Paycom Software (NYSE:PAYC) Upgraded at KeyCorp

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

Other equities analysts have also issued reports about the company. Mizuho boosted their target price on Paycom Software from $190.00 to $210.00 and gave the stock a “neutral” rating in a research 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. Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a research report on Thursday, February 13th. Barclays decreased their price objective on shares of Paycom Software from $229.00 to $221.00 and set an “equal weight” rating for the company in a research report on Thursday, January 23rd. Finally, Piper Sandler boosted their target price on Paycom Software from $191.00 to $224.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Twelve equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $212.80.

Paycom Software Stock Performance

Shares of PAYC opened at $213.03 on Monday. The company has a 50-day simple moving average of $208.61 and a 200-day simple moving average of $198.19. Paycom Software has a 52 week low of $139.50 and a 52 week high of $242.74. The firm has a market capitalization of $12.20 billion, a P/E ratio of 23.94, a P/E/G ratio of 2.40 and a beta of 1.14.

Paycom Software (NYSE:PAYC) last posted its earnings results on Wednesday, February 12th. The software maker reported $2.02 earnings per share for the quarter, topping the consensus estimate 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, equities analysts forecast that Paycom Software will post 7.15 earnings per share for the current year.

Insider Activity at Paycom Software

In related news, COO Randall Peck sold 3,600 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $212.19, for a total value of $763,884.00. Following the sale, the chief operating officer now directly owns 50,665 shares of the company’s stock, valued at $10,750,606.35. This trade represents a 6.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 sale, the director now directly owns 7,730 shares of the company’s stock, valued at $1,686,840.60. This represents a 6.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 14.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Paycom Software

A number of hedge funds and other institutional investors have recently modified their holdings of PAYC. JPMorgan Chase & Co. grew its holdings in shares of Paycom Software by 14.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 326,018 shares of the software maker’s stock worth $54,305,000 after acquiring an additional 41,187 shares during the period. Principal Financial Group Inc. increased its position in Paycom Software by 9.3% during the third quarter. Principal Financial Group Inc. now owns 65,809 shares of the software maker’s stock valued at $10,962,000 after acquiring an additional 5,574 shares during the last quarter. FMR LLC lifted its stake in shares of Paycom Software by 55.0% in the 3rd quarter. FMR LLC now owns 1,007,919 shares of the software maker’s stock worth $167,889,000 after purchasing an additional 357,723 shares during the period. Nordea Investment Management AB increased its stake in shares of Paycom Software by 3.5% in the 4th quarter. Nordea Investment Management AB now owns 204,377 shares of the software maker’s stock worth $41,952,000 after purchasing an additional 6,916 shares in the last quarter. Finally, SpiderRock Advisors LLC purchased a new stake in Paycom Software in the third quarter worth about $555,000. 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.