Mizuho Boosts Paycom Software (NYSE:PAYC) Price Target to $190.00

Paycom Software (NYSE:PAYC) had its price objective increased by investment analysts at Mizuho from $170.00 to $190.00 in a report released on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the software maker’s stock. Mizuho’s target price suggests a potential downside of 13.04% from the stock’s previous close.

A number of other research analysts have also weighed in on the company. StockNews.com lowered Paycom Software from a “buy” rating to a “hold” rating in a report on Monday, July 15th. Barclays boosted their target price on Paycom Software from $172.00 to $181.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Jefferies Financial Group boosted their target price on Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a report on Thursday, August 1st. Finally, BMO Capital Markets upped their price objective on Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a report on Thursday, October 31st. Twelve equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $193.67.

Paycom Software Stock Up 3.3 %

NYSE:PAYC opened at $218.48 on Monday. The firm has a market capitalization of $12.55 billion, a price-to-earnings ratio of 26.29, a price-to-earnings-growth ratio of 2.91 and a beta of 1.14. Paycom Software has a twelve month low of $139.50 and a twelve month high of $222.30. The stock’s 50 day moving average price is $169.61 and its two-hundred day moving average price is $163.43.

Insider Buying and Selling

In related news, insider Bradley Scott Smith sold 1,524 shares of the company’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $157.62, for a total transaction of $240,212.88. Following the completion of the sale, the insider now directly owns 14,769 shares in the company, valued at $2,327,889.78. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $155.63, for a total value of $303,478.50. Following the completion of the transaction, the chief executive officer now owns 2,978,858 shares of the company’s stock, valued at $463,599,670.54. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Bradley Scott Smith sold 1,524 shares of the company’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $157.62, for a total value of $240,212.88. Following the completion of the transaction, the insider now directly owns 14,769 shares of the company’s stock, valued at approximately $2,327,889.78. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 71,906 shares of company stock worth $11,931,668 in the last ninety days. 12.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Paycom Software

A number of institutional investors and hedge funds have recently bought and sold shares of PAYC. Sylebra Capital LLC acquired a new position in Paycom Software in the 1st quarter worth about $253,196,000. Federated Hermes Inc. increased its stake in shares of Paycom Software by 1,011.2% in the second quarter. Federated Hermes Inc. now owns 581,964 shares of the software maker’s stock valued at $83,244,000 after buying an additional 529,591 shares during the period. International Assets Investment Management LLC increased its stake in shares of Paycom Software by 9,997.5% in the third quarter. International Assets Investment Management LLC now owns 281,315 shares of the software maker’s stock valued at $46,859,000 after buying an additional 278,529 shares during the period. Confluence Investment Management LLC increased its stake in shares of Paycom Software by 147.3% in the third quarter. Confluence Investment Management LLC now owns 377,876 shares of the software maker’s stock valued at $62,943,000 after buying an additional 225,081 shares during the period. Finally, Raymond James & Associates increased its stake in shares of Paycom Software by 769.2% in the second quarter. Raymond James & Associates now owns 201,366 shares of the software maker’s stock valued at $28,803,000 after buying an additional 178,198 shares during the period. Institutional investors and hedge funds own 87.77% of the company’s stock.

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.