Paycom Software (NYSE:PAYC) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Paycom Software (NYSE:PAYC) had its target price boosted by equities research analysts at JPMorgan Chase & Co. from $185.00 to $200.00 in a report released on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the software maker’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential downside of 4.63% from the stock’s previous close.

Several other research firms also recently weighed in on PAYC. StockNews.com upgraded shares of Paycom Software from a “hold” rating to a “buy” rating in a report on Friday, January 31st. Stifel Nicolaus decreased their price target on shares of Paycom Software from $215.00 to $187.00 and set a “hold” rating for the company in a research report on Thursday. Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a research report on Thursday. TD Cowen raised their price target on shares of Paycom Software from $193.00 to $248.00 and gave the company a “hold” rating in a research report on Monday, December 9th. Finally, Barclays decreased their price objective on shares of Paycom Software from $229.00 to $221.00 and set an “equal weight” rating for the company in a research report on Thursday, January 23rd. Eleven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $209.22.

Paycom Software Stock Performance

Paycom Software stock opened at $209.72 on Thursday. Paycom Software has a fifty-two week low of $139.50 and a fifty-two week high of $242.74. The firm has a 50 day moving average price of $210.84 and a 200 day moving average price of $191.52. The company has a market capitalization of $12.09 billion, a PE ratio of 25.24, a price-to-earnings-growth ratio of 2.81 and a beta of 1.15.

Paycom Software (NYSE:PAYC) last posted its earnings results on Wednesday, February 12th. The software maker reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.99 by $0.03. Paycom Software had a net margin of 25.78% and a return on equity of 32.90%. As a group, equities research analysts forecast that Paycom Software will post 6.88 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PAYC. GAMMA Investing LLC increased its stake in Paycom Software by 26.7% in the third quarter. GAMMA Investing LLC now owns 323 shares of the software maker’s stock valued at $54,000 after purchasing an additional 68 shares during the period. CWM LLC increased its stake in shares of Paycom Software by 20.1% during the third quarter. CWM LLC now owns 2,008 shares of the software maker’s stock worth $334,000 after acquiring an additional 336 shares during the period. Livforsakringsbolaget Skandia Omsesidigt increased its stake in shares of Paycom Software by 200.0% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 300 shares of the software maker’s stock worth $50,000 after acquiring an additional 200 shares during the period. Exchange Traded Concepts LLC purchased a new stake in Paycom Software during the third quarter worth about $265,000. Finally, Procyon Advisors LLC purchased a new stake in Paycom Software during the third quarter worth about $204,000. 87.77% of the stock is currently 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.