Piper Sandler Lowers Paycom Software (NYSE:PAYC) Price Target to $498.00

Paycom Software (NYSE:PAYC) had its price target lowered by investment analysts at Piper Sandler from $622.00 to $498.00 in a report released on Thursday, The Fly reports. The firm currently has an “overweight” rating on the software maker’s stock. Piper Sandler’s price target would suggest a potential upside of 49.11% from the stock’s current price. Piper Sandler also issued estimates for Paycom Software’s FY2022 earnings at $4.31 EPS.

A number of other equities analysts also recently issued reports on PAYC. Zacks Investment Research downgraded shares of Paycom Software from a “strong-buy” rating to a “hold” rating and set a $519.00 price objective on the stock. in a report on Tuesday, October 5th. Needham & Company LLC lifted their price objective on shares of Paycom Software from $495.00 to $640.00 and gave the stock a “buy” rating in a report on Wednesday, November 3rd. Barclays cut their price objective on shares of Paycom Software from $565.00 to $392.00 in a report on Wednesday. Wolfe Research lifted their target price on Paycom Software from $450.00 to $550.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 3rd. Finally, KeyCorp lifted their target price on Paycom Software from $475.00 to $575.00 and gave the stock an “overweight” rating in a research note on Thursday, November 4th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $512.86.

PAYC opened at $333.99 on Thursday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.07 and a quick ratio of 1.07. The company has a market capitalization of $20.05 billion, a price-to-earnings ratio of 113.22, a P/E/G ratio of 3.43 and a beta of 1.45. The firm’s fifty day moving average price is $425.58 and its two-hundred day moving average price is $451.06. Paycom Software has a 1 year low of $302.44 and a 1 year high of $558.97.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings data on Tuesday, November 2nd. The software maker reported $0.92 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.32. The firm had revenue of $256.19 million for the quarter, compared to the consensus estimate of $250.26 million. Paycom Software had a net margin of 17.31% and a return on equity of 22.57%. During the same period in the previous year, the firm earned $0.47 EPS. As a group, equities analysts anticipate that Paycom Software will post 3.16 EPS for the current year.

A number of institutional investors have recently made changes to their positions in the stock. Corient Capital Partners LLC raised its stake in Paycom Software by 3.9% in the 3rd quarter. Corient Capital Partners LLC now owns 579 shares of the software maker’s stock valued at $287,000 after acquiring an additional 22 shares during the period. Allworth Financial LP increased its position in shares of Paycom Software by 59.0% during the third quarter. Allworth Financial LP now owns 62 shares of the software maker’s stock valued at $31,000 after buying an additional 23 shares during the period. HM Payson & Co. increased its position in shares of Paycom Software by 7.3% during the third quarter. HM Payson & Co. now owns 340 shares of the software maker’s stock valued at $169,000 after buying an additional 23 shares during the period. IFP Advisors Inc increased its position in shares of Paycom Software by 17.4% during the fourth quarter. IFP Advisors Inc now owns 196 shares of the software maker’s stock valued at $81,000 after buying an additional 29 shares during the period. Finally, IFM Investors Pty Ltd increased its position in shares of Paycom Software by 0.4% during the third quarter. IFM Investors Pty Ltd now owns 7,217 shares of the software maker’s stock valued at $3,578,000 after buying an additional 31 shares during the period. Institutional investors and hedge funds own 72.78% of the company’s stock.

Paycom Software Company Profile

Paycom Software, Inc provides comprehensive, cloud-based human capital management (HCM) software solutions delivered as Software-as-a-Service. It provides functionality and data analytics that businesses need to manage the complete employment life cycle from recruitment to retirement. Its solutions requires virtually no customization and is based on a core system of record maintained in a single database for all HCM functions, including talent acquisition, time and labor management, payroll, talent management and human resources management applications.

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