Paycom Software (NYSE:PAYC) Stock Price Expected to Rise, Jefferies Financial Group Analyst Says

Paycom Software (NYSE:PAYC) had its price target upped by analysts at Jefferies Financial Group from $160.00 to $300.00 in a report issued on Tuesday, Benzinga reports. The firm presently has a “hold” rating on the software maker’s stock. Jefferies Financial Group‘s target price would suggest a potential upside of 15.29% from the stock’s previous close.

PAYC has been the topic of several other research reports. UBS Group raised their price target on Paycom Software from $205.00 to $285.00 and gave the company a “buy” rating in a research note on Tuesday, September 1st. Cantor Fitzgerald increased their target price on shares of Paycom Software from $135.00 to $195.00 and gave the stock a “neutral” rating in a report on Thursday, August 6th. Citigroup raised their target price on shares of Paycom Software from $136.00 to $194.00 and gave the company a “neutral” rating in a research report on Friday, August 7th. Stifel Nicolaus boosted their price target on shares of Paycom Software from $120.00 to $200.00 and gave the company a “hold” rating in a report on Thursday, August 6th. Finally, Bank of America began coverage on shares of Paycom Software in a research report on Tuesday, September 29th. They issued an “underperform” rating and a $200.00 price target for the company. Five analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $242.64.

Paycom Software Trading Down 3.0%

Shares of NYSE:PAYC traded down $8.04 during trading on Tuesday, reaching $260.21. 343,795 shares of the company were exchanged, compared to its average volume of 1,172,310. The firm has a market capitalization of $11.73 billion, a PE ratio of 27.63, a P/E/G ratio of 1.47 and a beta of 0.82. The business’s fifty day simple moving average is $231.44 and its 200-day simple moving average is $161.48. Paycom Software has a 12-month low of $104.90 and a 12-month high of $275.22. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.07 and a quick ratio of 1.07.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings results on Wednesday, August 5th. The software maker reported $2.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.38 by $0.40. Paycom Software had a return on equity of 37.06% and a net margin of 22.78%. The firm had revenue of $531.20 million during the quarter, compared to analyst estimates of $513.12 million. During the same quarter in the previous year, the business earned $2.06 earnings per share. Paycom Software’s quarterly revenue was up 9.8% on a year-over-year basis. On average, research analysts anticipate that Paycom Software will post 10.80 EPS 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 dated Thursday, August 27th. The shares were sold at an average price of $237.60, for a total transaction of $612,295.20. Following the transaction, the insider owned 70,152 shares in the company, valued at $16,668,115.20. This represents a 3.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 13.20% of the stock is owned by corporate insiders.

Institutional Trading of Paycom Software

Several large investors have recently added to or reduced their stakes in the company. Fluent Financial LLC acquired a new stake in shares of Paycom Software in the second quarter worth $2,439,000. Principal Financial Group Inc. boosted its stake in shares of Paycom Software by 290.5% during the 1st quarter. Principal Financial Group Inc. now owns 243,762 shares of the software maker’s stock worth $29,627,000 after acquiring an additional 181,346 shares in the last quarter. Greenwich Wealth Management LLC acquired a new position in Paycom Software in the 2nd quarter worth about $5,118,000. Corient Private Wealth LP acquired a new stake in Paycom Software in the second quarter valued at approximately $10,803,000. Finally, Janus Henderson Group PLC increased its position in shares of Paycom Software by 467.2% in the first quarter. Janus Henderson Group PLC now owns 23,200 shares of the software maker’s stock valued at $2,819,000 after buying an additional 19,110 shares in the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

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.