Paycom Software Inc (PAYC) Given Average Rating of “Buy” by Brokerages
Paycom Software Inc (NYSE:PAYC) has been given an average rating of “Buy” by the twenty ratings firms that are presently covering the firm, MarketBeat.com reports. Eight investment analysts have rated the stock with a hold recommendation, eleven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $116.53.
Several equities analysts recently commented on PAYC shares. Oppenheimer upped their price target on shares of Paycom Software from $120.00 to $127.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 1st. ValuEngine lowered shares of Paycom Software from a “buy” rating to a “hold” rating in a research report on Wednesday, June 27th. Credit Suisse Group upped their price target on shares of Paycom Software from $95.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 1st. KeyCorp reaffirmed a “buy” rating and set a $133.00 price target on shares of Paycom Software in a research report on Wednesday, August 1st. Finally, Needham & Company LLC started coverage on shares of Paycom Software in a research report on Wednesday, July 18th. They set a “buy” rating and a $130.00 price target for the company.
PAYC stock traded down $2.92 on Wednesday, hitting $160.40. 15,527 shares of the company were exchanged, compared to its average volume of 637,206. Paycom Software has a twelve month low of $73.02 and a twelve month high of $164.08. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.06 and a current ratio of 1.06. The firm has a market capitalization of $9.31 billion, a price-to-earnings ratio of 182.89, a price-to-earnings-growth ratio of 2.94 and a beta of 1.63.
In other news, Director Robert J. Levenson sold 18,750 shares of the company’s stock in a transaction on Monday, July 9th. The shares were sold at an average price of $103.72, for a total value of $1,944,750.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeffrey D. York sold 50,000 shares of the company’s stock in a transaction on Monday, July 2nd. The shares were sold at an average price of $99.84, for a total transaction of $4,992,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 95,287 shares of company stock valued at $10,713,759. 16.24% of the stock is owned by insiders.
Several hedge funds have recently made changes to their positions in PAYC. SeaCrest Wealth Management LLC boosted its stake in shares of Paycom Software by 154.3% in the second quarter. SeaCrest Wealth Management LLC now owns 1,030 shares of the software maker’s stock valued at $102,000 after purchasing an additional 625 shares during the period. Point72 Asset Management L.P. acquired a new stake in Paycom Software in the second quarter valued at $119,000. IFP Advisors Inc raised its holdings in Paycom Software by 181.0% in the first quarter. IFP Advisors Inc now owns 1,124 shares of the software maker’s stock valued at $121,000 after acquiring an additional 724 shares in the last quarter. Rational Advisors LLC acquired a new stake in Paycom Software in the second quarter valued at $148,000. Finally, Envestnet Asset Management Inc. raised its holdings in Paycom Software by 613.3% in the first quarter. Envestnet Asset Management Inc. now owns 1,398 shares of the software maker’s stock valued at $149,000 after acquiring an additional 1,202 shares in the last quarter. Institutional investors and hedge funds own 83.07% of the company’s stock.
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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