Paycom Software (NYSE:PAYC – Get Free Report) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.
A number of other equities research analysts also recently weighed in on PAYC. JPMorgan Chase & Co. boosted their price target on shares of Paycom Software from $165.00 to $175.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. TD Cowen dropped their price target on shares of Paycom Software from $170.00 to $147.00 and set a “hold” rating for the company in a research note on Thursday, June 20th. Jefferies Financial Group dropped their price target on shares of Paycom Software from $170.00 to $145.00 and set a “hold” rating for the company in a research note on Monday, June 24th. Mizuho dropped their price target on shares of Paycom Software from $185.00 to $170.00 and set a “neutral” rating for the company in a research note on Monday, May 6th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a research note on Thursday, May 2nd. Seventeen equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $237.81.
Paycom Software Trading Up 5.2 %
PAYC stock traded up $7.68 during trading on Monday, hitting $156.11. 1,081,844 shares of the stock traded hands, compared to its average volume of 854,867. Paycom Software has a one year low of $139.50 and a one year high of $374.04. The stock has a market cap of $9.07 billion, a price-to-earnings ratio of 19.01, a P/E/G ratio of 2.25 and a beta of 1.16. The company has a 50 day simple moving average of $155.05 and a 200 day simple moving average of $178.98.
Paycom Software (NYSE:PAYC – Get Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The software maker reported $4.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $2.29. The firm had revenue of $499.88 million during the quarter, compared to the consensus estimate of $495.89 million. Paycom Software had a net margin of 26.91% and a return on equity of 32.84%. As a group, analysts predict that Paycom Software will post 6.37 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $140.20, for a total transaction of $273,390.00. Following the completion of the transaction, the chief executive officer now owns 3,023,708 shares in the company, valued at $423,923,861.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $140.20, for a total value of $273,390.00. Following the completion of the sale, the chief executive officer now owns 3,023,708 shares in the company, valued at $423,923,861.60. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Amy Vickroy sold 1,381 shares of the stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $143.39, for a total transaction of $198,021.59. Following the completion of the sale, the executive vice president now owns 19,962 shares of the company’s stock, valued at approximately $2,862,351.18. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 41,287 shares of company stock worth $6,216,723. 14.50% of the stock is owned by insiders.
Hedge Funds Weigh In On Paycom Software
Hedge funds have recently bought and sold shares of the business. Oak Family Advisors LLC bought a new position in Paycom Software during the fourth quarter worth about $2,994,000. ARK & TLK Investments LLC bought a new position in Paycom Software during the fourth quarter worth about $2,260,000. Janney Montgomery Scott LLC increased its position in Paycom Software by 26.5% during the fourth quarter. Janney Montgomery Scott LLC now owns 50,315 shares of the software maker’s stock worth $10,401,000 after acquiring an additional 10,555 shares during the period. Norges Bank bought a new position in Paycom Software during the fourth quarter worth about $6,670,000. Finally, Charles Schwab Investment Management Inc. increased its position in Paycom Software by 4.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 302,544 shares of the software maker’s stock worth $62,542,000 after acquiring an additional 12,708 shares during the period. 87.77% of the stock is owned by institutional investors.
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.