Barclays Increases Paycom Software (NYSE:PAYC) Price Target to $181.00

Paycom Software (NYSE:PAYC) had its target price lifted by equities research analysts at Barclays from $172.00 to $181.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “equal weight” rating on the software maker’s stock. Barclays‘s price target would suggest a potential downside of 14.08% from the company’s previous close.

Other equities analysts also recently issued research reports about the stock. BMO Capital Markets raised their target price on shares of Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a research note on Thursday. Jefferies Financial Group upped their price target on Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a research note on Thursday. TD Cowen lifted their price objective on Paycom Software from $171.00 to $188.00 and gave the company a “hold” rating in a research note on Monday, September 23rd. Piper Sandler increased their target price on Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a research report on Thursday, August 1st. Thirteen research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $190.80.

Paycom Software Stock Performance

NYSE PAYC opened at $210.65 on Thursday. Paycom Software has a fifty-two week low of $139.50 and a fifty-two week high of $222.30. The stock has a market cap of $12.10 billion, a P/E ratio of 25.35, a price-to-earnings-growth ratio of 2.45 and a beta of 1.17. The stock has a 50 day simple moving average of $167.57 and a two-hundred day simple moving average of $163.35.

Paycom Software (NYSE:PAYC) last released its quarterly earnings results on Wednesday, July 31st. The software maker reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.07. Paycom Software had a net margin of 25.78% and a return on equity of 33.34%. The company had revenue of $437.51 million during the quarter, compared to the consensus estimate of $436.19 million. Sell-side analysts predict that Paycom Software will post 6.64 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $172.43, for a total transaction of $336,238.50. Following the transaction, the chief executive officer now directly owns 2,750,910 shares of the company’s stock, valued at $474,339,411.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $172.43, for a total transaction of $336,238.50. Following the transaction, the chief executive officer now owns 2,750,910 shares in the company, valued at approximately $474,339,411.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Bradley Scott Smith sold 1,524 shares of Paycom Software stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $157.62, for a total transaction of $240,212.88. Following the sale, the insider now owns 14,769 shares of the company’s stock, valued at $2,327,889.78. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 71,906 shares of company stock valued at $11,731,540. 14.50% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Paycom Software

A number of institutional investors have recently bought and sold shares of the business. Ashton Thomas Private Wealth LLC purchased a new position in shares of Paycom Software during the second quarter worth $25,000. MFA Wealth Advisors LLC acquired a new stake in Paycom Software during the 2nd quarter worth about $26,000. Armstrong Advisory Group Inc. purchased a new position in shares of Paycom Software during the 3rd quarter valued at about $26,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Paycom Software in the 2nd quarter valued at about $27,000. Finally, Palisade Asset Management LLC purchased a new stake in shares of Paycom Software in the first quarter worth about $32,000. 87.77% of the stock is owned by hedge funds and other institutional investors.

About Paycom Software

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.