KeyCorp Upgrades Paycom Software (NYSE:PAYC) to Overweight

Paycom Software (NYSE:PAYC - Get Free Report) was upgraded by equities research analysts at KeyCorp from a "sector weight" rating to an "overweight" rating in a report issued on Monday,Briefing.com Automated Import reports. The brokerage currently has a $245.00 price objective on the software maker's stock. KeyCorp's price target suggests a potential upside of 15.01% from the stock's previous close.

Several other research firms have also issued reports on PAYC. Mizuho increased their target price on shares of Paycom Software from $190.00 to $210.00 and gave the stock a "neutral" rating in a report on Friday, December 13th. StockNews.com downgraded shares of Paycom Software from a "buy" rating to a "hold" rating in a research note on Tuesday, March 4th. Citigroup lowered their price objective on Paycom Software from $234.00 to $221.00 and set a "neutral" rating for the company in a research note on Thursday, January 16th. Stifel Nicolaus dropped their target price on Paycom Software from $215.00 to $187.00 and set a "hold" rating for the company in a research report on Thursday, February 13th. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Paycom Software in a research note on Thursday, February 13th. Twelve analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $212.80.

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Paycom Software Trading Up 4.6 %

NYSE PAYC opened at $213.03 on Monday. Paycom Software has a 1-year low of $139.50 and a 1-year high of $242.74. The stock has a 50-day moving average of $208.61 and a 200-day moving average of $198.19. The firm has a market cap of $12.20 billion, a PE ratio of 23.94, a price-to-earnings-growth ratio of 2.40 and a beta of 1.14.

Paycom Software (NYSE:PAYC - Get Free Report) last released its earnings results on Wednesday, February 12th. The software maker reported $2.02 EPS for the quarter, beating analysts' consensus estimates of $1.99 by $0.03. Paycom Software had a return on equity of 33.53% and a net margin of 26.66%. As a group, equities research analysts forecast that Paycom Software will post 7.15 earnings per share for the current fiscal year.

Insider Buying and Selling at Paycom Software

In related news, COO Randall Peck sold 3,600 shares of the firm's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $212.19, for a total transaction of $763,884.00. Following the transaction, the chief operating officer now directly owns 50,665 shares in the company, valued at $10,750,606.35. This trade represents a 6.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director J C. Watts, Jr. sold 500 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $218.22, for a total transaction of $109,110.00. Following the sale, the director now owns 7,730 shares in the company, valued at approximately $1,686,840.60. This trade represents a 6.08 % decrease in their position. The disclosure for this sale can be found here. 14.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Paycom Software

A number of hedge funds and other institutional investors have recently modified their holdings of PAYC. Glass Jacobson Investment Advisors llc raised its holdings in shares of Paycom Software by 746.7% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 127 shares of the software maker's stock worth $26,000 after purchasing an additional 112 shares in the last quarter. Brooklyn Investment Group acquired a new stake in shares of Paycom Software during the 3rd quarter valued at $28,000. Pin Oak Investment Advisors Inc. boosted its stake 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 acquiring an additional 77 shares in the last quarter. Murphy & Mullick Capital Management Corp acquired a new position in shares of Paycom Software in the 4th quarter worth $30,000. Finally, First Horizon Advisors Inc. increased its stake in Paycom Software by 821.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 212 shares of the software maker's stock worth $35,000 after purchasing an additional 189 shares in the last quarter. 87.77% of the stock is currently 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.

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