Barclays Forecasts Strong Price Appreciation for Paycom Software (NYSE:PAYC) Stock

Paycom Software (NYSE:PAYC) had its target price lifted by stock analysts at Barclays from $210.00 to $250.00 in a research note issued on Tuesday, Benzinga reports. The firm currently has an “equal weight” rating on the software maker’s stock. Barclays‘s price target would indicate a potential upside of 6.11% from the stock’s current price.

Several other research firms have also recently commented on PAYC. Wall Street Zen cut shares of Paycom Software from a “buy” rating to a “hold” rating in a research report on Sunday, September 6th. Weiss Ratings upgraded Paycom Software from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday. UBS Group increased their target price on Paycom Software from $205.00 to $285.00 and gave the stock a “buy” rating in a report on Tuesday, September 1st. Zacks Research downgraded Paycom Software from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 5th. Finally, JPMorgan Chase & Co. boosted their price target on Paycom Software from $140.00 to $264.00 and gave the company a “neutral” rating in a report on Tuesday, August 25th. Five investment 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’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $219.79.

Paycom Software Trading Up 0.2%

Shares of Paycom Software stock traded up $0.58 on Tuesday, hitting $235.59. 82,973 shares of the company’s stock traded hands, compared to its average volume of 1,198,302. The firm’s 50-day moving average price is $222.82 and its two-hundred day moving average price is $165.44. The stock has a market capitalization of $10.62 billion, a PE ratio of 25.05, a price-to-earnings-growth ratio of 1.26 and a beta of 0.82. Paycom Software has a one year low of $104.90 and a one year high of $244.98. 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 released its quarterly earnings data on Wednesday, August 5th. The software maker reported $2.78 earnings per share for the quarter, topping the consensus estimate of $2.38 by $0.40. The business had revenue of $531.20 million for the quarter, compared to analyst estimates of $513.12 million. Paycom Software had a net margin of 22.78% and a return on equity of 37.06%. Paycom Software’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the firm earned $2.06 EPS. On average, research analysts expect that Paycom Software will post 10.64 EPS for the current fiscal year.

Insider Activity at Paycom Software

In related news, insider Shane Hadlock sold 241 shares of the stock in a transaction on Friday, August 28th. The shares were sold at an average price of $240.07, for a total transaction of $57,856.87. Following the completion of the transaction, the insider owned 69,911 shares in the company, valued at approximately $16,783,533.77. This represents a 0.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 13.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Paycom Software

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Elevation Wealth Partners LLC grew its holdings in shares of Paycom Software by 76.5% in the 3rd quarter. Elevation Wealth Partners LLC now owns 233 shares of the software maker’s stock valued at $51,000 after acquiring an additional 101 shares in the last quarter. Caitlin John LLC bought a new stake in Paycom Software during the second quarter worth about $31,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Paycom Software during the second quarter worth about $33,000. EFG International AG bought a new stake in Paycom Software during the second quarter worth about $36,000. Finally, Trust Co. of Vermont acquired a new position in Paycom Software during the second quarter valued at approximately $40,000. 87.77% of the stock is owned by institutional investors.

Paycom Software Company Profile

Paycom Software, Inc develops and provides cloud-based human capital management (HCM) software for businesses. Its platform is designed to help employers manage payroll and other workforce processes through a unified system, reducing the need for separate applications and manual data entry.

The company’s products and services include payroll processing, tax management, time and labor management, talent acquisition, onboarding, talent management, employee benefits administration, expense management, and workforce analytics.