Paycom Software, Inc. (NYSE:PAYC) Receives $199.75 Average Target Price from Brokerages

Shares of Paycom Software, Inc. (NYSE:PAYC) have earned an average rating of “Hold” from the eleven research firms that are presently covering the firm, MarketBeat.com reports. Eleven analysts have rated the stock with a hold rating. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $204.75.

A number of research firms recently commented on PAYC. Piper Sandler upped 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. StockNews.com downgraded Paycom Software from a “buy” rating to a “hold” rating in a report on Wednesday, January 15th. TD Cowen lifted their price objective on Paycom Software from $193.00 to $248.00 and gave the company a “hold” rating in a report on Monday, December 9th. Jefferies Financial Group increased their target price on Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. Finally, Mizuho lifted their price target on shares of Paycom Software from $190.00 to $210.00 and gave the company a “neutral” rating in a research note on Friday, December 13th.

Paycom Software Trading Up 2.5 %

Shares of Paycom Software stock opened at $212.77 on Thursday. Paycom Software has a 1-year low of $139.50 and a 1-year high of $242.74. The firm’s 50-day moving average price is $217.17 and its two-hundred day moving average price is $187.17. The stock has a market capitalization of $12.27 billion, a price-to-earnings ratio of 25.60, a P/E/G ratio of 2.85 and a beta of 1.14.

Insider Buying and Selling

In other news, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $209.62, for a total value of $408,759.00. Following the completion of the transaction, the chief executive officer now directly owns 2,747,010 shares in the company, valued at approximately $575,828,236.20. This represents a 0.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders have sold 13,650 shares of company stock worth $2,914,139. Corporate insiders own 14.50% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its position in Paycom Software by 4.0% during the second quarter. Dimensional Fund Advisors LP now owns 262,803 shares of the software maker’s stock valued at $37,591,000 after purchasing an additional 10,204 shares during the period. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Paycom Software by 15.1% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,907 shares of the software maker’s stock valued at $702,000 after buying an additional 643 shares during the period. Pacer Advisors Inc. boosted its stake in shares of Paycom Software by 7.9% in the 2nd quarter. Pacer Advisors Inc. now owns 4,397 shares of the software maker’s stock worth $629,000 after buying an additional 323 shares during the last quarter. Ensign Peak Advisors Inc grew its holdings in shares of Paycom Software by 41.5% in the second quarter. Ensign Peak Advisors Inc now owns 56,578 shares of the software maker’s stock worth $8,093,000 after acquiring an additional 16,586 shares during the period. Finally, Profund Advisors LLC purchased a new stake in shares of Paycom Software during the 2nd quarter valued at about $589,000. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Paycom Software Company Profile

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.