Barclays Boosts Paycom Software (NYSE:PAYC) Price Target to $172.00

Paycom Software (NYSE:PAYC) had its price objective upped by Barclays from $167.00 to $172.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has an “equal weight” rating on the software maker’s stock. Barclays‘s target price would indicate a potential upside of 4.74% from the company’s previous close.

Several other equities analysts have also weighed in on the stock. StockNews.com lowered shares of Paycom Software from a “buy” rating to a “hold” rating in a research report on Monday, July 15th. Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a research report on Thursday, August 1st. TD Cowen lifted their price target on shares of Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a report on Monday, September 23rd. Citigroup reduced their price objective on Paycom Software from $193.00 to $162.00 and set a “neutral” rating for the company in a report on Tuesday, June 18th. Finally, Jefferies Financial Group decreased their target price on Paycom Software from $170.00 to $145.00 and set a “hold” rating for the company in a research report on Monday, June 24th. Seventeen research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, Paycom Software currently has an average rating of “Hold” and a consensus target price of $180.17.

Paycom Software Stock Performance

Shares of Paycom Software stock traded up $0.24 during mid-day trading on Friday, hitting $164.22. 77,394 shares of the stock were exchanged, compared to its average volume of 823,445. Paycom Software has a 12 month low of $139.50 and a 12 month high of $278.23. The company has a 50-day simple moving average of $163.47 and a 200 day simple moving average of $166.37. The company has a market capitalization of $9.43 billion, a P/E ratio of 19.86, a P/E/G ratio of 2.31 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 for the quarter, compared to analyst estimates of $436.19 million. Analysts predict that Paycom Software will post 6.67 EPS for the current year.

Insider Transactions at Paycom Software

In related news, insider Bradley Scott Smith sold 1,524 shares of the business’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 transaction 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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Bradley Scott Smith sold 1,524 shares of the stock in a transaction on Thursday, August 8th. The stock was 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Craig E. Boelte sold 11,882 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer now owns 294,849 shares of the company’s stock, valued at approximately $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. Over the last ninety days, insiders have sold 71,906 shares of company stock valued at $11,642,951. 14.50% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PAYC. ARK & TLK Investments LLC bought a new position in shares of Paycom Software in the 4th quarter worth $2,260,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in 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 during the last quarter. Janney Montgomery Scott LLC raised its position in Paycom Software by 17.7% during the first quarter. Janney Montgomery Scott LLC now owns 59,242 shares of the software maker’s stock valued at $11,790,000 after purchasing an additional 8,927 shares in the last quarter. Sylebra Capital LLC bought a new stake in Paycom Software during the first quarter worth about $253,196,000. Finally, Profund Advisors LLC bought a new stake in Paycom Software during the second quarter worth about $589,000. 87.77% of the stock is currently owned by 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.