Paycom Software (NYSE:PAYC) Stock Rating Lowered by StockNews.com

Paycom Software (NYSE:PAYC) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

A number of other research firms have also issued reports on PAYC. TD Cowen raised their target price on shares of Paycom Software from $193.00 to $248.00 and gave the company a “hold” rating in a research note on Monday, December 9th. Citigroup raised their price target on Paycom Software from $172.00 to $196.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Jefferies Financial Group raised their target price on Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a report on Thursday, October 31st. BMO Capital Markets upped their price target on Paycom Software from $183.00 to $197.00 and gave the stock a “market perform” rating in a report on Thursday, October 31st. Finally, Piper Sandler raised their price objective on shares of Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Twelve research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $199.75.

Paycom Software Stock Up 1.3 %

Shares of Paycom Software stock opened at $208.01 on Wednesday. Paycom Software has a 12-month low of $139.50 and a 12-month high of $242.74. The stock has a 50 day moving average price of $219.39 and a two-hundred day moving average price of $183.79. The stock has a market capitalization of $11.99 billion, a P/E ratio of 25.03, a PEG ratio of 2.78 and a beta of 1.14.

Insider Transactions at Paycom Software

In related news, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $164.29, for a total transaction of $320,365.50. Following the completion of the sale, the chief executive officer now owns 2,760,660 shares in the company, valued at $453,548,831.40. This trade represents a 0.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In the last ninety days, insiders sold 21,450 shares of company stock valued at $4,212,449. Corporate insiders own 14.50% of the company’s stock.

Institutional Trading of Paycom Software

Several hedge funds have recently modified their holdings of PAYC. Ashton Thomas Private Wealth LLC bought a new position in Paycom Software in the 2nd quarter valued at $25,000. Armstrong Advisory Group Inc. bought a new position in shares of Paycom Software in the third quarter valued at about $26,000. Brooklyn Investment Group acquired a new position in Paycom Software during the 3rd quarter worth about $28,000. Pin Oak Investment Advisors Inc. grew its holdings in Paycom Software by 73.3% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 182 shares of the software maker’s stock worth $30,000 after acquiring an additional 77 shares during the last quarter. Finally, First Horizon Advisors Inc. increased its position in Paycom Software by 821.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 212 shares of the software maker’s stock valued at $35,000 after acquiring an additional 189 shares in the last quarter. 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.