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Paycom Software Looks to Continue to Trade Above its Annual-High Share Price Today

By James Quinn

Shares of Paycom Software (NYSE:PAYC) traded today at $161.57, breaking its 52-week high. This new high was reached on below average trading volume as 58,000 shares traded hands, while the average 30-day volume is approximately 896,000 shares.

Paycom Software, Inc. designs and develops software solutions. The Company provides data analytical software products to manage the employment life cycle from recruitment to retirement. Paycom Software serves customers in the United States.

Paycom Software (NYSE:PAYC) is currently priced 28.9% above its average consensus analyst price target of $114.79. The stock should discover initial support at its 50-day moving average (MA) of $129.98 and subsequent support at its 200-day MA of $106.44.

Paycom Software share prices have moved between a 52-week high of $161.57 and a 52-week low of $73.02 and are now trading 121% above that low price at $161.50 per share. Over the past week, the 200-day moving average (MA) has gone up 1.0% while the 50-day MA has advanced 2.8%.

SmarTrend recommended that subscribers consider buying shares of Paycom Software on August 1st, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $121.50. Since that recommendation, shares of Paycom Software have risen 30.7%. We continue to monitor PAYC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows paycom software

Ticker(s): PAYC