KeyCorp Upgrades Paycom Software (NYSE:PAYC) to “Overweight”

Paycom Software (NYSE:PAYC) was upgraded by equities researchers at KeyCorp from a “sector weight” rating to an “overweight” rating in a report released on Monday, MarketBeat.com reports. The firm presently has a $245.00 price objective on the software maker’s stock. KeyCorp’s price target would indicate a potential upside of 18.44% from the stock’s current price.

Several other research analysts have also commented on the stock. StockNews.com lowered shares of Paycom Software from a “buy” rating to a “hold” rating in a research note on Tuesday, March 4th. TD Cowen lifted their price target on shares of Paycom Software from $193.00 to $248.00 and gave the stock a “hold” rating in a research note on Monday, December 9th. Citigroup reduced their price objective on shares of Paycom Software from $234.00 to $221.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a research report on Thursday, February 13th. Finally, Mizuho upped their target price on Paycom Software from $190.00 to $210.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Twelve investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $212.80.

Paycom Software Trading Down 4.7 %

Shares of NYSE PAYC opened at $206.86 on Monday. The stock has a market capitalization of $11.85 billion, a price-to-earnings ratio of 23.24, a P/E/G ratio of 2.40 and a beta of 1.14. Paycom Software has a 12-month low of $139.50 and a 12-month high of $242.74. The firm’s 50-day moving average price is $208.89 and its 200-day moving average price is $198.89.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings data on Wednesday, February 12th. The software maker reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.99 by $0.03. Paycom Software had a return on equity of 33.53% and a net margin of 26.66%. On average, equities analysts predict that Paycom Software will post 7.15 EPS for the current fiscal year.

Insider Transactions at Paycom Software

In other news, Director J C. Watts, Jr. sold 500 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $218.22, for a total transaction of $109,110.00. Following the transaction, the director now directly owns 7,730 shares in the company, valued at approximately $1,686,840.60. This trade represents a 6.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Randall Peck sold 3,600 shares of Paycom Software stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $212.19, for a total transaction of $763,884.00. Following the transaction, the chief operating officer now directly owns 50,665 shares in the company, valued at approximately $10,750,606.35. The trade was a 6.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 14.50% of the company’s stock.

Institutional Investors Weigh In On Paycom Software

A number of institutional investors have recently added to or reduced their stakes in the stock. FMR LLC boosted its holdings in shares of Paycom Software by 137.8% in the 4th quarter. FMR LLC now owns 2,396,452 shares of the software maker’s stock valued at $491,201,000 after buying an additional 1,388,533 shares in the last quarter. Sylebra Capital LLC lifted its position in Paycom Software by 63.8% during the fourth quarter. Sylebra Capital LLC now owns 3,215,085 shares of the software maker’s stock valued at $658,996,000 after acquiring an additional 1,252,617 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Paycom Software by 1,153.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 401,889 shares of the software maker’s stock worth $82,375,000 after purchasing an additional 369,825 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Paycom Software in the fourth quarter worth $63,923,000. Finally, Zurich Insurance Group Ltd FI acquired a new position in shares of Paycom Software during the fourth quarter worth $60,882,000. 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.