Goldman Sachs Group Inc. Has $271.57 Million Holdings in Paycom Software, Inc. (NYSE:PAYC)

Goldman Sachs Group Inc.  Has $271.57 Million Holdings in Paycom Software, Inc.  (NYSE:PAYC)

Paycom Software logoGoldman Sachs Group Inc. lifted its stake in shares of Paycom Software, Inc. (NYSE:PAYC – Get Rating) by 10.4% during the second quarter, Holdings Channel.com reports. The firm owned 969,474 shares of the software maker’s stock after buying an additional 91,650 shares during the period. Goldman Sachs Group Inc.’s holdings in Paycom Software were worth $271,570,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. BlackRock Inc. raised its holdings in Paycom Software by 11.5% during the 1st quarter. BlackRock Inc. now owns 5,967,962 shares of the software maker’s stock worth $2,067,181,000 after purchasing an additional 615,839 shares during the last quarter. Allianz Asset Management GmbH lifted its holdings in Paycom Software by 297.5% in the second quarter. Allianz Asset Management GmbH now owns 578,175 shares of the software maker’s stock valued at $161,958,000 after buying an additional 432,727 shares during the period. FMR LLC boosted its stake in Paycom Software by 130.8% in the second quarter. FMR LLC now owns 700,963 shares of the software maker’s stock valued at $196,353,000 after acquiring an additional 397,296 shares during the last quarter. Alyeska Investment Group LP boosted its stake in Paycom Software by 156.4% in the first quarter. Alyeska Investment Group LP now owns 456,317 shares of the software maker’s stock valued at $158,059,000 after acquiring an additional 278,342 shares during the last quarter. Finally, Eagle Asset Management Inc. acquired a new stake in Paycom Software during the 1st quarter worth $91,207,000. 74.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on PAYC. Cowen raised their price target on Paycom Software from $365.00 to $381.00 in a research report on Wednesday, November 2nd. Barclays boosted their target price on Paycom Software from $339.00 to $343.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 18th. Piper Sandler increased their price target on shares of Paycom Software from $387.00 to $395.00 and gave the company an “overweight” rating in a research report on Wednesday, November 2nd. Cowen boosted their price objective on shares of Paycom Software from $365.00 to $381.00 in a report on Wednesday, November 2nd. Finally, Credit Suisse Group increased their target price on shares of Paycom Software from $425.00 to $430.00 and gave the stock an “outperform” rating in a report on Wednesday, November 2nd. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $390.13.

Paycom Software Stock Performance

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PAYC opened at $327.72 on Thursday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.17 and a quick ratio of 1.17. The company has a market capitalization of $19.67 billion, a price-to-earnings ratio of 76.04, a P/E/G ratio of 2.69 and a beta of 1.37. The business’s 50-day moving average price is $324.64 and its two-hundred day moving average price is $327.37. Paycom Software, Inc. has a 1 year low of $255.82 and a 1 year high of $429.93.

Paycom Software Company Profile

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Paycom Software, Inc provides a 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.

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

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