Barclays Trims Paycom Software (NYSE:PAYC) Target Price to $184.00

Paycom Software (NYSE:PAYC) had its price target decreased by Barclays from $193.00 to $184.00 in a research note issued 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 upside of 11.04% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. JPMorgan Chase & Co. upped their price target on Paycom Software from $165.00 to $175.00 and gave the company a “neutral” rating in a research report on Thursday. BTIG Research started coverage on shares of Paycom Software in a research report on Tuesday, February 6th. They set a “neutral” rating for the company. Jefferies Financial Group reiterated a “hold” rating and set a $195.00 price objective on shares of Paycom Software in a research note on Friday, January 5th. BMO Capital Markets decreased their target price on Paycom Software from $200.00 to $190.00 and set a “market perform” rating for the company in a research note on Thursday. Finally, Piper Sandler lifted their price target on Paycom Software from $185.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, February 8th. Seventeen investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $256.82.

Paycom Software Stock Performance

Shares of PAYC stock traded down $20.53 on Thursday, hitting $165.71. The stock had a trading volume of 1,889,458 shares, compared to its average volume of 857,230. The stock’s 50 day moving average is $189.91 and its 200-day moving average is $195.35. The firm has a market capitalization of $9.54 billion, a price-to-earnings ratio of 27.85, a P/E/G ratio of 3.21 and a beta of 1.17. Paycom Software has a 52-week low of $146.15 and a 52-week high of $374.04.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings data on Wednesday, February 7th. The software maker reported $1.93 earnings per share for the quarter, beating 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 analysts’ expectations of $422.50 million. During the same period in the prior year, the company posted $1.38 EPS. The firm’s revenue for the quarter was up 17.3% on a year-over-year basis. Equities analysts expect that Paycom Software will post 5.73 earnings per share for the current year.

Institutional Trading of Paycom Software

Several institutional investors have recently bought and sold shares of PAYC. Mather Group LLC. bought a new position in Paycom Software in the 1st quarter valued at $26,000. Hexagon Capital Partners LLC raised its position in Paycom Software by 333.3% in the 4th quarter. Hexagon Capital Partners LLC now owns 130 shares of the software maker’s stock valued at $27,000 after purchasing an additional 100 shares during the last quarter. Palisade Asset Management LLC bought a new position in Paycom Software in the 1st quarter valued at $32,000. Cary Street Partners Investment Advisory LLC raised its position in Paycom Software by 83.5% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 156 shares of the software maker’s stock valued at $40,000 after purchasing an additional 71 shares during the last quarter. Finally, Transcendent Capital Group LLC bought a new position in Paycom Software in the 4th quarter valued at $41,000. Institutional investors and hedge funds 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.