Citigroup Issues Pessimistic Forecast for Paycom Software (NYSE:PAYC) Stock Price

Paycom Software (NYSE:PAYC) had its target price cut by equities researchers at Citigroup from $279.00 to $264.00 in a report issued on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the software maker’s stock. Citigroup‘s price objective points to a potential upside of 11.86% from the stock’s previous close.

A number of other analysts have also recently issued reports on PAYC. Barclays boosted their price objective on Paycom Software from $210.00 to $250.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 13th. UBS Group boosted their price objective on Paycom Software from $205.00 to $285.00 and gave the company a “buy” rating in a research report on Tuesday, September 1st. Guggenheim boosted their price target on Paycom Software from $225.00 to $300.00 and gave the company a “buy” rating in a research note on Friday, October 23rd. BTIG Research lowered Paycom Software from a “buy” rating to a “neutral” rating in a research note on Thursday. Finally, BMO Capital Markets boosted their price target on Paycom Software from $145.00 to $208.00 and gave the company a “market perform” rating in a research note on Thursday, August 6th. Four equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $255.36.

Paycom Software Stock Performance

NYSE PAYC traded down $1.32 during trading on Friday, hitting $236.00. The company’s stock had a trading volume of 1,160,502 shares, compared to its average volume of 1,160,693. Paycom Software has a 52 week low of $104.90 and a 52 week high of $275.22. The firm has a 50 day moving average price of $238.29 and a 200 day moving average price of $166.73. The firm has a market cap of $10.63 billion, a P/E ratio of 22.61, a price-to-earnings-growth ratio of 1.26 and a beta of 0.75. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.06.

Paycom Software (NYSE:PAYC) last announced its earnings results on Wednesday, November 4th. The software maker reported $3.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.81 by $0.56. The business had revenue of $543.80 million for the quarter, compared to analyst estimates of $535.26 million. Paycom Software had a net margin of 23.28% and a return on equity of 52.12%. Paycom Software’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.94 earnings per share. Equities research analysts forecast that Paycom Software will post 10.92 earnings per share for the current fiscal year.

Insider Buying and Selling at Paycom Software

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

Institutional Trading of Paycom Software

A number of hedge funds and other institutional investors have recently modified their holdings of PAYC. Pictet Asset Management Holding SA lifted its stake in shares of Paycom Software by 0.6% during the third quarter. Pictet Asset Management Holding SA now owns 6,240 shares of the software maker’s stock valued at $1,358,000 after acquiring an additional 40 shares during the period. Childress Capital Advisors LLC lifted its stake in shares of Paycom Software by 1.4% during the third quarter. Childress Capital Advisors LLC now owns 2,951 shares of the software maker’s stock valued at $642,000 after acquiring an additional 42 shares during the period. Archford Capital Strategies LLC lifted its stake in shares of Paycom Software by 1.1% during the second quarter. Archford Capital Strategies LLC now owns 4,684 shares of the software maker’s stock valued at $589,000 after acquiring an additional 49 shares during the period. CX Institutional lifted its stake in shares of Paycom Software by 4.7% during the third quarter. CX Institutional now owns 1,399 shares of the software maker’s stock valued at $304,000 after acquiring an additional 63 shares during the period. Finally, Versant Capital Management Inc lifted its stake in shares of Paycom Software by 2.6% during the third quarter. Versant Capital Management Inc now owns 2,689 shares of the software maker’s stock valued at $585,000 after acquiring an additional 69 shares during the period. Institutional investors and hedge funds own 87.77% of the company’s stock.

Paycom Software Company Profile

Paycom Software, Inc. provides cloud-based human capital management (HCM) software that helps employers manage payroll and related workforce processes through a unified platform. Its services support organizations throughout the employee life cycle, from hiring and onboarding to payroll, benefits administration, time and labor management, and talent management. The company’s platform includes employee self-service tools and Beti, a feature that enables employees to review and complete their own payroll.