Barclays Issues Pessimistic Forecast for Paycom Software (NYSE:PAYC) Stock Price

Paycom Software (NYSE:PAYC) had its target price reduced by investment analysts at Barclays from $229.00 to $221.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the software maker’s stock. Barclays‘s price objective indicates a potential upside of 6.41% from the stock’s previous close.

A number of other research firms also recently commented on PAYC. Mizuho boosted their price objective on Paycom Software from $190.00 to $210.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. Piper Sandler boosted their price objective on Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. TD Cowen boosted their price objective on Paycom Software from $193.00 to $248.00 and gave the stock a “hold” rating in a research note on Monday, December 9th. Jefferies Financial Group lifted their target price on Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. Finally, BMO Capital Markets lifted their target price on Paycom Software from $183.00 to $197.00 and gave the stock a “market perform” rating in a report on Thursday, October 31st. Twelve research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $204.75.

Paycom Software Stock Performance

PAYC opened at $207.70 on Thursday. Paycom Software has a one year low of $139.50 and a one year high of $242.74. The stock’s fifty day moving average is $218.21 and its 200-day moving average is $185.77. The company has a market capitalization of $11.98 billion, a PE ratio of 24.99, a P/E/G ratio of 2.87 and a beta of 1.14.

Insider Activity

In other news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction on Friday, October 25th. The stock was sold at an average price of $164.97, for a total transaction of $321,691.50. Following the transaction, the chief executive officer now owns 2,756,760 shares in the company, valued at approximately $454,782,697.20. The trade was a 0.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders have sold 17,550 shares of company stock worth $3,562,202. 14.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Sylebra Capital LLC grew its stake in Paycom Software by 0.3% in the third quarter. Sylebra Capital LLC now owns 1,962,468 shares of the software maker’s stock valued at $326,888,000 after purchasing an additional 5,000 shares in the last quarter. Geode Capital Management LLC grew its stake in Paycom Software by 3.3% in the third quarter. Geode Capital Management LLC now owns 1,426,920 shares of the software maker’s stock valued at $237,015,000 after purchasing an additional 45,404 shares in the last quarter. FMR LLC grew its stake in Paycom Software by 55.0% in the third quarter. FMR LLC now owns 1,007,919 shares of the software maker’s stock valued at $167,889,000 after purchasing an additional 357,723 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in Paycom Software by 1.0% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 627,510 shares of the software maker’s stock valued at $104,524,000 after purchasing an additional 6,488 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Paycom Software by 45.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 486,462 shares of the software maker’s stock valued at $81,030,000 after purchasing an additional 151,807 shares in the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Paycom Software Company Profile

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.