Forex
RBC Cuts Stake in Paycom Software by Nearly Two-Thirds
Royal Bank of Canada reduced its stake in Paycom Software by 64.6% during the first quarter, according to its latest 13F filing with the Securities and Exchange Commission.
The institutional investor owned 57,053 shares after selling 104,059 shares during the quarter, valuing its position at $6.9 million or about 0.12% of Paycom's market value.
Other hedge funds have also adjusted their holdings in the company, with State Street Corp increasing its stake by 0.4%, First Trust Advisors LP raising its holding by 19.9%, and Invesco Ltd. boosting its position by 28.2% during the fourth quarter.