Paycom Software (NYSE:PAYC) PT Raised to $171.00

Paycom Software (NYSE:PAYC) had its target price hoisted by equities research analysts at TD Cowen from $147.00 to $171.00 in a report released on Thursday, Benzinga reports. The firm currently has a “hold” rating on the software maker’s stock. TD Cowen’s target price suggests a potential upside of 3.12% from the company’s previous close.

A number of other equities research analysts have also commented on PAYC. Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a report on Thursday. Barclays increased their price objective on shares of Paycom Software from $161.00 to $167.00 and gave the stock an “equal weight” rating in a report on Thursday. Citigroup reduced their target price on shares of Paycom Software from $193.00 to $162.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 18th. Jefferies Financial Group reduced their target price on shares of Paycom Software from $170.00 to $145.00 and set a “hold” rating on the stock in a research note on Monday, June 24th. Finally, BMO Capital Markets reduced their target price on shares of Paycom Software from $200.00 to $190.00 and set a “market perform” rating on the stock in a research note on Thursday, May 2nd. Seventeen research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $238.25.

Paycom Software Price Performance

Shares of PAYC traded down $0.96 on Thursday, hitting $165.83. The company’s stock had a trading volume of 1,196,319 shares, compared to its average volume of 850,758. The company has a market capitalization of $9.64 billion, a PE ratio of 20.33, a PEG ratio of 2.75 and a beta of 1.16. Paycom Software has a fifty-two week low of $139.50 and a fifty-two week high of $332.50. The company has a 50 day moving average price of $151.02 and a 200 day moving average price of $175.47.

Paycom Software (NYSE:PAYC) last announced its earnings results on Wednesday, May 1st. The software maker reported $4.25 EPS for the quarter, topping the consensus estimate of $1.96 by $2.29. The business had revenue of $499.88 million for the quarter, compared to the consensus estimate of $495.89 million. Paycom Software had a return on equity of 32.84% and a net margin of 26.91%. On average, equities analysts forecast that Paycom Software will post 6.36 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $180.82, for a total value of $352,599.00. Following the sale, the chief executive officer now directly owns 3,091,958 shares in the company, valued at $559,087,845.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $180.82, for a total value of $352,599.00. Following the sale, the chief executive officer now directly owns 3,091,958 shares in the company, valued at $559,087,845.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Amy Vickroy sold 1,381 shares of the firm’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $143.39, for a total transaction of $198,021.59. Following the completion of the transaction, the executive vice president now directly owns 19,962 shares of the company’s stock, valued at $2,862,351.18. The disclosure for this sale can be found here. In the last three months, insiders have sold 54,937 shares of company stock worth $8,395,458. Company insiders own 14.50% of the company’s stock.

Hedge Funds Weigh In On Paycom Software

Hedge funds and other institutional investors have recently made changes to their positions in the company. Mather Group LLC. bought a new position in Paycom Software during the first quarter worth $26,000. MFA Wealth Advisors LLC acquired a new position in Paycom Software during the second quarter worth about $26,000. Hexagon Capital Partners LLC raised its stake in Paycom Software by 333.3% during the fourth quarter. Hexagon Capital Partners LLC now owns 130 shares of the software maker’s stock worth $27,000 after acquiring an additional 100 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in Paycom Software during the second quarter worth about $27,000. Finally, Palisade Asset Management LLC acquired a new position in Paycom Software during the first quarter worth about $32,000. 87.77% of the stock is owned by institutional investors.

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.