Needham & Company LLC Reaffirms Hold Rating for Paycom Software (NYSE:PAYC)

Paycom Software (NYSE:PAYC)‘s stock had its “hold” rating restated by stock analysts at Needham & Company LLC in a research note issued on Thursday, Benzinga reports.

A number of other equities research analysts also recently weighed in on the stock. Citigroup decreased their price target on shares of Paycom Software from $205.00 to $198.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 31st. BTIG Research initiated coverage on shares of Paycom Software in a research report on Tuesday, February 6th. They set a “neutral” rating on the stock. Piper Sandler upped their target price on shares of Paycom Software from $185.00 to $190.00 and gave the company a “neutral” rating in a research note on Thursday, February 8th. UBS Group upped their target price on shares of Paycom Software from $235.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, January 10th. Finally, JPMorgan Chase & Co. upped their target price on shares of Paycom Software from $140.00 to $165.00 and gave the company a “neutral” rating in a research note on Thursday, February 8th. Seventeen analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Paycom Software currently has a consensus rating of “Hold” and an average target price of $257.18.

Paycom Software Stock Down 0.9 %

PAYC stock opened at $186.24 on Thursday. Paycom Software has a twelve month low of $146.15 and a twelve month high of $374.04. The company has a market cap of $10.72 billion, a PE ratio of 31.57, a price-to-earnings-growth ratio of 3.21 and a beta of 1.17. The business’s 50-day simple moving average is $189.91 and its 200 day simple moving average is $195.35.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings data on Wednesday, February 7th. The software maker reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.15. The company had revenue of $434.60 million during the quarter, compared to the consensus estimate of $422.50 million. Paycom Software had a return on equity of 24.60% and a net margin of 20.12%. The company’s quarterly revenue was up 17.3% on a year-over-year basis. During the same quarter last year, the company earned $1.38 EPS. On average, equities research analysts anticipate that Paycom Software will post 5.73 EPS for the current year.

Institutional Investors Weigh In On Paycom Software

A number of hedge funds have recently added to or reduced their stakes in the stock. International Assets Investment Management LLC boosted its position in Paycom Software by 16,173.6% in the 4th quarter. International Assets Investment Management LLC now owns 787,803 shares of the software maker’s stock valued at $162,855,000 after buying an additional 782,962 shares during the last quarter. ValueAct Holdings L.P. acquired a new position in shares of Paycom Software during the fourth quarter valued at $125,686,000. Meritage Group LP bought a new position in Paycom Software in the third quarter valued at about $103,800,000. Boston Trust Walden Corp acquired a new stake in Paycom Software in the fourth quarter worth about $48,865,000. Finally, DSM Capital Partners LLC bought a new stake in Paycom Software during the 3rd quarter worth about $60,077,000. Institutional investors own 87.77% of the company’s stock.

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.