Paycom Software (NYSE:PAYC)‘s stock had its “neutral” rating reissued by equities research analysts at Bank of America in a research note issued on Wednesday, Briefing.com Automated Import reports. They currently have a $250.00 price target on the software maker’s stock, up from their previous price target of $215.00. Bank of America‘s target price would indicate a potential upside of 6.02% from the company’s previous close.
Other research analysts also recently issued research reports about the company. Barclays upped their price objective on Paycom Software from $175.00 to $185.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 1st. Stifel Nicolaus upped their price objective on Paycom Software from $150.00 to $179.00 and gave the stock a “hold” rating in a report on Wednesday, May 1st. Northland Securities upped their price objective on Paycom Software from $215.00 to $275.00 and gave the stock an “outperform” rating in a report on Tuesday, July 9th. Needham & Company LLC upped their price objective on Paycom Software from $230.00 to $280.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Jefferies Financial Group downgraded Paycom Software from a “buy” rating to a “hold” rating and set a $233.00 price objective on the stock. in a report on Friday, July 19th. Ten research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $216.29.
NYSE PAYC traded down $2.07 during trading hours on Wednesday, reaching $235.81. 2,787 shares of the company’s stock were exchanged, compared to its average volume of 503,530. The company has a market cap of $13.38 billion, a PE ratio of 108.37, a PEG ratio of 3.27 and a beta of 1.63. Paycom Software has a one year low of $107.46 and a one year high of $246.85. The business’s fifty day simple moving average is $231.99. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.04 and a current ratio of 1.04.
In other news, COO Jon Evans sold 2,100 shares of the stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $240.47, for a total value of $504,987.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Jeffrey D. York sold 25,000 shares of the stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $204.37, for a total value of $5,109,250.00. The disclosure for this sale can be found here. In the last three months, insiders sold 31,747 shares of company stock worth $6,546,721. 16.09% of the stock is currently owned by company insiders.
Several hedge funds have recently bought and sold shares of PAYC. BlackRock Inc. raised its stake in Paycom Software by 0.6% during the 1st quarter. BlackRock Inc. now owns 2,225,342 shares of the software maker’s stock worth $420,878,000 after buying an additional 12,749 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its stake in Paycom Software by 1.7% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,997,361 shares of the software maker’s stock worth $377,761,000 after buying an additional 32,751 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in Paycom Software by 1.2% during the 1st quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 900,333 shares of the software maker’s stock worth $170,280,000 after buying an additional 10,900 shares during the period. Jackson Square Partners LLC raised its stake in Paycom Software by 7.4% during the 1st quarter. Jackson Square Partners LLC now owns 848,952 shares of the software maker’s stock worth $160,562,000 after buying an additional 58,293 shares during the period. Finally, Janus Henderson Group PLC raised its stake in Paycom Software by 4.8% during the 1st quarter. Janus Henderson Group PLC now owns 518,544 shares of the software maker’s stock worth $98,072,000 after buying an additional 23,657 shares during the period. 74.48% of the stock is currently owned by institutional investors.
About Paycom Software
Paycom Software, Inc provides cloud-based human capital management (HCM) software service for small to mid-sized companies in the United States. It provides functionality and data analytics that businesses need to manage the employment life cycle from recruitment to retirement. The company's HCM solution offers a suite of applications in the areas of talent acquisition, including applicant tracking, candidate tracker, background checks, on-boarding, e-verify, and tax credit services; and time and labor management, such as time and attendance, scheduling/schedule exchange, time-off requests, labor allocation, labor management reports/push reporting, and geofencing/geotracking.
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