Paycom Software (NYSE:PAYC) Upgraded by KeyCorp to “Overweight” Rating

Paycom Software (NYSE:PAYC) was upgraded by analysts at KeyCorp from a “sector weight” rating to an “overweight” rating in a research note issued on Monday,Briefing.com Automated Import reports. The firm currently has a $245.00 target price on the software maker’s stock. KeyCorp’s price objective indicates a potential upside of 15.01% from the company’s previous close.

Several other equities analysts have also issued reports on PAYC. Stifel Nicolaus lowered their price target on Paycom Software from $215.00 to $187.00 and set a “hold” rating on the stock in a research note on Thursday, February 13th. Mizuho raised their price objective on shares of Paycom Software from $190.00 to $210.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. StockNews.com cut shares of Paycom Software from a “buy” rating to a “hold” rating in a research note on Tuesday, March 4th. Citigroup lowered their price target on Paycom Software from $234.00 to $221.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Paycom Software from $185.00 to $200.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Twelve analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $212.80.

Paycom Software Price Performance

PAYC stock opened at $213.03 on Monday. The stock has a market capitalization of $12.20 billion, a price-to-earnings ratio of 23.94, a price-to-earnings-growth ratio of 2.40 and a beta of 1.14. The company has a 50-day moving average of $208.61 and a two-hundred day moving average of $198.19. Paycom Software has a 52-week low of $139.50 and a 52-week high of $242.74.

Paycom Software (NYSE:PAYC) last issued its quarterly earnings results on Wednesday, February 12th. The software maker reported $2.02 EPS for the quarter, topping 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%. Equities analysts expect that Paycom Software will post 7.15 EPS for the current fiscal year.

Insider Activity at Paycom Software

In related news, Director J C. Watts, Jr. sold 500 shares of Paycom Software stock in a transaction on 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 sale, the director now directly owns 7,730 shares of the company’s stock, valued at $1,686,840.60. The trade was a 6.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Randall Peck sold 3,600 shares of the 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 completion of the transaction, the chief operating officer now directly owns 50,665 shares in the company, valued at $10,750,606.35. The trade was a 6.63 % decrease in their position. The disclosure for this sale can be found here. 14.50% of the stock is currently owned by company insiders.

Institutional Trading of Paycom Software

A number of hedge funds have recently modified their holdings of PAYC. Private Trust Co. NA grew its holdings in Paycom Software by 9.3% during the fourth 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. grew its holdings in shares of Paycom Software by 1.8% in the 4th quarter. Oppenheimer & Co. Inc. now owns 2,939 shares of the software maker’s stock valued at $602,000 after buying an additional 51 shares during the period. Wrapmanager Inc. increased its position in shares of Paycom Software by 2.6% in the 3rd quarter. Wrapmanager Inc. now owns 2,176 shares of the software maker’s stock valued at $362,000 after buying an additional 56 shares in the last quarter. Benjamin Edwards Inc. increased its position in shares of Paycom Software by 1.1% in the 4th quarter. Benjamin Edwards Inc. now owns 5,502 shares of the software maker’s stock valued at $1,128,000 after buying an additional 60 shares in the last quarter. Finally, Michael S. Ryan Inc. raised its stake 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 worth $573,000 after buying an additional 68 shares during the period. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Paycom Software Company Profile

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.