Paycom Software (NYSE:PAYC) Cut to "Hold" at StockNews.com

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

Several other research analysts also recently weighed in on the company. JPMorgan Chase & Co. upped their target price on Paycom Software from $185.00 to $200.00 and gave the stock a "neutral" rating in a research note on Thursday, February 13th. Piper Sandler increased their price objective on shares of Paycom Software from $191.00 to $224.00 and gave the company a "neutral" rating in a report on Friday, February 14th. Citigroup cut their target price on shares of Paycom Software from $234.00 to $221.00 and set a "neutral" rating for the company in a research note on Thursday, January 16th. Mizuho raised 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. Finally, Needham & Company LLC reiterated a "hold" rating on shares of Paycom Software in a research note on Thursday, February 13th. Twelve research analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $209.22.

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Paycom Software Trading Up 4.6 %

PAYC traded up $9.41 on Tuesday, reaching $213.03. The stock had a trading volume of 707,553 shares, compared to its average volume of 610,535. The business's 50-day moving average price is $208.61 and its two-hundred day moving average price is $197.65. The company has a market cap of $12.20 billion, a P/E ratio of 23.94, a price-to-earnings-growth ratio of 2.40 and a beta of 1.15. Paycom Software has a 12-month low of $139.50 and a 12-month high of $242.74.

Paycom Software (NYSE:PAYC - Get Free Report) last posted 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, analysts predict that Paycom Software will post 7.15 earnings per share for the current year.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Glass Jacobson Investment Advisors llc lifted its stake 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 valued at $26,000 after purchasing an additional 112 shares during the last quarter. Murphy & Mullick Capital Management Corp purchased a new stake in Paycom Software in the 4th quarter valued at about $30,000. Brooklyn Investment Group acquired a new position in Paycom Software in the third quarter valued at about $28,000. Pin Oak Investment Advisors Inc. boosted its stake in Paycom Software by 73.3% during the third quarter. Pin Oak Investment Advisors Inc. now owns 182 shares of the software maker's stock worth $30,000 after buying an additional 77 shares during the period. Finally, Putney Financial Group LLC acquired a new stake in shares of Paycom Software during the fourth quarter valued at about $39,000. 87.77% of the stock is currently owned by hedge funds and other 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.