Paycom Software (NYSE:PAYC) Price Target Raised to $191.00 at Piper Sandler

Paycom Software (NYSE:PAYC) had its price target upped by stock analysts at Piper Sandler from $160.00 to $191.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the software maker’s stock. Piper Sandler’s target price would suggest a potential upside of 10.78% from the company’s previous close.

A number of other analysts have also recently commented on PAYC. TD Cowen upped their price target on Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a research report on Monday, September 23rd. Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a research report on Thursday, August 1st. Barclays increased their target price on Paycom Software from $167.00 to $172.00 and gave the stock an “equal weight” rating in a research report on Friday, October 11th. StockNews.com cut Paycom Software from a “buy” rating to a “hold” rating in a research report on Monday, July 15th. Finally, Jefferies Financial Group increased their target price on Paycom Software from $155.00 to $170.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Seventeen analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Paycom Software has an average rating of “Hold” and an average price target of $182.33.

Paycom Software Stock Performance

Paycom Software stock opened at $172.42 on Thursday. The stock has a market cap of $9.90 billion, a PE ratio of 20.77, a price-to-earnings-growth ratio of 2.34 and a beta of 1.17. Paycom Software has a one year low of $139.50 and a one year high of $247.42. The stock has a fifty day moving average of $165.64 and a 200 day 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 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.07. The company had revenue of $437.51 million during the quarter, compared to analysts’ expectations of $436.19 million. Paycom Software had a return on equity of 33.36% and a net margin of 26.55%. As a group, sell-side analysts predict that Paycom Software will post 6.64 EPS for the current fiscal year.

Insider Activity

In other news, CFO Craig E. Boelte sold 11,882 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Bradley Scott Smith sold 1,524 shares of the firm’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 transaction of $240,212.88. Following the completion of the sale, the insider now directly owns 14,769 shares of the company’s stock, valued at approximately $2,327,889.78. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Craig E. Boelte sold 11,882 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $155.98, for a total value of $1,853,354.36. Following the sale, the chief financial officer now directly owns 294,849 shares of the company’s stock, valued at $45,990,547.02. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 71,906 shares of company stock valued at $11,714,536 in the last ninety days. Insiders own 12.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Palisade Asset Management LLC purchased a new position in Paycom Software during the 1st quarter worth $32,000. Armstrong Advisory Group Inc. purchased a new position in Paycom Software during the 3rd quarter worth $26,000. Ashton Thomas Private Wealth LLC purchased a new position in Paycom Software during the 2nd quarter worth $25,000. MFA Wealth Advisors LLC purchased a new position in Paycom Software during the 2nd quarter worth $26,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in Paycom Software during the 2nd quarter worth $27,000. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

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.