Paycom Software (NYSE:PAYC) Upgraded by KeyCorp to "Overweight" Rating

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

Several other equities analysts have also issued reports on PAYC. Stifel Nicolaus lowered their price target on Paycom Software from $215.00 to $187.00 and set a "hold" rating on the stock in a research note on Thursday, February 13th. Mizuho raised their price objective 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 cut shares of Paycom Software from a "buy" rating to a "hold" rating in a research note on Tuesday, March 4th. Citigroup lowered their price target on Paycom Software from $234.00 to $221.00 and set a "neutral" rating on the stock in a research report on Thursday, January 16th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Paycom Software from $185.00 to $200.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. Twelve analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $212.80.

Remove Ads

Paycom Software Price Performance

PAYC stock opened at $213.03 on Monday. The stock has a market capitalization of $12.20 billion, a price-to-earnings ratio of 23.94, a price-to-earnings-growth ratio of 2.40 and a beta of 1.14. The company has a 50-day moving average of $208.61 and a two-hundred day moving average of $198.19. Paycom Software has a 52-week low of $139.50 and a 52-week high of $242.74.

Paycom Software (NYSE:PAYC - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The software maker reported $2.02 EPS for the quarter, topping the consensus estimate of $1.99 by $0.03. Paycom Software had a return on equity of 33.53% and a net margin of 26.66%. Equities analysts expect that Paycom Software will post 7.15 EPS for the current fiscal year.

Insider Activity at Paycom Software

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

Institutional Trading of Paycom Software

A number of hedge funds have recently modified their holdings of PAYC. Private Trust Co. NA grew its holdings in Paycom Software by 9.3% during the fourth quarter. Private Trust Co. NA now owns 575 shares of the software maker's stock valued at $118,000 after purchasing an additional 49 shares during the period. Oppenheimer & Co. Inc. grew its holdings in shares of Paycom Software by 1.8% in the 4th quarter. Oppenheimer & Co. Inc. now owns 2,939 shares of the software maker's stock valued at $602,000 after buying an additional 51 shares during the period. Wrapmanager Inc. increased its position in shares of Paycom Software by 2.6% in the 3rd quarter. Wrapmanager Inc. now owns 2,176 shares of the software maker's stock valued at $362,000 after buying an additional 56 shares in the last quarter. Benjamin Edwards Inc. increased its position in shares of Paycom Software by 1.1% in the 4th quarter. Benjamin Edwards Inc. now owns 5,502 shares of the software maker's stock valued at $1,128,000 after buying an additional 60 shares in the last quarter. Finally, Michael S. Ryan Inc. raised its stake in Paycom Software by 2.5% during the 4th quarter. Michael S. Ryan Inc. now owns 2,796 shares of the software maker's stock worth $573,000 after buying an additional 68 shares during the period. 87.77% of the stock is currently owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.