Paycom Software’s (PAYC) Hold Rating Reiterated at Needham & Company LLC

Paycom Software (NYSE:PAYC)‘s stock had its “hold” rating restated by stock analysts at Needham & Company LLC in a report issued on Thursday,Benzinga reports.

Several other brokerages have also commented on PAYC. TD Cowen upped their price target on shares of Paycom Software from $193.00 to $248.00 and gave the stock a “hold” rating in a research report on Monday, December 9th. Piper Sandler upped their price target on Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. BMO Capital Markets increased their target price on shares of Paycom Software from $183.00 to $197.00 and gave the stock a “market perform” rating in a research report on Thursday, October 31st. Citigroup cut their price target on shares of Paycom Software from $234.00 to $221.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Finally, StockNews.com upgraded shares of Paycom Software from a “hold” rating to a “buy” rating in a report on Friday, January 31st. Ten equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $204.75.

Paycom Software Stock Up 2.2 %

Shares of Paycom Software stock opened at $207.77 on Thursday. Paycom Software has a fifty-two week low of $139.50 and a fifty-two week high of $242.74. The business’s fifty day moving average is $211.71 and its two-hundred day moving average is $191.26. The firm has a market cap of $11.98 billion, a PE ratio of 25.00, a P/E/G ratio of 2.81 and a beta of 1.15.

Paycom Software (NYSE:PAYC) last released its earnings results on Wednesday, February 12th. The software maker reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.99 by $0.03. Paycom Software had a return on equity of 32.90% and a net margin of 25.78%. Equities research analysts anticipate that Paycom Software will post 6.88 EPS for the current year.

Hedge Funds Weigh In On Paycom Software

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Brooklyn Investment Group purchased a new stake in Paycom Software during the 3rd quarter worth approximately $28,000. Pin Oak Investment Advisors Inc. grew its holdings in Paycom Software by 73.3% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 182 shares of the software maker’s stock worth $30,000 after acquiring an additional 77 shares in the last quarter. Murphy & Mullick Capital Management Corp bought a new stake in shares of Paycom Software in the 4th quarter worth about $30,000. First Horizon Advisors Inc. lifted its position in shares of Paycom Software by 821.7% during the third quarter. First Horizon Advisors Inc. now owns 212 shares of the software maker’s stock worth $35,000 after purchasing an additional 189 shares during the last quarter. Finally, IFP Advisors Inc increased its holdings in Paycom Software by 635.7% in the fourth quarter. IFP Advisors Inc now owns 206 shares of the software maker’s stock valued at $43,000 after buying an additional 178 shares during the last quarter. 87.77% of the stock is owned by hedge funds and other institutional investors.

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.