Paycom Software (NYSE:PAYC) Rating Increased to Overweight at KeyCorp

Paycom Software (NYSE:PAYC) was upgraded by KeyCorp from a “sector weight” rating to an “overweight” rating in a research report issued to clients and investors on Monday,Briefing.com Automated Import reports. The brokerage presently has a $245.00 price target on the software maker’s stock. KeyCorp’s price target would suggest a potential upside of 15.01% from the company’s current price.

Several other brokerages have also recently weighed in on PAYC. Citigroup decreased their price target on shares of Paycom Software from $234.00 to $221.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Mizuho raised their target price on shares of Paycom Software from $190.00 to $210.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Barclays reduced their price objective on shares of Paycom Software from $229.00 to $221.00 and set an “equal weight” rating for the company in a research note on Thursday, January 23rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a research report on Thursday, February 13th. Finally, Piper Sandler upped their target price on Paycom Software from $191.00 to $224.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Twelve investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $212.80.

Paycom Software Trading Up 4.6 %

PAYC opened at $213.03 on Monday. The stock has a market capitalization of $12.20 billion, a P/E ratio of 23.94, a P/E/G ratio of 2.40 and a beta of 1.14. Paycom Software has a 12 month low of $139.50 and a 12 month high of $242.74. The firm’s fifty day simple moving average is $208.61 and its 200 day simple moving average is $198.19.

Paycom Software (NYSE:PAYC) last released its quarterly earnings results on Wednesday, February 12th. The software maker reported $2.02 earnings per share (EPS) for the quarter, beating 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%. On average, equities research analysts predict that Paycom Software will post 7.15 EPS for the current fiscal year.

Insider Activity

In other news, COO Randall Peck sold 3,600 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $212.19, for a total transaction of $763,884.00. Following the completion of the sale, the chief operating officer now owns 50,665 shares in the company, valued at approximately $10,750,606.35. This trade represents a 6.63 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director J C. Watts, Jr. sold 500 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $218.22, for a total transaction of $109,110.00. Following the completion of the transaction, the director now owns 7,730 shares in the company, valued at approximately $1,686,840.60. This trade represents a 6.08 % decrease in their position. The disclosure for this sale can be found here. Insiders own 14.50% of the company’s stock.

Hedge Funds Weigh In On Paycom Software

A number of large investors have recently made changes to their positions in PAYC. Glass Jacobson Investment Advisors llc boosted its stake in Paycom Software by 746.7% in the 4th quarter. Glass Jacobson Investment Advisors llc now owns 127 shares of the software maker’s stock valued at $26,000 after purchasing an additional 112 shares during the period. Brooklyn Investment Group acquired a new stake in shares of Paycom Software during the third quarter worth $28,000. Pin Oak Investment Advisors Inc. boosted its position in shares of Paycom Software by 73.3% in the third quarter. Pin Oak Investment Advisors Inc. now owns 182 shares of the software maker’s stock valued at $30,000 after acquiring an additional 77 shares during the period. Murphy & Mullick Capital Management Corp bought a new stake in shares of Paycom Software in the fourth quarter valued at about $30,000. Finally, First Horizon Advisors Inc. grew its stake in shares of Paycom Software by 821.7% in the third 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 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.