Moody Lynn & Lieberson LLC Sells Off 14.4% of Holding in Cloud-Based Solutions Provider Paycom Software Inc.
Summary
Paycom Software prides themselves on their ability to provide comprehensive workforce management options from talent acquisition through retirement using Software-as-a-Service delivery model. There have also been reports that director Jason D Clark exercised a sell-off option for his own holdings during March when he sold off approximately $300,000 worth of PAYC stocks in the single transaction. It is also noted that roughly 14.50% (company insiders) hold paid stakes within Paycom Software while investors are suggested to continue monitoring such activities during this time-period as more data surfaces across examining key institutional players’ changing assets at hand over quarterly filings or SEC documents updates related to stock transactions. Despite this flurry of activity from institutional investors, Deutsche Bank Aktiengesellschaft lowered their target price for Paycom Software from $425 down to $400 and reaffirmed their “buy” rating on the stock earlier this year. With these positive results and enthusiastic support from institutions like DA Davidson, who recently raised their rating on Paycom stock from neutral to buy, it looks as though the HCM provider has plenty to smile about in the coming months—and investors will be interested to see how this success translates into value over time.