Paycom (NYSE:PAYC) reached a new 52-week high and low during trading on Wednesday . The company traded as low as $117.76 and last traded at $118.10, with a volume of 361991 shares. The stock had previously closed at $116.03.
A number of equities research analysts have recently commented on the company. Mizuho cut their target price on Paycom from $85.00 to $80.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 7th. Dougherty & Co increased their target price on Paycom from $100.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, April 9th. Robert W. Baird increased their target price on Paycom from $82.00 to $92.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 7th. They noted that the move was a valuation call. Credit Suisse Group increased their target price on Paycom from $82.00 to $85.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 7th. Finally, KeyCorp reissued an “overweight” rating and issued a $127.00 target price (up from $105.00) on shares of Paycom in a research note on Tuesday, March 13th. Six investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $95.29.
The firm has a market cap of $6,961.07, a PE ratio of 101.40, a price-to-earnings-growth ratio of 2.56 and a beta of 1.47. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.25.
Paycom declared that its Board of Directors has initiated a share repurchase plan on Tuesday, February 13th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the software maker to purchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.
In other news, Director Robert J. Levenson sold 3,004 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $100.93, for a total transaction of $303,193.72. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Stacey M. Pezold sold 58,000 shares of the stock in a transaction dated Monday, April 16th. The shares were sold at an average price of $111.20, for a total value of $6,449,600.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 144,000 shares of company stock worth $15,386,441. Corporate insiders own 16.24% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the business. US Bancorp DE lifted its holdings in Paycom by 6.8% in the fourth quarter. US Bancorp DE now owns 9,220 shares of the software maker’s stock valued at $740,000 after acquiring an additional 584 shares during the period. Cambridge Investment Research Advisors Inc. lifted its holdings in Paycom by 9.8% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 7,142 shares of the software maker’s stock valued at $574,000 after acquiring an additional 637 shares during the period. Bfsg LLC lifted its holdings in Paycom by 18.3% in the fourth quarter. Bfsg LLC now owns 4,221 shares of the software maker’s stock valued at $339,000 after acquiring an additional 654 shares during the period. Advisory Research Inc. lifted its holdings in Paycom by 2.8% in the fourth quarter. Advisory Research Inc. now owns 26,613 shares of the software maker’s stock valued at $2,138,000 after acquiring an additional 737 shares during the period. Finally, Virtu Financial LLC lifted its holdings in Paycom by 30.6% in the fourth quarter. Virtu Financial LLC now owns 3,791 shares of the software maker’s stock valued at $305,000 after acquiring an additional 889 shares during the period. 87.65% of the stock is currently owned by institutional investors.
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Paycom Software, Inc provides cloud-based human capital management (HCM) software service for small to mid-sized companies in the United States. It provides functionality and data analytics that businesses need to manage the employment life cycle from recruitment to retirement. The company's HCM solution offers a suite of applications in the areas of talent acquisition, including applicant tracking, candidate tracker, background checks, on-boarding, e-verify, and tax credit services; and time and labor management, such as time and attendance, scheduling/schedule exchange, time-off requests, labor allocation, labor management reports/push reporting, and geofencing/geotracking.
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