Paycom Software (NYSE:PAYC) Upgraded to Buy at StockNews.com

Paycom Software (NYSE:PAYC) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Monday.

Other equities research analysts have also recently issued reports about the company. BMO Capital Markets lifted their price objective on Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a research note on Thursday, October 31st. TD Cowen boosted their price target on shares of Paycom Software from $193.00 to $248.00 and gave the stock a “hold” rating in a research note on Monday, December 9th. Jefferies Financial Group raised their price objective on shares of Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a research note on Thursday, October 31st. Citigroup increased their price objective on Paycom Software from $172.00 to $196.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, Mizuho upped their price target on Paycom Software from $190.00 to $210.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Eleven research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Paycom Software currently has an average rating of “Hold” and an average price target of $202.56.

Paycom Software Stock Performance

NYSE:PAYC opened at $232.85 on Monday. Paycom Software has a fifty-two week low of $139.50 and a fifty-two week high of $242.74. The company has a 50 day moving average price of $206.83 and a 200 day moving average price of $174.23. The stock has a market capitalization of $13.43 billion, a P/E ratio of 27.93, a PEG ratio of 3.12 and a beta of 1.11.

Insider Activity

In related news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $162.17, for a total value of $316,231.50. Following the completion of the sale, the chief executive officer now owns 2,780,160 shares in the company, valued at $450,858,547.20. This trade represents a 0.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last quarter, insiders sold 44,850 shares of company stock worth $8,107,983. Corporate insiders own 14.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Private Trust Co. NA increased its position in Paycom Software by 11.2% during the 3rd quarter. Private Trust Co. NA now owns 526 shares of the software maker’s stock worth $88,000 after purchasing an additional 53 shares in the last quarter. Wrapmanager Inc. raised its position in shares of Paycom Software by 2.6% in the third quarter. Wrapmanager Inc. now owns 2,176 shares of the software maker’s stock valued at $362,000 after buying an additional 56 shares during the last quarter. Andina Capital Management LLC lifted its stake in shares of Paycom Software by 4.0% during the third quarter. Andina Capital Management LLC now owns 1,651 shares of the software maker’s stock valued at $275,000 after buying an additional 63 shares during the period. Davis Investment Partners LLC grew its stake in Paycom Software by 1.0% in the 3rd quarter. Davis Investment Partners LLC now owns 6,397 shares of the software maker’s stock worth $1,067,000 after acquiring an additional 64 shares during the period. Finally, GAMMA Investing LLC raised its holdings in Paycom Software by 26.7% in the 3rd quarter. GAMMA Investing LLC now owns 323 shares of the software maker’s stock valued at $54,000 after acquiring an additional 68 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

About Paycom Software

Paycom Software, Inc provides 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.