Mizuho began coverage on shares of Paycom Software (NYSE:PAYC) in a research note issued to investors on Wednesday morning, BenzingaRatingsTable reports. The firm issued a neutral rating and a $240.00 price objective on the software maker’s stock.
A number of other analysts have also recently commented on PAYC. ValuEngine cut Paycom Software from a strong-buy rating to a buy rating in a research report on Thursday, August 1st. Cantor Fitzgerald assumed coverage on Paycom Software in a research report on Tuesday, June 18th. They set a neutral rating on the stock. Oppenheimer lifted their target price on Paycom Software from $220.00 to $255.00 and gave the stock an outperform rating in a research report on Wednesday, July 31st. Needham & Company LLC lifted their target price on Paycom Software from $230.00 to $280.00 and gave the stock a buy rating in a research report on Wednesday, July 31st. Finally, Stifel Nicolaus boosted their price target on Paycom Software from $150.00 to $179.00 and gave the company a hold rating in a research report on Wednesday, May 1st. Nine analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $226.79.
PAYC opened at $248.91 on Wednesday. The business’s 50-day simple moving average is $238.70 and its 200-day simple moving average is $207.27. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.07 and a current ratio of 1.07. Paycom Software has a one year low of $107.46 and a one year high of $256.84. The stock has a market capitalization of $14.54 billion, a P/E ratio of 114.18, a price-to-earnings-growth ratio of 3.34 and a beta of 1.59.
In other Paycom Software news, COO Jon Evans sold 2,100 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $240.47, for a total transaction of $504,987.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Bradley Scott Smith sold 2,600 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $200.95, for a total value of $522,470.00. The disclosure for this sale can be found here. Insiders have sold a total of 29,700 shares of company stock worth $6,848,457 in the last quarter. 16.09% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CSat Investment Advisory L.P. acquired a new position in Paycom Software during the 2nd quarter worth approximately $34,000. Global Retirement Partners LLC increased its position in Paycom Software by 100.0% during the 1st quarter. Global Retirement Partners LLC now owns 200 shares of the software maker’s stock worth $38,000 after purchasing an additional 100 shares during the period. Riverhead Capital Management LLC purchased a new stake in shares of Paycom Software during the 2nd quarter worth approximately $45,000. Flagship Harbor Advisors LLC boosted its stake in shares of Paycom Software by 404.8% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 212 shares of the software maker’s stock worth $48,000 after acquiring an additional 170 shares in the last quarter. Finally, CWM LLC purchased a new stake in shares of Paycom Software during the 1st quarter worth approximately $45,000. Institutional investors own 74.89% of the company’s stock.
Paycom Software Company Profile
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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