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

Paycom Software (NYSE:PAYC) had its price objective raised by equities research analysts at Barclays from $172.00 to $181.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has an “equal weight” rating on the software maker’s stock. Barclays‘s price objective indicates a potential downside of 15.59% from the company’s current price.

Other research analysts also recently issued research reports about the company. TD Cowen lifted their price objective on Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a report on Monday, September 23rd. StockNews.com downgraded Paycom Software from a “buy” rating to a “hold” rating in a report on Monday, July 15th. Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a report on Thursday, August 1st. BMO Capital Markets boosted their price target on Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a report on Thursday. Finally, Jefferies Financial Group boosted their price target on Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a report on Thursday. Seventeen investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $184.08.

Paycom Software Stock Up 24.5 %

NYSE:PAYC traded up $42.17 during trading hours on Thursday, hitting $214.42. 1,800,677 shares of the company’s stock traded hands, compared to its average volume of 813,504. The firm has a market cap of $12.31 billion, a P/E ratio of 25.90, a P/E/G ratio of 2.34 and a beta of 1.17. Paycom Software has a 52 week low of $139.50 and a 52 week high of $247.42. The business’s fifty day simple moving average is $165.64 and its two-hundred day simple moving average is $162.91.

Paycom Software (NYSE:PAYC) last issued its quarterly earnings results 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. The firm had revenue of $437.51 million during the quarter, compared to analyst estimates of $436.19 million. Paycom Software had a return on equity of 33.36% and a net margin of 26.55%. On average, analysts expect that Paycom Software will post 6.64 EPS for the current year.

Insider Buying and Selling at Paycom Software

In related news, insider Bradley Scott Smith sold 1,524 shares of the stock in a transaction dated Thursday, August 8th. The shares were 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 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 this hyperlink. In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $163.71, for a total transaction of $319,234.50. Following the sale, the chief executive officer now directly owns 2,990,558 shares in the company, valued at $489,584,250.18. 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 at this link. Also, insider Bradley Scott Smith sold 1,524 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $157.62, for a total value of $240,212.88. Following the sale, the insider now owns 14,769 shares in the company, valued at approximately $2,327,889.78. This trade 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 90 days. Insiders own 12.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Ashton Thomas Private Wealth LLC bought a new position in shares of Paycom Software during the second quarter valued at approximately $25,000. MFA Wealth Advisors LLC bought a new position in Paycom Software in the second quarter worth approximately $26,000. Armstrong Advisory Group Inc. bought a new position in Paycom Software in the third quarter worth approximately $26,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Paycom Software in the second quarter worth approximately $27,000. Finally, Palisade Asset Management LLC bought a new position in Paycom Software in the first quarter worth approximately $32,000. 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.