Paycom Software (NYSE:PAYC) Price Target Raised to $170.00

Paycom Software (NYSE:PAYC) had its price objective lifted by analysts at Jefferies Financial Group from $155.00 to $170.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has a “hold” rating on the software maker’s stock. Jefferies Financial Group’s target price suggests a potential upside of 1.30% from the company’s current price.

Several other equities analysts also recently weighed in on PAYC. StockNews.com downgraded shares of Paycom Software from a “buy” rating to a “hold” rating in a report on Monday, July 15th. TD Cowen raised their price objective on shares of Paycom Software from $171.00 to $188.00 and gave the company a “hold” rating in a research report on Monday, September 23rd. Barclays upped their target price on shares of Paycom Software from $167.00 to $172.00 and gave the stock an “equal weight” rating in a report on Friday, October 11th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a report on Thursday, August 1st. Seventeen investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $182.25.

Paycom Software Price Performance

Shares of PAYC stock opened at $167.82 on Tuesday. Paycom Software has a 1 year low of $139.50 and a 1 year high of $264.70. The firm has a fifty day moving average price of $164.48 and a 200-day moving average price of $164.38. The company has a market cap of $9.75 billion, a price-to-earnings ratio of 20.44, a PEG ratio of 2.33 and a beta of 1.17.

Paycom Software (NYSE:PAYC) last issued its quarterly earnings results on Wednesday, July 31st. The software maker reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.07. Paycom Software had a return on equity of 33.36% and a net margin of 26.55%. The business had revenue of $437.51 million during the quarter, compared to analysts’ expectations of $436.19 million. Equities research analysts expect that Paycom Software will post 6.67 EPS for the current year.

Insider Activity

In related news, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $171.30, for a total value of $334,035.00. Following the sale, the chief executive officer now owns 2,805,060 shares in the company, valued at approximately $480,506,778. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $171.30, for a total transaction of $334,035.00. Following the sale, the chief executive officer now directly owns 2,805,060 shares of the company’s stock, valued at $480,506,778. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Craig E. Boelte sold 11,882 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $155.98, for a total value of $1,853,354.36. Following the completion of the sale, the chief financial officer now directly owns 294,849 shares of the company’s stock, valued at $45,990,547.02. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 71,906 shares of company stock worth $11,697,727. 14.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PAYC. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Paycom Software by 29.4% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 64,560 shares of the software maker’s stock worth $12,848,000 after acquiring an additional 14,670 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in Paycom Software by 17.7% in the first quarter. Janney Montgomery Scott LLC now owns 59,242 shares of the software maker’s stock worth $11,790,000 after purchasing an additional 8,927 shares during the last quarter. Sylebra Capital LLC purchased a new position in shares of Paycom Software during the first quarter valued at approximately $253,196,000. Profund Advisors LLC bought a new position in shares of Paycom Software during the second quarter valued at approximately $589,000. Finally, BOKF NA raised its holdings in shares of Paycom Software by 453.0% in the first quarter. BOKF NA now owns 9,219 shares of the software maker’s stock worth $1,828,000 after buying an additional 7,552 shares during the period. 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.