Paycom Software (NYSE:PAYC) Price Target Cut to $399.00

Posted by Defense World Staff on May 5th, 2023

Paycom Software (NYSE:PAYC – Get Rating) had its price objective decreased by stock analysts at Piper Sandler from $417.00 to $399.00 in a report released on Wednesday, The Fly reports. Piper Sandler’s target price indicates a potential upside of 42.51% from the stock’s current price.

Several other research analysts have also weighed in on PAYC. Oppenheimer lifted their target price on Paycom Software from $360.00 to $400.00 and gave the stock an “outperform” rating in a report on Wednesday, February 8th. Needham & Company LLC reissued a “buy” rating and set a $450.00 target price on shares of Paycom Software in a research note on Tuesday, March 28th. DA Davidson upgraded shares of Paycom Software from a “neutral” rating to a “buy” rating and set a $350.00 target price on the stock in a report on Thursday, March 30th. They noted that the move was a valuation call. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Paycom Software from $425.00 to $400.00 and set a “buy” rating for the company in a report on Monday, January 23rd. Finally, Barclays raised their price objective on shares of Paycom Software from $324.00 to $336.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 8th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $368.53.

Paycom Software Trading Down 4.7 %

NYSE:PAYC opened at $279.99 on Wednesday. The firm has a market capitalization of $16.89 billion, a price-to-earnings ratio of 52.53, a PEG ratio of 1.96 and a beta of 1.41. Paycom Software has a 1-year low of $255.82 and a 1-year high of $402.78. The business’s 50-day moving average price is $288.89 and its two-hundred day moving average price is $307.98. The company has a current ratio of 1.19, a quick ratio of 1.16 and a debt-to-equity ratio of 0.02.

Paycom Software (NYSE:PAYC – Get Rating) last released its quarterly earnings data on Tuesday, February 7th. The software maker reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.49 by $0.24. Paycom Software had a net margin of 20.96% and a return on equity of 26.29%. The business had revenue of $370.61 million for the quarter, compared to analyst estimates of $366.71 million. Paycom Software’s quarterly revenue was up 30.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.82 EPS. On average, equities analysts expect that Paycom Software will post 6 earnings per share for the current year.

Insider Activity at Paycom Software

In other news, Director Jason D. Clark sold 1,070 shares of Paycom Software stock in a transaction dated Wednesday, March 15th. The shares were sold at an average price of $278.33, for a total value of $297,813.10. Following the completion of the transaction, the director now owns 4,741 shares of the company’s stock, valued at approximately $1,319,562.53. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 14.50% of the stock is owned by company insiders.

Institutional Trading of Paycom Software

A number of hedge funds have recently made changes to their positions in PAYC. HBK Sorce Advisory LLC lifted its holdings in Paycom Software by 4.0% during the 3rd quarter. HBK Sorce Advisory LLC now owns 771 shares of the software maker’s stock valued at $254,000 after purchasing an additional 30 shares during the last quarter. Quadrant Capital Group LLC lifted its stake in shares of Paycom Software by 19.8% during the 3rd quarter. Quadrant Capital Group LLC now owns 200 shares of the software maker’s stock worth $66,000 after buying an additional 33 shares during the last quarter. Crestwood Advisors Group LLC boosted its holdings in shares of Paycom Software by 1.5% during the 3rd quarter. Crestwood Advisors Group LLC now owns 2,470 shares of the software maker’s stock worth $815,000 after buying an additional 37 shares during the period. Private Trust Co. NA grew its stake in Paycom Software by 10.2% in the 1st quarter. Private Trust Co. NA now owns 401 shares of the software maker’s stock valued at $122,000 after buying an additional 37 shares during the last quarter. Finally, International Assets Investment Management LLC grew its stake in Paycom Software by 1.0% in the 3rd quarter. International Assets Investment Management LLC now owns 4,053 shares of the software maker’s stock valued at $1,337,000 after buying an additional 40 shares during the last quarter. 88.58% of the stock is owned by institutional investors and hedge funds.

About Paycom Software

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Paycom Software, Inc engages in the provision of cloud-based human capital management (HCM) software solutions delivered as Software-as-a-Service. It offers functionality and data analytics that businesses need to manage the complete employment life cycle from recruitment to retirement. Its solutions include talent acquisition, time and labor management, payroll, talent management, and human resource management.