Paycom Software (NYSE:PAYC) PT Lowered to $193.00

Paycom Software (NYSE:PAYC) had its price objective cut by equities researchers at Citigroup from $196.00 to $193.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the software maker’s stock. Citigroup’s target price suggests a potential upside of 15.76% from the stock’s current price.

PAYC has been the topic of a number of other research reports. Piper Sandler increased their price target on Paycom Software from $185.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, February 8th. Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a research note on Thursday. BTIG Research assumed coverage on shares of Paycom Software in a research report on Tuesday, February 6th. They set a “neutral” rating for the company. Barclays lowered their target price on Paycom Software from $193.00 to $184.00 and set an “equal weight” rating on the stock in a research note on Thursday. Finally, BMO Capital Markets reduced their price target on Paycom Software from $200.00 to $190.00 and set a “market perform” rating for the company in a research note on Thursday. Seventeen research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $256.53.

Paycom Software Stock Performance

NYSE PAYC traded down $19.52 during trading on Thursday, hitting $166.72. The stock had a trading volume of 2,741,151 shares, compared to its average volume of 863,304. The company has a market capitalization of $9.59 billion, a PE ratio of 28.39, a P/E/G ratio of 3.21 and a beta of 1.17. Paycom Software has a 12 month low of $146.15 and a 12 month high of $374.04. The company’s 50-day moving average price is $189.91 and its two-hundred day moving average price is $195.35.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings data on Wednesday, February 7th. The software maker reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.15. Paycom Software had a net margin of 20.12% and a return on equity of 24.60%. The company had revenue of $434.60 million during the quarter, compared to the consensus estimate of $422.50 million. During the same period in the prior year, the business posted $1.38 EPS. The company’s quarterly revenue was up 17.3% on a year-over-year basis. As a group, equities analysts anticipate that Paycom Software will post 5.73 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Paycom Software

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in Paycom Software by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 5,936,910 shares of the software maker’s stock valued at $1,227,278,000 after acquiring an additional 137,583 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Paycom Software by 18.8% in the 3rd quarter. American Century Companies Inc. now owns 1,139,511 shares of the software maker’s stock valued at $295,441,000 after purchasing an additional 180,202 shares during the period. Brown Capital Management LLC boosted its position in shares of Paycom Software by 10.1% during the 4th quarter. Brown Capital Management LLC now owns 1,106,045 shares of the software maker’s stock valued at $228,642,000 after purchasing an additional 101,744 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its stake in Paycom Software by 7.9% during the first quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 977,055 shares of the software maker’s stock worth $182,426,000 after purchasing an additional 71,272 shares during the period. Finally, International Assets Investment Management LLC increased its holdings in Paycom Software by 16,173.6% in the fourth quarter. International Assets Investment Management LLC now owns 787,803 shares of the software maker’s stock worth $162,855,000 after purchasing an additional 782,962 shares in the last quarter. 87.77% of the stock is owned by institutional investors and hedge funds.

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.