Analysts Set Paycom Software, Inc. (NYSE:PAYC) Price Target at $199.75

Shares of Paycom Software, Inc. (NYSE:PAYC) have earned a consensus recommendation of “Hold” from the eleven research firms that are presently covering the stock, MarketBeat Ratings reports. Eleven equities research analysts have rated the stock with a hold rating. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $204.75.

Several research firms have issued reports on PAYC. TD Cowen boosted 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. Barclays reduced their price objective on Paycom Software from $229.00 to $221.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Jefferies Financial Group upped their price objective on shares of Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. Mizuho lifted their price target on Paycom Software from $190.00 to $210.00 and gave the company a “neutral” rating in a report on Friday, December 13th. Finally, StockNews.com lowered shares of Paycom Software from a “buy” rating to a “hold” rating in a research note on Wednesday, January 15th.

Paycom Software Stock Performance

Shares of PAYC opened at $212.77 on Thursday. The stock has a market capitalization of $12.27 billion, a PE ratio of 25.60, a P/E/G ratio of 2.85 and a beta of 1.14. The company’s fifty day moving average is $217.17 and its 200 day moving average is $187.17. Paycom Software has a fifty-two week low of $139.50 and a fifty-two week high of $242.74.

Insiders Place Their Bets

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $229.09, for a total value of $446,725.50. Following the completion of the transaction, the chief executive officer now owns 2,731,410 shares of the company’s stock, valued at $625,738,716.90. This trade represents a 0.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders sold a total of 13,650 shares of company stock valued at $2,914,139 over the last quarter. 14.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Armstrong Advisory Group Inc. acquired a new stake in shares of Paycom Software in the 3rd quarter valued at approximately $26,000. Brooklyn Investment Group acquired a new position in Paycom Software during the third quarter worth about $28,000. Pin Oak Investment Advisors Inc. increased its holdings in Paycom Software by 73.3% in the third quarter. Pin Oak Investment Advisors Inc. now owns 182 shares of the software maker’s stock valued at $30,000 after buying an additional 77 shares in the last quarter. First Horizon Advisors Inc. lifted its position in shares of Paycom Software by 821.7% during the 3rd quarter. First Horizon Advisors Inc. now owns 212 shares of the software maker’s stock valued at $35,000 after acquiring an additional 189 shares during the period. Finally, Blue Trust Inc. boosted its stake in shares of Paycom Software by 277.1% during the 3rd quarter. Blue Trust Inc. now owns 264 shares of the software maker’s stock worth $44,000 after acquiring an additional 194 shares in the last quarter. 87.77% of the stock is owned by institutional investors and hedge funds.

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.