Paycom Software, Inc. (NYSE:PAYC) Given Average Recommendation of “Hold” by Analysts

Paycom Software, Inc. (NYSE:PAYC) has been given a consensus recommendation of “Hold” by the eleven brokerages that are currently covering the company, Marketbeat reports. Eleven investment analysts have rated the stock with a hold recommendation. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $204.75.

A number of analysts have recently issued reports on the stock. TD Cowen increased their price target on shares of Paycom Software from $193.00 to $248.00 and gave the stock a “hold” rating in a research report on Monday, December 9th. Jefferies Financial Group lifted their target price 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 dropped their price target on shares of Paycom Software from $234.00 to $221.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Piper Sandler lifted their price objective on Paycom Software from $160.00 to $191.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Finally, BMO Capital Markets raised their price target on Paycom Software from $183.00 to $197.00 and gave the stock a “market perform” rating in a research note on Thursday, October 31st.

Insider Transactions at Paycom Software

In other news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $211.76, for a total value of $412,932.00. Following the transaction, the chief executive officer now directly owns 2,745,060 shares in the company, valued at approximately $581,293,905.60. The trade was a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last three months, insiders sold 11,700 shares of company stock worth $2,577,900. 12.60% of the stock is owned by insiders.

Institutional Trading of Paycom Software

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Armstrong Advisory Group Inc. acquired a new stake in shares of Paycom Software in the third quarter worth $26,000. Brooklyn Investment Group acquired a new stake in Paycom Software in the 3rd quarter worth $28,000. Pin Oak Investment Advisors Inc. increased its holdings in shares of Paycom Software by 73.3% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 182 shares of the software maker’s stock worth $30,000 after purchasing an additional 77 shares during the period. First Horizon Advisors Inc. raised its position in shares of Paycom Software by 821.7% during the third quarter. First Horizon Advisors Inc. now owns 212 shares of the software maker’s stock valued at $35,000 after buying an additional 189 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in shares of Paycom Software by 277.1% in the third quarter. Blue Trust Inc. now owns 264 shares of the software maker’s stock valued at $44,000 after buying an additional 194 shares during the period. Institutional investors and hedge funds own 87.77% of the company’s stock.

Paycom Software Stock Down 3.3 %

PAYC opened at $206.65 on Thursday. The firm has a market capitalization of $11.92 billion, a P/E ratio of 24.87, a PEG ratio of 2.85 and a beta of 1.14. The stock has a fifty day moving average of $216.98 and a 200-day moving average of $188.11. Paycom Software has a 12-month low of $139.50 and a 12-month high of $242.74.

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.