Investment analysts at Mizuho began coverage on shares of Paycom Software (NYSE:PAYC) in a research note issued to investors on Wednesday, The Fly reports. The brokerage set a “neutral” rating on the software maker’s stock.
A number of other brokerages have also weighed in on PAYC. Canaccord Genuity increased their price objective on Paycom Software from $160.00 to $195.00 and gave the company a “hold” rating in a report on Thursday, May 2nd. ValuEngine downgraded Paycom Software from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st. Bank of America restated a “neutral” rating and issued a $250.00 target price (up previously from $215.00) on shares of Paycom Software in a research report on Wednesday, July 31st. Cantor Fitzgerald initiated coverage on Paycom Software in a research report on Tuesday, June 18th. They issued a “neutral” rating on the stock. Finally, Credit Suisse Group raised their target price on Paycom Software from $190.00 to $235.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. They noted that the move was a valuation call. Nine equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $225.77.
Shares of NYSE PAYC traded up $4.93 during trading hours on Wednesday, hitting $251.90. 631,093 shares of the company traded hands, compared to its average volume of 665,387. The stock has a market capitalization of $14.43 billion, a price-to-earnings ratio of 115.55, a price-to-earnings-growth ratio of 3.26 and a beta of 1.59. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.07. The company’s 50 day moving average price is $237.65 and its 200 day moving average price is $205.77. Paycom Software has a 12 month low of $107.46 and a 12 month high of $256.84.
In related news, COO Jon Evans sold 2,100 shares of the stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $240.47, for a total value of $504,987.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bradley Scott Smith sold 2,600 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $200.95, for a total value of $522,470.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,700 shares of company stock valued at $6,848,457. Insiders own 16.09% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Parallel Advisors LLC increased its stake in Paycom Software by 6.9% during the second quarter. Parallel Advisors LLC now owns 755 shares of the software maker’s stock worth $171,000 after acquiring an additional 49 shares during the last quarter. SeaCrest Wealth Management LLC grew its stake in shares of Paycom Software by 1.9% in the second quarter. SeaCrest Wealth Management LLC now owns 2,700 shares of the software maker’s stock valued at $612,000 after buying an additional 50 shares in the last quarter. Comerica Bank boosted its holdings in Paycom Software by 2.6% in the first quarter. Comerica Bank now owns 2,206 shares of the software maker’s stock valued at $414,000 after purchasing an additional 56 shares during the period. Raymond James Trust N.A. boosted its holdings in Paycom Software by 4.9% in the second quarter. Raymond James Trust N.A. now owns 1,519 shares of the software maker’s stock valued at $344,000 after purchasing an additional 71 shares during the period. Finally, Intrust Bank NA boosted its holdings in Paycom Software by 1.3% in the first quarter. Intrust Bank NA now owns 5,642 shares of the software maker’s stock valued at $1,067,000 after purchasing an additional 74 shares during the period. 74.89% of the stock is owned by hedge funds and other institutional investors.
About Paycom Software
Paycom Software, Inc provides cloud-based human capital management (HCM) software service for small to mid-sized companies in the United States. It provides functionality and data analytics that businesses need to manage the employment life cycle from recruitment to retirement. The company's HCM solution offers a suite of applications in the areas of talent acquisition, including applicant tracking, candidate tracker, background checks, on-boarding, e-verify, and tax credit services; and time and labor management, such as time and attendance, scheduling/schedule exchange, time-off requests, labor allocation, labor management reports/push reporting, and geofencing/geotracking.
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