Paycom Software (NYSE:PAYC) Given New $190.00 Price Target at Mizuho

Paycom Software (NYSE:PAYC) had its target price boosted by equities researchers at Mizuho from $170.00 to $190.00 in a report issued on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the software maker’s stock. Mizuho’s price objective indicates a potential downside of 13.04% from the stock’s current price.

Several other research analysts have also issued reports on PAYC. TD Cowen increased their price target on Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a report on Monday, September 23rd. Jefferies Financial Group increased their price target on Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. Piper Sandler increased their price target on Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. StockNews.com lowered Paycom Software from a “buy” rating to a “hold” rating in a report on Monday, July 15th. Finally, Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a report on Thursday, August 1st. Twelve equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Paycom Software has a consensus rating of “Hold” and a consensus price target of $193.67.

Paycom Software Stock Performance

Shares of NYSE:PAYC opened at $218.48 on Monday. The business’s 50 day simple moving average is $169.61 and its two-hundred day simple moving average is $163.43. The firm has a market cap of $12.55 billion, a P/E ratio of 26.29, a PEG ratio of 2.91 and a beta of 1.14. Paycom Software has a 52-week low of $139.50 and a 52-week high of $222.30.

Insider Buying and Selling

In other Paycom Software news, insider Bradley Scott Smith sold 1,524 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $157.62, for a total value of $240,212.88. Following the completion of the sale, the insider now directly owns 14,769 shares of the company’s stock, valued at $2,327,889.78. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, insider Bradley Scott Smith sold 1,524 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $157.62, for a total transaction of $240,212.88. Following the sale, the insider now directly owns 14,769 shares in the company, valued at approximately $2,327,889.78. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $211.76, for a total value of $412,932.00. Following the sale, the chief executive officer now owns 2,745,060 shares in the company, valued at approximately $581,293,905.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 71,906 shares of company stock worth $11,931,668. 12.60% of the stock is owned by company insiders.

Institutional Trading of Paycom Software

A number of hedge funds and other institutional investors have recently made changes to their positions in PAYC. Empirical Finance LLC increased its stake in Paycom Software by 3.9% in the 1st quarter. Empirical Finance LLC now owns 1,580 shares of the software maker’s stock worth $314,000 after acquiring an additional 60 shares during the last quarter. Andina Capital Management LLC increased its stake in Paycom Software by 4.0% in the 3rd quarter. Andina Capital Management LLC now owns 1,651 shares of the software maker’s stock worth $275,000 after acquiring an additional 63 shares during the last quarter. Davis Investment Partners LLC increased its stake in Paycom Software by 1.0% in the 3rd quarter. Davis Investment Partners LLC now owns 6,397 shares of the software maker’s stock worth $1,067,000 after acquiring an additional 64 shares during the last quarter. GAMMA Investing LLC increased its stake in Paycom Software by 26.7% in the 3rd quarter. GAMMA Investing LLC now owns 323 shares of the software maker’s stock worth $54,000 after acquiring an additional 68 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in Paycom Software by 1.7% in the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,624 shares of the software maker’s stock worth $661,000 after acquiring an additional 79 shares during the last quarter. 87.77% of the stock is currently owned by institutional investors.

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.