Paycom Software (NYSE:PAYC) Price Target Raised to $279.00

Paycom Software (NYSE:PAYC) had its price target upped by equities researchers at Citigroup from $194.00 to $279.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “neutral” rating on the software maker’s stock. Citigroup‘s target price would indicate a potential upside of 6.87% from the stock’s current price.

PAYC has been the topic of several other research reports. Barclays boosted their price objective on shares of Paycom Software from $210.00 to $250.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 13th. Cantor Fitzgerald boosted their price target on Paycom Software from $135.00 to $195.00 and gave the stock a “neutral” rating in a research report on Thursday, August 6th. Jefferies Financial Group boosted their price target on Paycom Software from $160.00 to $300.00 and gave the stock a “hold” rating in a research report on Tuesday. Zacks Research downgraded Paycom Software from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 5th. Finally, Wall Street Zen lowered Paycom Software from a “buy” rating to a “hold” rating in a research report on Sunday, September 6th. Five research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $248.71.

Paycom Software Stock Down 2.7%

PAYC traded down $7.18 during trading on Tuesday, reaching $261.07. The stock had a trading volume of 629,768 shares, compared to its average volume of 1,172,661. The stock’s 50 day moving average is $231.44 and its two-hundred day moving average is $161.48. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.57. The company has a market capitalization of $11.77 billion, a price-to-earnings ratio of 27.74, a P/E/G ratio of 1.47 and a beta of 0.82. Paycom Software has a one year low of $104.90 and a one year high of $275.22.

Paycom Software (NYSE:PAYC) last released its earnings results on Wednesday, August 5th. The software maker reported $2.78 earnings per share for the quarter, topping analysts’ consensus estimates of $2.38 by $0.40. The firm had revenue of $531.20 million for the quarter, compared to the consensus estimate of $513.12 million. Paycom Software had a net margin of 22.78% and a return on equity of 37.06%. The company’s revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.06 EPS. As a group, analysts expect that Paycom Software will post 10.80 earnings per share for the current year.

Insider Transactions at Paycom Software

In other news, insider Shane Hadlock sold 2,577 shares of the company’s stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $237.60, for a total value of $612,295.20. Following the transaction, the insider owned 70,152 shares in the company, valued at approximately $16,668,115.20. This represents a 3.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 13.20% of the company’s stock.

Institutional Trading of Paycom Software

Several institutional investors have recently added to or reduced their stakes in PAYC. SYM FINANCIAL Corp bought a new position in Paycom Software during the 3rd quarter valued at about $260,000. Park Avenue Securities LLC bought a new stake in shares of Paycom Software in the third quarter worth approximately $208,000. Signaturefd LLC grew its stake in shares of Paycom Software by 3.4% in the third quarter. Signaturefd LLC now owns 2,547 shares of the software maker’s stock worth $554,000 after acquiring an additional 83 shares during the period. Citizens Financial Group Inc. RI purchased a new position in shares of Paycom Software during the third quarter valued at approximately $710,000. Finally, Fifth Third Wealth Advisors LLC raised its holdings in shares of Paycom Software by 56.7% during the third quarter. Fifth Third Wealth Advisors LLC now owns 4,947 shares of the software maker’s stock valued at $1,077,000 after purchasing an additional 1,790 shares during the last quarter. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Paycom Software Company Profile

Paycom Software, Inc is a provider of cloud-based human capital management (HCM) software designed to help businesses manage employee-related processes through a unified platform. Its solutions support payroll, human resources, talent acquisition and management, time and labor management, compliance, and employee engagement.

The company’s software is intended to allow employers and employees to enter and manage workforce information within a single system. Its offerings include payroll processing, benefits administration, expense management, scheduling, performance management, learning, and recruiting tools.