Paycom Software Inc (NYSE:PAYC) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $97.62 and last traded at $97.82, with a volume of 236657 shares changing hands. The stock had previously closed at $96.11.
PAYC has been the topic of several recent analyst reports. Oppenheimer reiterated a “buy” rating and set a $88.00 price objective (up previously from $75.00) on shares of Paycom Software in a research report on Wednesday, November 1st. Wells Fargo & Co set a $89.00 price objective on shares of Paycom Software and gave the company a “buy” rating in a research report on Wednesday, November 1st. Robert W. Baird reiterated a “buy” rating and set a $82.00 price objective on shares of Paycom Software in a research report on Wednesday, November 1st. Jefferies Group lifted their price objective on shares of Paycom Software from $85.00 to $95.00 and gave the company a “buy” rating in a research report on Wednesday, November 1st. Finally, Northland Securities set a $85.00 price objective on shares of Paycom Software and gave the company a “buy” rating in a research report on Wednesday, November 1st. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company’s stock. Paycom Software presently has a consensus rating of “Buy” and an average price target of $88.56.
The stock has a market cap of $5,659.05, a PE ratio of 85.63, a price-to-earnings-growth ratio of 2.00 and a beta of 1.70. 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 Software declared that its board has authorized a share buyback plan on Tuesday, February 13th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the software maker to buy shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.
In other news, Director Robert J. Levenson sold 18,750 shares of the business’s stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $88.89, for a total transaction of $1,666,687.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jeffrey D. York sold 50,000 shares of the business’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $79.97, for a total transaction of $3,998,500.00. The disclosure for this sale can be found here. Insiders have sold 79,750 shares of company stock worth $6,533,308 in the last quarter. Company insiders own 17.90% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of PAYC. JPMorgan Chase & Co. boosted its stake in shares of Paycom Software by 96.1% during the third quarter. JPMorgan Chase & Co. now owns 1,172,756 shares of the software maker’s stock valued at $87,664,000 after purchasing an additional 574,658 shares during the period. Strs Ohio boosted its stake in shares of Paycom Software by 1,969.7% during the third quarter. Strs Ohio now owns 136,600 shares of the software maker’s stock valued at $10,239,000 after purchasing an additional 130,000 shares during the period. State Street Corp boosted its stake in shares of Paycom Software by 14.0% during the second quarter. State Street Corp now owns 911,240 shares of the software maker’s stock valued at $62,337,000 after purchasing an additional 112,148 shares during the period. Maryland Capital Management purchased a new stake in shares of Paycom Software during the fourth quarter valued at $7,760,000. Finally, Pembroke Management LTD boosted its stake in shares of Paycom Software by 48.4% during the third quarter. Pembroke Management LTD now owns 252,600 shares of the software maker’s stock valued at $18,935,000 after purchasing an additional 82,400 shares during the period. 89.38% of the stock is owned by hedge funds and other institutional investors.
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Paycom Software Company Profile
Paycom Software, Inc is a provider of a cloud-based human capital management (HCM) software solution delivered as Software-as-a-Service (SaaS). The Company provides functionality and data analytics that businesses need to manage the complete employment life cycle from recruitment to retirement. The Company’s applications streamline client processes and provide clients and their employees with the ability to directly access and manage administrative processes, including applications that identify candidates, on-board employees, manage time and labor, administer payroll deductions and benefits, manage performance, terminate employees and administer post-termination health benefits, such as COBRA.
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