Paycom Software (NYSE:PAYC) Rating Lowered to “Hold” at StockNews.com

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

A number of other brokerages have also weighed in on PAYC. Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a research report on Thursday, February 13th. Stifel Nicolaus dropped their target price on shares of Paycom Software from $215.00 to $187.00 and set a “hold” rating for the company in a research report on Thursday, February 13th. Piper Sandler upped their target price on shares of Paycom Software from $191.00 to $224.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. JPMorgan Chase & Co. increased their price objective on shares of Paycom Software from $185.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Finally, TD Cowen increased their price objective on shares of Paycom Software from $193.00 to $248.00 and gave the company a “hold” rating in a research report on Monday, December 9th. Twelve research analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $209.22.

Paycom Software Stock Performance

Shares of NYSE PAYC traded down $2.89 during midday trading on Tuesday, reaching $217.32. The stock had a trading volume of 875,819 shares, compared to its average volume of 595,366. The stock has a 50-day moving average of $208.43 and a 200-day moving average of $197.09. The company has a market capitalization of $12.44 billion, a price-to-earnings ratio of 24.42, a price-to-earnings-growth ratio of 2.40 and a beta of 1.15. Paycom Software has a 12-month low of $139.50 and a 12-month high of $242.74.

Paycom Software (NYSE:PAYC) last issued its earnings results on Wednesday, February 12th. The software maker reported $2.02 earnings per share for the quarter, topping analysts’ consensus estimates of $1.99 by $0.03. Paycom Software had a net margin of 26.66% and a return on equity of 33.53%. As a group, analysts forecast that Paycom Software will post 7.15 EPS for the current fiscal year.

Insider Buying and Selling

In related 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 value of $763,884.00. Following the transaction, the chief operating officer now owns 50,665 shares of the company’s stock, valued at $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 is accessible through the SEC website. Also, Director J C. Watts, Jr. sold 500 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was 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 directly owns 7,730 shares in the company, valued at $1,686,840.60. This represents a 6.08 % decrease in their position. The disclosure for this sale can be found here. 14.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Private Trust Co. NA increased its position in Paycom Software by 9.3% during the 4th quarter. Private Trust Co. NA now owns 575 shares of the software maker’s stock valued at $118,000 after purchasing an additional 49 shares during the period. Oppenheimer & Co. Inc. increased its position in Paycom Software by 1.8% during the 4th quarter. Oppenheimer & Co. Inc. now owns 2,939 shares of the software maker’s stock valued at $602,000 after purchasing an additional 51 shares during the period. Wrapmanager Inc. increased its position in Paycom Software by 2.6% during the 3rd quarter. Wrapmanager Inc. now owns 2,176 shares of the software maker’s stock valued at $362,000 after purchasing an additional 56 shares during the period. Benjamin Edwards Inc. increased its position in Paycom Software by 1.1% during the 4th quarter. Benjamin Edwards Inc. now owns 5,502 shares of the software maker’s stock valued at $1,128,000 after purchasing an additional 60 shares during the period. Finally, Michael S. Ryan Inc. increased its position in Paycom Software by 2.5% during the 4th quarter. Michael S. Ryan Inc. now owns 2,796 shares of the software maker’s stock valued at $573,000 after purchasing an additional 68 shares during the period. 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.