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Paycom Software (NYSE:PAYC) Price Target Raised to $210.00

Paycom Software logo with Computer and Technology background

Paycom Software (NYSE:PAYC - Get Free Report) had its target price hoisted by stock analysts at Mizuho from $190.00 to $210.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a "neutral" rating on the software maker's stock. Mizuho's price target suggests a potential downside of 10.45% from the company's current price.

PAYC has been the topic of several other research reports. Jefferies Financial Group boosted their price target on Paycom Software from $170.00 to $175.00 and gave the stock a "hold" rating in a research report on Thursday, October 31st. BMO Capital Markets boosted their target price on shares of Paycom Software from $183.00 to $197.00 and gave the stock a "market perform" rating in a report on Thursday, October 31st. Piper Sandler upped their price target on shares of Paycom Software from $160.00 to $191.00 and gave the stock a "neutral" rating in a research report on Thursday, October 31st. TD Cowen lifted their price objective on shares of Paycom Software from $193.00 to $248.00 and gave the company a "hold" rating in a research report on Monday. Finally, Citigroup upped their target price on shares of Paycom Software from $172.00 to $196.00 and gave the company a "neutral" rating in a report on Thursday, October 31st. Twelve investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, Paycom Software presently has an average rating of "Hold" and an average target price of $202.56.

Get Our Latest Report on Paycom Software

Paycom Software Trading Down 2.3 %

Shares of NYSE PAYC traded down $5.50 during mid-day trading on Friday, hitting $234.50. The company had a trading volume of 459,890 shares, compared to its average volume of 788,223. Paycom Software has a one year low of $139.50 and a one year high of $242.74. The company has a market capitalization of $13.52 billion, a PE ratio of 28.22, a price-to-earnings-growth ratio of 3.20 and a beta of 1.11. The firm has a 50-day simple moving average of $204.13 and a two-hundred day simple moving average of $173.15.

Insider Transactions at Paycom Software

In other news, CEO Chad R. Richison sold 1,950 shares of the business's stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $170.19, for a total value of $331,870.50. Following the completion of the sale, the chief executive officer now owns 2,810,910 shares of the company's stock, valued at approximately $478,388,772.90. The trade was a 0.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold a total of 48,750 shares of company stock worth $8,771,880 over the last quarter. Company insiders own 14.50% of the company's stock.

Hedge Funds Weigh In On Paycom Software

A number of hedge funds have recently bought and sold shares of PAYC. Nisa Investment Advisors LLC grew its position in shares of Paycom Software by 51.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,666 shares of the software maker's stock worth $444,000 after purchasing an additional 905 shares in the last quarter. Profund Advisors LLC acquired a new stake in shares of Paycom Software during the 2nd quarter worth $589,000. Sylebra Capital LLC lifted its position in Paycom Software by 53.9% during the second quarter. Sylebra Capital LLC now owns 1,957,468 shares of the software maker's stock worth $279,996,000 after purchasing an additional 685,190 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in Paycom Software by 1,549.8% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 21,662 shares of the software maker's stock worth $3,098,000 after buying an additional 20,349 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in Paycom Software by 9.3% in the 3rd quarter. Principal Financial Group Inc. now owns 65,809 shares of the software maker's stock valued at $10,962,000 after buying an additional 5,574 shares during the period. 87.77% of the stock is owned by institutional investors.

Paycom Software Company Profile

(Get Free Report)

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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