Barclays Issues Positive Forecast for Paycom Software (NYSE:PAYC) Stock Price

Paycom Software (NYSE:PAYC) had its price objective hoisted by Barclays from $140.00 to $150.00 in a report issued on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the software maker’s stock. Barclays‘s target price would suggest a potential upside of 11.11% from the stock’s previous close.

Several other research analysts have also commented on PAYC. Guggenheim lowered their price target on Paycom Software from $210.00 to $180.00 and set a “buy” rating for the company in a research report on Thursday, February 12th. UBS Group lowered their target price on Paycom Software from $245.00 to $210.00 and set a “buy” rating for the company in a report on Monday, January 26th. Zacks Research upgraded shares of Paycom Software from a “strong sell” rating to a “hold” rating in a research note on Wednesday, February 18th. Cantor Fitzgerald reissued a “neutral” rating on shares of Paycom Software in a research note on Friday. Finally, BMO Capital Markets dropped their price objective on shares of Paycom Software from $175.00 to $137.00 and set a “market perform” rating for the company in a report on Thursday, February 12th. Five equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $169.29.

Paycom Software Stock Performance

Shares of NYSE PAYC traded down $1.66 during mid-day trading on Friday, reaching $135.00. 360,213 shares of the company’s stock were exchanged, compared to its average volume of 1,774,138. The company’s 50-day moving average is $139.51 and its 200-day moving average is $174.32. The firm has a market capitalization of $7.33 billion, a price-to-earnings ratio of 16.69, a PEG ratio of 1.46 and a beta of 0.80. Paycom Software has a 52-week low of $104.90 and a 52-week high of $267.76.

Paycom Software (NYSE:PAYC) last announced its earnings results on Wednesday, February 11th. The software maker reported $2.45 earnings per share for the quarter, topping the consensus estimate of $2.44 by $0.01. The company had revenue of $544.30 million during the quarter, compared to analyst estimates of $542.79 million. Paycom Software had a net margin of 22.10% and a return on equity of 24.25%. Paycom Software’s revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.32 earnings per share. As a group, equities analysts predict that Paycom Software will post 7.15 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Paycom Software news, CFO Robert D. Foster sold 1,300 shares of the company’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $162.66, for a total value of $211,458.00. Following the completion of the transaction, the chief financial officer owned 14,747 shares in the company, valued at $2,398,747.02. This represents a 8.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 10.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Paycom Software

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. True Wealth Design LLC grew its position in shares of Paycom Software by 946.7% during the fourth quarter. True Wealth Design LLC now owns 157 shares of the software maker’s stock worth $25,000 after acquiring an additional 142 shares during the last quarter. Brown Brothers Harriman & Co. grew its position in Paycom Software by 190.6% during the 4th quarter. Brown Brothers Harriman & Co. now owns 154 shares of the software maker’s stock worth $25,000 after purchasing an additional 101 shares during the last quarter. Clearstead Advisors LLC increased its stake in Paycom Software by 140.3% in the fourth quarter. Clearstead Advisors LLC now owns 161 shares of the software maker’s stock valued at $26,000 after purchasing an additional 94 shares during the period. Caitlin John LLC purchased a new stake in shares of Paycom Software in the third quarter valued at about $29,000. Finally, CYBER HORNET ETFs LLC acquired a new stake in shares of Paycom Software during the second quarter worth about $29,000. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Paycom Software Company Profile

Paycom Software, Inc (NYSE: PAYC) is a cloud-based human capital management (HCM) software provider that delivers an end-to-end solution for human resources, payroll, talent acquisition, time and labor management, and talent management. Its single-database platform enables organizations to process payroll, track time, administer benefits, and manage recruiting and employee development through a unified system. Paycom’s software is designed to streamline administrative tasks, improve data accuracy, and provide real-time reporting and analytics to support strategic HR decisions.

The company’s core offerings include payroll processing with built-in tax compliance, employee self-service functionality, automated time tracking, and customizable talent acquisition tools that allow employers to create and post job requisitions, screen candidates, and conduct onboarding electronically.