Piper Sandler Raises Paycom Software (NYSE:PAYC) Price Target to $387.00

Paycom Software (NYSE:PAYCGet Rating) had its price target raised by Piper Sandler from $361.00 to $387.00 in a research note released on Wednesday, Marketbeat.com reports. They currently have an overweight rating on the software maker’s stock.

PAYC has been the topic of several other reports. Jefferies Financial Group decreased their price target on Paycom Software from $400.00 to $335.00 in a research report on Monday, May 23rd. KeyCorp decreased their price target on Paycom Software from $400.00 to $340.00 and set an overweight rating on the stock in a research report on Thursday, June 23rd. Credit Suisse Group decreased their price target on Paycom Software from $425.00 to $350.00 in a research report on Wednesday, May 4th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Paycom Software from $450.00 to $425.00 in a research report on Wednesday, May 4th. Finally, Barclays upped their target price on Paycom Software from $308.00 to $339.00 in a research note on Wednesday. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Paycom Software currently has an average rating of Moderate Buy and a consensus price target of $375.43.

Paycom Software Price Performance

NYSE PAYC opened at $370.01 on Wednesday. The company has a market cap of $22.29 billion, a PE ratio of 94.15, a price-to-earnings-growth ratio of 3.34 and a beta of 1.50. Paycom Software has a 52 week low of $255.82 and a 52 week high of $558.97. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.03. The firm’s 50-day simple moving average is $303.54 and its two-hundred day simple moving average is $312.44.

Paycom Software (NYSE:PAYCGet Rating) last released its quarterly earnings data on Tuesday, May 3rd. The software maker reported $1.56 EPS for the quarter, beating the consensus estimate of $1.42 by $0.14. The business had revenue of $353.52 million for the quarter, compared to the consensus estimate of $343.20 million. Paycom Software had a net margin of 18.85% and a return on equity of 23.38%. The company’s revenue was up 29.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.10 earnings per share. Research analysts predict that Paycom Software will post 4.32 earnings per share for the current year.

Paycom Software declared that its board has initiated a share repurchase program on Tuesday, June 7th that permits the company to repurchase $550.00 million in shares. This repurchase authorization permits the software maker to reacquire up to 3% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other Paycom Software news, insider Holly Faurot sold 194 shares of the stock in a transaction on Monday, May 9th. The stock was sold at an average price of $280.32, for a total value of $54,382.08. Following the completion of the transaction, the insider now owns 45,180 shares in the company, valued at $12,664,857.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Holly Faurot sold 194 shares of the firm’s stock in a transaction on Monday, May 9th. The stock was sold at an average price of $280.32, for a total transaction of $54,382.08. Following the completion of the transaction, the insider now directly owns 45,180 shares in the company, valued at $12,664,857.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Bradley Scott Smith sold 1,625 shares of the firm’s stock in a transaction on Wednesday, May 11th. The shares were sold at an average price of $275.24, for a total value of $447,265.00. Following the transaction, the insider now owns 3,600 shares of the company’s stock, valued at $990,864. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,721 shares of company stock worth $5,441,538. 15.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Paycom Software

Large investors have recently bought and sold shares of the business. Toth Financial Advisory Corp increased its holdings in Paycom Software by 250.0% in the 2nd quarter. Toth Financial Advisory Corp now owns 91 shares of the software maker’s stock worth $25,000 after buying an additional 65 shares in the last quarter. Zions Bancorporation N.A. increased its holdings in Paycom Software by 405.3% in the 2nd quarter. Zions Bancorporation N.A. now owns 96 shares of the software maker’s stock worth $27,000 after buying an additional 77 shares in the last quarter. Clear Street Markets LLC boosted its position in Paycom Software by 421.1% in the second quarter. Clear Street Markets LLC now owns 99 shares of the software maker’s stock worth $28,000 after purchasing an additional 80 shares during the last quarter. Allworth Financial LP boosted its position in Paycom Software by 157.1% in the first quarter. Allworth Financial LP now owns 108 shares of the software maker’s stock worth $37,000 after purchasing an additional 66 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its position in Paycom Software by 54.8% in the fourth quarter. Quadrant Capital Group LLC now owns 96 shares of the software maker’s stock worth $40,000 after purchasing an additional 34 shares during the last quarter. 87.12% of the stock is currently owned by institutional investors.

Paycom Software Company Profile

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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.

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Analyst Recommendations for Paycom Software (NYSE:PAYC)

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