Paycom Software (NYSE:PAYC – Get a Free Report) was upgraded from a “hold” rating to a “buy” rating by stock research analysts at StockNews.com in a note issued to investors on Monday.
Several other analysts have also recently issued reports on the company. TD Cowen lifted their price objective on Paycom Software from $193.00 to $248.00 and gave the stock a “hold” rating in a report on Monday, December 9. Jefferies Financial Group raised their target price on shares of Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. Piper Sandler raised their target price on Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a report on Thursday, October 31. BMO Capital Markets raised their price objective on Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a research report on Thursday, October 31st. Finally, Mizuho raised their price target on shares of Paycom Software from $190.00 to $210.00 and gave the company a “neutral” rating in a report on Friday, December 13. Eleven investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Paycom Software currently has an average rating of “Hold” and a consensus price target of $202.56.
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Paycom Software Stock Performance
PAYC stock opened at $232.85 on Monday. The company has a market cap of $13.43 billion, a price-to-earnings ratio of 27.93, a price-to-earnings growth ratio of 3.12, and a beta of 1.11. Paycom Software has a one-year low of $139.50 and a one-year high of $242.74. The company’s fifty-day moving average price is $206.83 and its 200-day moving average price is $174.23.
Insider activity
In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction on Monday, September 23. The shares sold at an average price of $171.30, for a total value of $334,035.00. Following the transaction, the CEO now owns 2,805,060 shares in the company, valued at approximately $480,506,778. This trade represents a 0.07% decline in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold 44,850 shares of the company worth $8,107,983 in the last three months. 14.50% of the shares are currently owned by business insiders.
Institutional investors weigh in on Paycom software
Hedge funds have recently changed their positions in the company. Sylebra Capital LLC grew its stake in Paycom Software by 53.9% in the second quarter. Sylebra Capital LLC now owns 1,957,468 shares of the software maker’s stock worth $279,996,000 after purchasing an additional 685,190 shares in the last quarter. Federated Hermes Inc. increased its stake in Paycom Software shares by 1,011.2% in the second quarter. Federated Hermes Inc. now owns 581,964 shares of the software maker’s stock worth $83,244,000 after purchasing an additional 529,591 shares during the period. FMR LLC increased its holdings in Paycom Software by 55.0% during the third quarter. FMR LLC now owns 1,007,919 shares of the software maker’s stock worth $167,889,000 after purchasing an additional 357,723 shares during the period. International Assets Investment Management LLC grew its holdings in shares of Paycom Software by 9,997.5% during the 3rd quarter. International Assets Investment Management LLC now owns 281,315 shares of the software maker’s stock worth $46,859,000 after purchasing an additional 278,529 shares in the last quarter. Finally, Confluence Investment Management LLC increased its position in shares of Paycom Software by 147.3% during the third quarter. Confluence Investment Management LLC now owns 377,876 shares of the software maker’s stock worth $62,943,000 after purchasing an additional 225,081 shares during the period. 87.77% of the shares are currently held by institutional investors and hedge funds.
About Paycom software
(Get a free report)
Paycom Software, Inc offers a cloud-based human capital management (HCM) solution delivered as software-as-a-service for small to mid-sized businesses in the United States. It provides functionality and data analytics that companies need to manage the employment lifecycle, from hiring to retirement.
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