Paycom Software Inc (NYSE:PAYC) Receives $192.92 Consensus Target Price from Analysts
Paycom Software Inc (NYSE:PAYC) has been assigned an average rating of “Buy” from the sixteen research firms that are presently covering the firm, Marketbeat.com reports. Nine investment analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $192.92.
Several brokerages recently issued reports on PAYC. Zacks Investment Research lowered shares of GALP ENERGIA SG/ADR from a “hold” rating to a “sell” rating in a research note on Monday, May 6th. Oppenheimer increased their target price on shares of Paycom Software from $175.00 to $220.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Cantor Fitzgerald began coverage on shares of Upwork in a research note on Tuesday, June 18th. They set an “overweight” rating on the stock. Jefferies Financial Group increased their target price on shares of EXACT Sciences from $100.00 to $115.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Finally, Northland Securities increased their target price on shares of Paycom Software from $215.00 to $275.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 9th.
Shares of NYSE:PAYC traded down $3.41 during trading on Tuesday, reaching $239.97. The stock had a trading volume of 530,999 shares, compared to its average volume of 675,520. The business’s fifty day moving average is $224.85. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.08. Paycom Software has a 52 week low of $100.87 and a 52 week high of $246.85. The stock has a market capitalization of $14.21 billion, a PE ratio of 110.08, a price-to-earnings-growth ratio of 3.48 and a beta of 1.64.
In other Paycom Software news, insider Jeffrey D. York sold 25,000 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $204.37, for a total transaction of $5,109,250.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Jon Evans sold 2,047 shares of the company’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $200.30, for a total transaction of $410,014.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,747 shares of company stock worth $6,546,721. 16.09% of the stock is owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in shares of Paycom Software in the fourth quarter valued at about $51,092,000. Fundsmith LLP purchased a new stake in shares of Paycom Software in the fourth quarter valued at about $20,930,000. Riverstone Advisors LLC purchased a new stake in shares of Paycom Software in the fourth quarter valued at about $8,451,000. Jackson Square Partners LLC raised its holdings in shares of Paycom Software by 7.4% in the first quarter. Jackson Square Partners LLC now owns 848,952 shares of the software maker’s stock valued at $160,562,000 after purchasing an additional 58,293 shares during the last quarter. Finally, Moody Lynn & Lieberson LLC raised its holdings in shares of Paycom Software by 331.4% in the first quarter. Moody Lynn & Lieberson LLC now owns 69,487 shares of the software maker’s stock valued at $13,142,000 after purchasing an additional 53,379 shares during the last quarter. Hedge funds and other institutional investors own 74.38% 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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