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

StockNews.com upgraded shares of Paycom Software (NYSE:PAYC) from a hold rating to a buy rating in a research note released on Friday morning.

Several other brokerages have also commented on PAYC. Jefferies Financial Group boosted their price objective on Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. Piper Sandler raised their price objective on shares of Paycom Software from $160.00 to $191.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Citigroup cut their target price on shares of Paycom Software from $234.00 to $221.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Mizuho lifted their price target on Paycom Software from $190.00 to $210.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. Finally, Barclays reduced their price objective on Paycom Software from $229.00 to $221.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 23rd. Eleven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $204.75.

Paycom Software Stock Performance

NYSE:PAYC opened at $207.42 on Friday. The firm has a market capitalization of $11.96 billion, a price-to-earnings ratio of 24.96, a P/E/G ratio of 2.83 and a beta of 1.14. The stock has a fifty day moving average of $215.83 and a 200 day moving average of $188.72. Paycom Software has a 52-week low of $139.50 and a 52-week high of $242.74.

Insider Buying and Selling at Paycom Software

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $216.60, for a total value of $422,370.00. Following the transaction, the chief executive officer now owns 2,743,110 shares in the company, valued at approximately $594,157,626. The trade was a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last 90 days, insiders sold 9,750 shares of company stock worth $2,169,141. 14.50% of the stock is currently owned by insiders.

Institutional Trading of Paycom Software

Several large investors have recently modified their holdings of PAYC. FMR LLC increased its position in shares of Paycom Software by 55.0% during the third quarter. FMR LLC now owns 1,007,919 shares of the software maker’s stock valued at $167,889,000 after buying 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 acquiring an additional 278,529 shares during the period. Confluence Investment Management LLC raised its position in shares of Paycom Software by 147.3% in the 3rd quarter. Confluence Investment Management LLC now owns 377,876 shares of the software maker’s stock worth $62,943,000 after acquiring an additional 225,081 shares in the last quarter. Strategic Financial Concepts LLC purchased a new position in shares of Paycom Software in the 4th quarter valued at approximately $42,893,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Paycom Software by 45.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 486,462 shares of the software maker’s stock valued at $81,030,000 after purchasing an additional 151,807 shares in the last quarter. 87.77% of the stock is owned by institutional investors.

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.