Paycom Software (NYSE:PAYC - Get Free Report) had its price objective hoisted by equities researchers at JPMorgan Chase & Co. from $264.00 to $265.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has a "neutral" rating on the software maker's stock. JPMorgan Chase & Co.'s price target points to a potential upside of 12.29% from the company's previous close.
Several other analysts have also commented on the company. Wall Street Zen lowered Paycom Software from a "buy" rating to a "hold" rating in a research note on Sunday, September 6th. Citigroup boosted their price target on Paycom Software from $194.00 to $279.00 and gave the company a "neutral" rating in a research note on Tuesday, October 27th. Bank of America assumed coverage on Paycom Software in a research note on Tuesday, September 29th. They issued an "underperform" rating and a $200.00 price target on the stock. BTIG Research lowered Paycom Software from a "buy" rating to a "neutral" rating in a research note on Thursday. Finally, UBS Group boosted their price target on Paycom Software from $205.00 to $285.00 and gave the company a "buy" rating in a research note on Tuesday, September 1st. Four research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $255.36.
Read Our Latest Stock Analysis on Paycom Software
Paycom Software Stock Performance
Shares of PAYC traded down $1.32 on Thursday, reaching $236.00. 1,160,502 shares of the stock traded hands, compared to its average volume of 1,160,693. The firm has a market cap of $10.63 billion, a price-to-earnings ratio of 22.61, a P/E/G 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. Paycom Software has a 12 month low of $104.90 and a 12 month high of $275.22. The stock's 50-day moving average price is $238.29 and its 200-day moving average price is $166.73.
Paycom Software (NYSE:PAYC - Get Free Report) last released its quarterly earnings data on Wednesday, November 4th. The software maker reported $3.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.81 by $0.56. The business had revenue of $543.80 million for 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%. Paycom Software's quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.94 earnings per share. Equities analysts forecast that Paycom Software will post 10.92 EPS for the current fiscal year.
Insider Buying and Selling
In other Paycom Software news, insider Shane Hadlock sold 2,577 shares of Paycom Software stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $237.60, for a total transaction of $612,295.20. Following the transaction, the insider directly owned 70,152 shares of the company's stock, valued at approximately $16,668,115.20. The trade was a 3.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 13.20% of the company's stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. purchased a new stake in Paycom Software during the 2nd quarter valued at $632,460,000. Bank of New York Mellon Corp purchased a new stake in Paycom Software during the 2nd quarter valued at $42,858,000. Equity Investment Corp purchased a new stake in shares of Paycom Software in the 2nd quarter worth $37,085,000. Bank of America Corp DE purchased a new stake in shares of Paycom Software in the 2nd quarter worth $34,146,000. Finally, Reinhart Partners LLC. increased its stake in shares of Paycom Software by 20.1% in the 2nd quarter. Reinhart Partners LLC. now owns 1,219,906 shares of the software maker's stock worth $153,320,000 after purchasing an additional 204,191 shares in the last quarter. 87.77% of the stock is owned by institutional investors and hedge funds.
About Paycom Software
(
Get Free Report)
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.
See Also
Before you consider Paycom Software, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Paycom Software wasn't on the list.
While Paycom Software currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
The space race is growing fast, and you don’t have to have gotten in early on SpaceX to profit. This report shows seven space stocks you can buy today that may grow as rockets, satellites, defense, space internet, and new space technology become more important.
Get This Free Report
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Like this article? Share it with a colleague.
Link copied to clipboard.
