Paycom Software (NYSE:PAYC) Downgraded by StockNews.com to “Hold”

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

A number of other equities research analysts also recently weighed in on PAYC. Jefferies Financial Group raised their target price on shares of Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a research note on Thursday, October 31st. BMO Capital Markets raised their price objective on shares of Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a research report on Thursday, October 31st. Citigroup upped their target price on shares of Paycom Software from $172.00 to $196.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Mizuho raised their price target on Paycom Software from $190.00 to $210.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Finally, Piper Sandler upped their price objective on Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Twelve equities research analysts have rated the stock with a hold rating, Based on data from MarketBeat, Paycom Software currently has an average rating of “Hold” and an average target price of $196.63.

Paycom Software Price Performance

NYSE PAYC traded up $1.84 during trading on Wednesday, reaching $205.10. The company’s stock had a trading volume of 576,472 shares, compared to its average volume of 461,875. The firm has a fifty day moving average of $219.78 and a 200 day moving average of $183.62. Paycom Software has a one year low of $139.50 and a one year high of $242.74. The stock has a market capitalization of $11.83 billion, a PE ratio of 24.68, a P/E/G ratio of 3.12 and a beta of 1.14.

Insider Activity at Paycom Software

In related news, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $165.27, for a total transaction of $322,276.50. Following the completion of the sale, the chief executive officer now directly owns 2,766,510 shares in the company, valued at $457,221,107.70. This represents a 0.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders sold 23,400 shares of company stock worth $4,534,725 in the last ninety days. 14.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Paycom Software

A number of hedge funds have recently modified their holdings of PAYC. Nisa Investment Advisors LLC grew its stake in shares of Paycom Software by 51.4% in the third quarter. Nisa Investment Advisors LLC now owns 2,666 shares of the software maker’s stock worth $444,000 after purchasing an additional 905 shares during the last quarter. JPMorgan Chase & Co. grew its position in shares of Paycom Software by 14.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 326,018 shares of the software maker’s stock worth $54,305,000 after buying an additional 41,187 shares during the last quarter. Profund Advisors LLC bought a new position in shares of Paycom Software during the second quarter valued at approximately $589,000. Sylebra Capital LLC lifted its stake in Paycom Software by 53.9% in the second quarter. Sylebra Capital LLC now owns 1,957,468 shares of the software maker’s stock worth $279,996,000 after acquiring an additional 685,190 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in Paycom Software by 9.3% in the third quarter. Principal Financial Group Inc. now owns 65,809 shares of the software maker’s stock valued at $10,962,000 after acquiring an additional 5,574 shares in the last quarter. Hedge funds and other institutional investors 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.