Paycom Software (NYSE:PAYC) Rating Lowered to Hold at StockNews.com

Paycom Software (NYSE:PAYC - Get Free Report) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating in a research note issued to investors on Wednesday.

Several other research firms have also issued reports on PAYC. Citigroup upped their target price on shares of Paycom Software from $172.00 to $196.00 and gave the stock a "neutral" rating in a research note on Thursday, October 31st. Jefferies Financial Group increased their price objective on shares of Paycom Software from $170.00 to $175.00 and gave the company a "hold" rating in a research note on Thursday, October 31st. Mizuho boosted their target price on Paycom Software from $190.00 to $210.00 and gave the stock a "neutral" rating in a research note on Friday, December 13th. Barclays increased their price target on Paycom Software from $172.00 to $181.00 and gave the company an "equal weight" rating in a research report on Thursday, October 31st. Finally, BMO Capital Markets boosted their price objective on Paycom Software from $183.00 to $197.00 and gave the stock a "market perform" rating in a research report on Thursday, October 31st. Twelve investment analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $196.63.

Paycom Software Trading Up 0.9 %

Paycom Software stock traded up $1.84 during trading on Wednesday, hitting $205.10. 576,472 shares of the company were exchanged, compared to its average volume of 461,875. The company has a market capitalization of $11.83 billion, a P/E ratio of 24.68, a PEG ratio of 3.12 and a beta of 1.14. The business's 50 day moving average is $219.78 and its 200 day moving average is $183.62. Paycom Software has a 52 week low of $139.50 and a 52 week high of $242.74.

Insider Transactions at Paycom Software

In related news, CEO Chad R. Richison sold 1,950 shares of the company's stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $229.09, for a total transaction of $446,725.50. Following the sale, the chief executive officer now directly owns 2,731,410 shares in the company, valued at approximately $625,738,716.90. This represents a 0.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders sold 23,400 shares of company stock worth $4,534,725. 14.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Paycom Software

Institutional investors have recently made changes to their positions in the stock. Ashton Thomas Private Wealth LLC purchased a new stake in Paycom Software during the 2nd quarter worth about $25,000. Envestnet Asset Management Inc. increased its position in shares of Paycom Software by 33.4% during the second quarter. Envestnet Asset Management Inc. now owns 285,349 shares of the software maker's stock valued at $40,816,000 after buying an additional 71,384 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Paycom Software by 4.0% in the second quarter. Dimensional Fund Advisors LP now owns 262,803 shares of the software maker's stock worth $37,591,000 after buying an additional 10,204 shares in the last quarter. Edgestream Partners L.P. lifted its holdings in shares of Paycom Software by 209.1% in the second quarter. Edgestream Partners L.P. now owns 14,399 shares of the software maker's stock worth $2,060,000 after buying an additional 9,741 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. bought a new position in shares of Paycom Software in the second quarter valued at approximately $234,000. 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.

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