3rd quarter. UMB Bank n.a. now owns 789 shares of the software maker’s stock worth $164,000 after purchasing an additional 56 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in shares of Paycom Software by 4.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 3,588 shares of the software maker’s stock worth $746,000 after buying an additional 164 shares in the last quarter. National Pension Service purchased a new position in shares of Paycom Software in the 3rd quarter worth approximately $589,000. AlphaQuest LLC grew its holdings in shares of Paycom Software by 256.0% in the third quarter. AlphaQuest LLC now owns 3,656 shares of the software maker’s stock valued at $761,000 after acquiring an additional 2,629 shares in the last quarter. Finally, Arizona State Retirement System increased its position in shares of Paycom Software by 1.0% during the third quarter. Arizona State Retirement System now owns 15,364 shares of the software maker’s stock valued at $3,198,000 after acquiring an additional 146 shares during the last quarter. 87.77% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Paycom Software news, CFO Robert D. Foster sold 1,300 shares of the company’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $162.66, for a total transaction of $211,458.00. Following the completion of the transaction, the chief financial officer owned 14,747 shares of the company’s stock, valued at $2,398,747.02. This represents a 8.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 10.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

PAYC has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lowered their target price on Paycom Software from $235.00 to $220.00 and set a “neutral” rating on the stock in a research note on Thursday, November 6th. Zacks Research downgraded shares of Paycom Software from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 20th. Mizuho dropped their target price on shares of Paycom Software from $220.00 to $180.00 and set a “neutral” rating on the stock in a research note on Thursday, November 6th. Weiss Ratings lowered shares of Paycom Software from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, February 3rd. Finally, BMO Capital Markets reaffirmed a “market perform” rating and issued a $175.00 price target on shares of Paycom Software in a report on Friday, January 16th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $202.86.

Paycom Software Stock Down 1.1%

PAYC opened at $129.52 on Tuesday. The business’s fifty day simple moving average is $153.61 and its 200 day simple moving average is $186.59. Paycom Software, Inc. has a 52 week low of $122.61 and a 52 week high of $267.76. The stock has a market cap of $7.29 billion, a PE ratio of 16.11, a P/E/G ratio of 1.38 and a beta of 0.79.

About Paycom Software

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.