Paycom Software (NYSE:PAYC) Stock Price Expected to Rise, Barclays Analyst Says

Paycom Software (NYSE:PAYC) had its target price upped by analysts at Barclays from $172.00 to $181.00 in a research report issued on Thursday, Benzinga reports. The firm currently has an “equal weight” rating on the software maker’s stock. Barclays‘s price target would indicate a potential downside of 15.59% from the company’s previous close.

Other research analysts have also recently issued reports about the company. Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a report on Thursday, August 1st. Jefferies Financial Group boosted their price objective on Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a research note on Thursday. Piper Sandler raised their target price on Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a research note on Thursday. StockNews.com lowered shares of Paycom Software from a “buy” rating to a “hold” rating in a research report on Monday, July 15th. Finally, TD Cowen raised their target price on Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a research note on Monday, September 23rd. Seventeen equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $184.08.

Paycom Software Stock Up 24.5 %

Shares of NYSE:PAYC traded up $42.17 during trading on Thursday, reaching $214.42. 1,800,677 shares of the company’s stock traded hands, compared to its average volume of 813,504. Paycom Software has a fifty-two week low of $139.50 and a fifty-two week high of $247.42. The firm has a market cap of $12.31 billion, a PE ratio of 25.90, a P/E/G ratio of 2.34 and a beta of 1.17. The company has a 50-day simple moving average of $165.64 and a 200-day simple moving average of $162.91.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings data on Wednesday, July 31st. The software maker reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.07. Paycom Software had a return on equity of 33.36% and a net margin of 26.55%. The company had revenue of $437.51 million for the quarter, compared to analysts’ expectations of $436.19 million. On average, equities research analysts forecast that Paycom Software will post 6.64 EPS for the current year.

Insiders Place Their Bets

In other Paycom Software news, insider Bradley Scott Smith sold 1,524 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $157.62, for a total transaction of $240,212.88. Following the sale, the insider now directly owns 14,769 shares in the company, valued at $2,327,889.78. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Bradley Scott Smith sold 1,524 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $157.62, for a total value of $240,212.88. Following the completion of the transaction, the insider now directly owns 14,769 shares of the company’s stock, valued at $2,327,889.78. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $167.37, for a total value of $326,371.50. Following the completion of the transaction, the chief executive officer now directly owns 2,754,810 shares of the company’s stock, valued at $461,072,549.70. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 71,906 shares of company stock worth $11,714,536 over the last three months. Company insiders own 12.60% of the company’s stock.

Institutional Investors Weigh In On Paycom Software

Several large investors have recently modified their holdings of the company. Marks Group Wealth Management Inc raised its position in Paycom Software by 168.3% in the third quarter. Marks Group Wealth Management Inc now owns 35,124 shares of the software maker’s stock worth $5,851,000 after acquiring an additional 22,035 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its position in Paycom Software by 6.6% in the third quarter. Robeco Institutional Asset Management B.V. now owns 13,971 shares of the software maker’s stock worth $2,327,000 after acquiring an additional 867 shares in the last quarter. Van ECK Associates Corp raised its position in Paycom Software by 11.0% in the third quarter. Van ECK Associates Corp now owns 10,452 shares of the software maker’s stock worth $1,718,000 after acquiring an additional 1,037 shares in the last quarter. Optas LLC purchased a new position in Paycom Software in the third quarter worth $954,000. Finally, Farther Finance Advisors LLC raised its position in Paycom Software by 22.9% in the third quarter. Farther Finance Advisors LLC now owns 602 shares of the software maker’s stock worth $100,000 after acquiring an additional 112 shares in the last quarter. 87.77% of the stock is owned by institutional investors and hedge funds.

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.