Paycom Software, Inc. (PAYC): This is a very interesting development

The stock of Paycom Software, Inc. (NYSE:PAYC) has been Resumed to Overweight by KeyBanc Capital Markets in its latest research note that was published on September 25. PAYC was given a price target of $275, with other Wall Street analysts also giving their reports regarding the stock. Mizuho, analysts launched coverage of PAYC stock with a Neutral rating, according to their flash note to investors on August 22. Analysts at BofA/Merrill are sticking to their Neutral recommendation. However, on July 31, they lifted target price for these shares to $250 from $215.Analysts at BofA/Merrill, made their first call for the stock with a Neutral rating, according to a research note that dated back to July 31.

Paycom’s stock is covered by 17 analyst(s), with 4 of them rating the stock as Buy. It has been deemed to have Strong Buy by 2 of the analyst(s), 11 of them have rated it as a Hold while none of them rated it as Sell. The situation was different a month ago when the stock was rated as a Buy by only 4 analyst(s). 2 of them rated it as Strong Buy with 11 of them recommended investors to Hold on to the stock. Meanwhile, 1 analyst(s) rated it as a Sell. The above data shows that PAYC has an average analyst rating of Overweight.

Paycom Software, Inc., which has current market capitalization of above $13 Billion, published its last quarter earnings on June 30, 2019. The company was able to amass $169 Million in revenue that saw a quarterly growth rate of 31.45%. During the last reported quarter of the year, the company also recorded $0.67 earnings per share (EPS) which is $0.06 above the $0.61 estimated by analyst, leading to a surprise factor of 9.84%.

PAYC surged by $2.82 during the normal trading session on Wednesday and reaching a high of $211.75 during the day while it closed the day at $211.26. The Paycom stock had a low trading volume of 0.64 million shares on that day, which is low compared to the average daily volume of 642.71M shares. PAYC has also lost 2.23% of its value over the past 7 days. However, the stock has declined by 2.56% in the 3 months of the year. Over the past six months meanwhile, it has gained 15.46% while it has added 72.53% year-on date. Let us now take a look at the stock’s potential support and resistance levels. The publicly traded company was seen to have slipped by -18.66% from its 3 months high price. However, taking another look at PAYC will indicate that it is trading +4.95% away from its 90-day low. Looking at the bigger picture, the Paycom Software, Inc. stock has dropped by -18.66% from its 52-week high while it has surged by +96.59% from its 52-week low price.

On August 14, 2019 York Jeffrey D., Chief Sales Officer sold 25000 shares of the company. The average price for that transaction was $232.84 per share, which meant that York Jeffrey D. earned $5821000 selling the stocks. The sale was made public, with the document of the transaction filed with the SEC. Another insider trading occurred, with COO, Evans Jon selling 2100 shares of this stock on July 09, 2019. The average selling price for the stock was $240.47 per share, with the sold stock accruing $504987. Following this transaction, the COO Evans Jon now holds 23198 shares of the company, which is worth around $4846758.

Let us now take a quick look at the stock’s short, medium and long-term indicators. Composite Indicator shows that PAYC stock was rated as a Sell by TrendSpotter. Its short-term indicators reveal that Paycom has a 20-day average volume of 741107 shares. This has led to the PAYC price forecast being placed as a age: Hold on an average basis. In the medium term, however, the PAYC stock has its 50-Day average volume of 666223 shares, with the indicators also rating it as a e: 50%Buy. Finally, in the long-term, the PAYC stocks have a 100-Day average volume of 699777 shares, with the long-term indicators rating the stock as just age: Hold. Looking at the three indicators, the PAYC stock has been set on a 0.08 Buy rating.

Paycom has around 95 Billion cash on their books at the moment. This figure will have to be compared and looked into, with their current liabilities standing at $1 Trillion. The Paycom stock is bringing in revenue of over 12 months, which is roughly 25 Billion. Despite all that, Paycom Software, Inc. is seeing things progressing very much as their y-o-y quarterly revenue surged by 20.58%.

Looking at the stock’s Technical analysis information over the past 50 days shows that its Raw Stochastic average stood at 17.07%. This figure is worse than the company’s 20-day Raw Stochastic average which currently stands at 17.07%. Over the past 20 days, Paycom’s Stochastic %K stood at 17.5% while its Stochastic %D was revealed to be 20.77%.