Paycom Software (NYSE:PAYC) Given New $264.00 Price Target at JPMorgan Chase & Co.

Key Points

• JPMorgan raised Paycom Software’s price target to $264 from $140 while maintaining a “neutral” rating, implying approximately 14.9% upside from the prior close.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and average price target of $208.08; recent targets range from $195 to $270.
• Paycom exceeded quarterly expectations, reporting $2.78 in earnings per share versus $2.38 expected and revenue of $531.2 million, up 9.8% year over year.

Paycom Software (NYSE:PAYC - Get Free Report) had its price objective upped by equities research analysts at JPMorgan Chase & Co. from $140.00 to $264.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a "neutral" rating on the software maker's stock. JPMorgan Chase & Co.'s target price would suggest a potential upside of 14.92% from the company's previous close.

PAYC has been the topic of several other research reports. KeyCorp upped their price target on Paycom Software from $195.00 to $270.00 and gave the company an "overweight" rating in a research note on Thursday, August 6th. TD Cowen raised their target price on shares of Paycom Software from $149.00 to $244.00 and gave the company a "buy" rating in a research note on Thursday, August 6th. Cantor Fitzgerald increased their price objective on shares of Paycom Software from $135.00 to $195.00 and gave the company a "neutral" rating in a report on Thursday, August 6th. Guggenheim lifted their target price on shares of Paycom Software from $180.00 to $225.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Finally, Weiss Ratings upgraded shares of Paycom Software from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, Paycom Software presently has a consensus rating of "Hold" and an average price target of $208.08.

Paycom Software Trading Up 0.3%

Shares of PAYC opened at $229.72 on Tuesday. The company has a debt-to-equity ratio of 1.57, a quick ratio of 1.07 and a current ratio of 1.07. The company has a market cap of $10.35 billion, a price-to-earnings ratio of 24.41, a PEG ratio of 1.29 and a beta of 0.75. The stock has a fifty day moving average price of $162.48 and a two-hundred day moving average price of $140.64. Paycom Software has a 52-week low of $104.90 and a 52-week high of $234.60.

Paycom Software (NYSE:PAYC - Get Free Report) last announced its earnings results on Wednesday, August 5th. The software maker reported $2.78 EPS for the quarter, topping the consensus estimate of $2.38 by $0.40. The company had revenue of $531.20 million for the quarter, compared to analysts' expectations of $513.12 million. Paycom Software had a return on equity of 37.06% and a net margin of 22.78%.The business's revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.06 earnings per share. Analysts predict that Paycom Software will post 10.48 EPS for the current fiscal year.

Hedge Funds Weigh In On Paycom Software

Large investors have recently added to or reduced their stakes in the company. Fluent Financial LLC bought a new stake in Paycom Software in the 2nd quarter valued at about $2,439,000. Principal Financial Group Inc. boosted its holdings in Paycom Software by 290.5% in the first quarter. Principal Financial Group Inc. now owns 243,762 shares of the software maker's stock worth $29,627,000 after acquiring an additional 181,346 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in Paycom Software by 1,151.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 170,854 shares of the software maker's stock valued at $27,227,000 after acquiring an additional 157,201 shares during the period. Vest Financial LLC grew its stake in Paycom Software by 32.6% in the fourth quarter. Vest Financial LLC now owns 163,012 shares of the software maker's stock valued at $25,978,000 after acquiring an additional 40,108 shares during the period. Finally, Janus Henderson Group PLC increased its holdings in shares of Paycom Software by 467.2% during the first quarter. Janus Henderson Group PLC now owns 23,200 shares of the software maker's stock valued at $2,819,000 after acquiring an additional 19,110 shares in the last quarter. Institutional investors own 87.77% of the company's stock.

Paycom Software Company Profile

Paycom Software, Inc NYSE: PAYC is a cloud-based human capital management (HCM) software provider that delivers an end-to-end solution for human resources, payroll, talent acquisition, time and labor management, and talent management. Its single-database platform enables organizations to process payroll, track time, administer benefits, and manage recruiting and employee development through a unified system. Paycom's software is designed to streamline administrative tasks, improve data accuracy, and provide real-time reporting and analytics to support strategic HR decisions.

The company's core offerings include payroll processing with built-in tax compliance, employee self-service functionality, automated time tracking, and customizable talent acquisition tools that allow employers to create and post job requisitions, screen candidates, and conduct onboarding electronically.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source