Paycom Software (NYSE:PAYC) Price Target Raised to $154.00

Paycom Software (NYSE:PAYC) had its price target upped by equities researchers at Barclays from $148.00 to $154.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the software maker’s stock. Barclays‘s price target points to a potential upside of 3.66% from the stock’s current price.

PAYC has been the subject of several other research reports. Zacks Research raised shares of Paycom Software from a “hold” rating to a “strong-buy” rating in a research note on Monday, May 18th. BMO Capital Markets boosted their target price on Paycom Software from $137.00 to $145.00 and gave the stock a “market perform” rating in a report on Thursday, May 7th. UBS Group lowered their target price on Paycom Software from $210.00 to $183.00 and set a “buy” rating for the company in a report on Tuesday, April 21st. Weiss Ratings upgraded shares of Paycom Software from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday. Finally, Mizuho upped their price objective on Paycom Software from $120.00 to $130.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $159.75.

Paycom Software Trading Down 0.8%

Shares of PAYC stock traded down $1.15 during mid-day trading on Tuesday, reaching $148.56. The stock had a trading volume of 45,077 shares, compared to its average volume of 1,374,904. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.83. Paycom Software has a 52-week low of $104.90 and a 52-week high of $248.95. The firm has a market capitalization of $7.08 billion, a PE ratio of 17.19, a price-to-earnings-growth ratio of 1.26 and a beta of 0.80. The stock’s 50-day moving average price is $136.19 and its two-hundred day moving average price is $133.51.

Paycom Software (NYSE:PAYC) last released its earnings results on Wednesday, May 6th. The software maker reported $3.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.99 by $0.16. Paycom Software had a net margin of 22.44% and a return on equity of 28.34%. The firm had revenue of $571.80 million during the quarter, compared to analyst estimates of $564.37 million. During the same period last year, the business earned $2.80 earnings per share. The business’s revenue was up 7.8% on a year-over-year basis. Equities analysts expect that Paycom Software will post 9.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Paycom Software

Large investors have recently made changes to their positions in the company. Fulton Bank N.A. increased its position in shares of Paycom Software by 7.8% during the 2nd quarter. Fulton Bank N.A. now owns 2,070 shares of the software maker’s stock valued at $260,000 after purchasing an additional 149 shares during the period. Fluent Financial LLC acquired a new stake in shares of Paycom Software in the second quarter valued at about $2,439,000. Legacy Wealth Asset Management LLC grew its position in Paycom Software by 25.4% during the second quarter. Legacy Wealth Asset Management LLC now owns 7,277 shares of the software maker’s stock worth $915,000 after buying an additional 1,475 shares in the last quarter. Valeo Financial Advisors LLC grew its stake in shares of Paycom Software by 17.6% in the 2nd quarter. Valeo Financial Advisors LLC now owns 2,049 shares of the software maker’s stock valued at $258,000 after purchasing an additional 306 shares during the period. Finally, Reinhart Partners LLC. grew its position in Paycom Software by 20.1% during the 2nd quarter. Reinhart Partners LLC. now owns 1,219,906 shares of the software maker’s stock worth $153,320,000 after acquiring an additional 204,191 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

About Paycom Software

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.