Paycom Software (NYSE:PAYC) Given New $221.00 Price Target at Citigroup

Paycom Software (NYSE:PAYC) had its target price reduced by equities research analysts at Citigroup from $234.00 to $221.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the software maker’s stock. Citigroup’s price objective would indicate a potential upside of 6.85% from the company’s previous close.

Several other brokerages also recently commented on PAYC. Mizuho upped their target price on shares of Paycom Software from $190.00 to $210.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. BMO Capital Markets upped their price target on shares of Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a report on Thursday, October 31st. Piper Sandler raised their price objective on shares of 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 shares of Paycom Software from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Jefferies Financial Group boosted their price target on Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a report on Thursday, October 31st. Twelve equities research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $199.75.

Paycom Software Trading Up 0.7 %

Shares of Paycom Software stock traded up $1.49 during trading on Thursday, reaching $206.84. The company’s stock had a trading volume of 125,679 shares, compared to its average volume of 427,919. The stock has a 50-day moving average price of $219.78 and a two-hundred day moving average price of $183.62. Paycom Software has a one year low of $139.50 and a one year high of $242.74. The stock has a market capitalization of $11.93 billion, a P/E ratio of 24.89, a price-to-earnings-growth ratio of 2.78 and a beta of 1.14.

Insider Activity at Paycom Software

In related news, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $169.17, for a total transaction of $329,881.50. Following the completion of the sale, the chief executive officer now owns 2,764,560 shares of the company’s stock, valued at $467,680,615.20. This represents a 0.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last ninety days, insiders sold 23,400 shares of company stock worth $4,534,725. Company insiders own 14.50% of the company’s stock.

Institutional Trading of Paycom Software

A number of institutional investors and hedge funds have recently made changes to their positions in PAYC. Nisa Investment Advisors LLC increased its stake in shares of Paycom Software by 51.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,666 shares of the software maker’s stock valued at $444,000 after purchasing an additional 905 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Paycom Software by 14.5% during the third 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 in the last quarter. Profund Advisors LLC bought a new position in shares of Paycom Software in the second quarter worth about $589,000. Sylebra Capital LLC grew its holdings in shares of Paycom Software by 53.9% during the 2nd quarter. Sylebra Capital LLC now owns 1,957,468 shares of the software maker’s stock valued at $279,996,000 after purchasing an additional 685,190 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in Paycom Software by 9.3% during the 3rd quarter. Principal Financial Group Inc. now owns 65,809 shares of the software maker’s stock worth $10,962,000 after purchasing an additional 5,574 shares in the last quarter. 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.