Paycom Software (NYSE:PAYC) PT Raised to $188.00 at TD Cowen

Paycom Software (NYSE:PAYC) had its price target lifted by analysts at TD Cowen from $171.00 to $188.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has a “hold” rating on the software maker’s stock. TD Cowen’s price target indicates a potential upside of 8.22% from the stock’s current price.

PAYC has been the subject of several other research reports. Barclays lifted their price target on Paycom Software from $161.00 to $167.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Citigroup dropped 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. Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a report on Thursday, August 1st. StockNews.com lowered shares of Paycom Software from a “buy” rating to a “hold” rating in a report on Monday, July 15th. Finally, Jefferies Financial Group cut their target price on Paycom Software from $170.00 to $145.00 and set a “hold” rating on the stock in a research note on Monday, June 24th. Seventeen investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Paycom Software currently has a consensus rating of “Hold” and an average target price of $179.75.

Paycom Software Price Performance

Shares of Paycom Software stock opened at $173.72 on Monday. Paycom Software has a 1 year low of $139.50 and a 1 year high of $279.96. The firm has a market cap of $10.09 billion, a price-to-earnings ratio of 21.16, a PEG ratio of 2.39 and a beta of 1.17. The company has a 50-day moving average of $162.68 and a 200 day moving average of $168.07.

Paycom Software (NYSE:PAYC) last announced its earnings results on Wednesday, July 31st. The software maker reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.07. Paycom Software had a net margin of 26.55% and a return on equity of 33.36%. The business had revenue of $437.51 million during the quarter, compared to the consensus estimate of $436.19 million. On average, equities analysts anticipate that Paycom Software will post 6.67 EPS for the current year.

Insider Activity

In related news, CFO Craig E. Boelte sold 11,882 shares of the business’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 transaction of $1,853,354.36. Following the completion of the sale, the chief financial officer now directly owns 294,849 shares in the company, valued at $45,990,547.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Craig E. Boelte sold 11,882 shares of Paycom Software stock in a transaction on Monday, August 12th. The stock was sold at an average price of $155.98, for a total transaction of $1,853,354.36. Following the transaction, the chief financial officer now directly owns 294,849 shares in the company, valued at $45,990,547.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $142.01, for a total value of $276,919.50. Following the completion of the sale, the chief executive officer now owns 3,037,358 shares of the company’s stock, valued at approximately $431,335,209.58. The disclosure for this sale can be found here. Insiders sold 73,856 shares of company stock valued at $11,641,723 in the last quarter. 14.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Paycom Software

Several large investors have recently added to or reduced their stakes in PAYC. ARK & TLK Investments LLC bought a new stake in shares of Paycom Software during the 4th quarter valued at $2,260,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Paycom Software by 29.4% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 64,560 shares of the software maker’s stock valued at $12,848,000 after acquiring an additional 14,670 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in shares of Paycom Software by 17.7% in the first quarter. Janney Montgomery Scott LLC now owns 59,242 shares of the software maker’s stock valued at $11,790,000 after acquiring an additional 8,927 shares in the last quarter. Norges Bank bought a new position in shares of Paycom Software in the fourth quarter worth about $6,670,000. Finally, Sylebra Capital LLC purchased a new stake in shares of Paycom Software during the first quarter worth about $253,196,000. Hedge funds and other institutional investors own 87.77% of the company’s stock.

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.