Paycom Software (NYSE:PAYC) Given New $295.00 Price Target at KeyCorp

Paycom Software (NYSE:PAYC) had its price target boosted by investment analysts at KeyCorp from $280.00 to $295.00 in a research report issued to clients and investors on Wednesday, October 28th, Benzinga reports. The firm currently has an “overweight” rating on the software maker’s stock. KeyCorp‘s price objective suggests a potential upside of 26.49% from the stock’s current price.

Several other research firms have also issued reports on PAYC. TD Cowen increased their price objective on Paycom Software from $244.00 to $286.00 and gave the stock a “buy” rating in a research note on Friday, October 2nd. Guggenheim lifted their price objective on Paycom Software from $225.00 to $300.00 and gave the stock a “buy” rating in a research report on Friday, October 23rd. Cantor Fitzgerald raised their target price on Paycom Software from $135.00 to $195.00 and gave the stock a “neutral” rating in a report on Thursday, August 6th. Stifel Nicolaus lifted their price objective on 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 Paycom Software in a research report on Tuesday, September 29th. They set an “underperform” rating and a $200.00 price target on the stock. Four equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $255.36.

Paycom Software Stock Down 1.7%

NYSE:PAYC traded down $4.10 during mid-day trading on Wednesday, reaching $233.22. The stock had a trading volume of 122,647 shares, compared to its average volume of 1,157,357. The stock has a market cap of $10.50 billion, a P/E ratio of 22.31, a PEG ratio of 1.26 and a beta of 0.75. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.06 and a quick ratio of 1.06. The business’s 50 day moving average is $238.29 and its 200 day moving average is $166.73. Paycom Software has a fifty-two week low of $104.90 and a fifty-two week high of $275.22.

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 firm had revenue of $543.80 million during the quarter, compared to analysts’ expectations of $535.26 million. Paycom Software had a return on equity of 52.12% and a net margin of 23.28%. The company’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.94 earnings per share. As a group, sell-side analysts predict that Paycom Software will post 10.92 earnings per share for the current year.

Insider Activity at Paycom Software

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new position in Paycom Software in the second quarter worth approximately $632,460,000. Reinhart Partners LLC. lifted its holdings in shares of Paycom Software by 20.1% in the second quarter. Reinhart Partners LLC. now owns 1,219,906 shares of the software maker’s stock valued at $153,320,000 after purchasing an additional 204,191 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Paycom Software by 108.1% in the third quarter. Robeco Institutional Asset Management B.V. now owns 308,393 shares of the software maker’s stock valued at $67,122,000 after purchasing an additional 160,185 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Paycom Software by 10.1% in the first quarter. Dimensional Fund Advisors LP now owns 538,376 shares of the software maker’s stock valued at $65,435,000 after purchasing an additional 49,460 shares in the last quarter. Finally, Bank of New York Mellon Corp bought a new position in shares of Paycom Software in the second quarter valued at approximately $42,858,000. Institutional investors own 87.77% of the company’s stock.

About Paycom Software

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.