Paycom Software (NYSE:PAYC) Given New $154.00 Price Target at Barclays

Key Points

• Barclays raised its price target on Paycom Software from $148 to $154 while keeping an equal weight rating. The new target implies about 3.66% upside from the prior close.
• Analyst sentiment remains mixed but moderately positive overall, with a consensus rating of Moderate Buy and an average target price of $159.75.
• Paycom’s latest earnings beat expectations, reporting $3.15 EPS on revenue of $571.8 million, both above estimates. The stock traded down 0.8% to $148.56 in Tuesday trading despite the upbeat results.

Paycom Software (NYSE:PAYC - Get Free Report) had its price target upped by investment analysts at Barclays from $148.00 to $154.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an "equal weight" rating on the software maker's stock. Barclays's target price suggests a potential upside of 3.66% from the stock's previous close.

Other equities analysts have also issued research reports about the stock. Weiss Ratings raised shares of Paycom Software from a "sell (d+)" rating to a "hold (c-)" rating in a report on Thursday. TD Cowen reduced their target price on shares of Paycom Software from $154.00 to $149.00 and set a "buy" rating on the stock in a research report on Friday, June 26th. Mizuho lifted their price objective on shares of Paycom Software from $120.00 to $130.00 and gave the company a "neutral" rating in a research note on Thursday, May 7th. Citigroup boosted their price target on shares of Paycom Software from $120.00 to $136.00 and gave the company a "neutral" rating in a research report on Thursday, May 7th. Finally, BMO Capital Markets upped their price target on Paycom Software from $137.00 to $145.00 and gave the company a "market perform" rating in a report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Paycom Software presently has a consensus rating of "Moderate Buy" and an average target price of $159.75.

Paycom Software Trading Down 0.8%

PAYC stock traded down $1.15 during mid-day trading on Tuesday, reaching $148.56. The company's stock had a trading volume of 45,077 shares, compared to its average volume of 1,374,904. The business's 50 day moving average price is $136.19 and its 200 day moving average price is $133.51. Paycom Software has a 12 month low of $104.90 and a 12 month high of $248.95. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.83. The company has a market cap of $7.08 billion, a price-to-earnings ratio of 17.19, a price-to-earnings-growth ratio of 1.26 and a beta of 0.80.

Paycom Software (NYSE:PAYC - Get Free Report) last posted its earnings results on Wednesday, May 6th. The software maker reported $3.15 EPS for the quarter, topping the consensus estimate of $2.99 by $0.16. The company had revenue of $571.80 million during the quarter, compared to the consensus estimate of $564.37 million. Paycom Software had a net margin of 22.44% and a return on equity of 28.34%. The firm's revenue for the quarter was up 7.8% on a year-over-year basis. During the same period in the previous year, the firm posted $2.80 earnings per share. On average, equities research analysts predict that Paycom Software will post 9.32 EPS for the current year.

Institutional Trading of Paycom Software

Several institutional investors have recently bought and sold shares of PAYC. Fulton Bank N.A. boosted its stake in Paycom Software by 7.8% in the second quarter. Fulton Bank N.A. now owns 2,070 shares of the software maker's stock valued at $260,000 after acquiring an additional 149 shares during the last quarter. Fluent Financial LLC bought a new position in Paycom Software during the 2nd quarter worth $2,439,000. Legacy Wealth Asset Management LLC increased its stake in shares of Paycom Software by 25.4% in the 2nd quarter. Legacy Wealth Asset Management LLC now owns 7,277 shares of the software maker's stock valued at $915,000 after purchasing an additional 1,475 shares during the last quarter. Valeo Financial Advisors LLC increased its stake in shares of Paycom Software by 17.6% in the second quarter. Valeo Financial Advisors LLC now owns 2,049 shares of the software maker's stock valued at $258,000 after buying an additional 306 shares during the period. Finally, Reinhart Partners LLC. raised its position in shares of Paycom Software by 20.1% during the second quarter. Reinhart Partners LLC. now owns 1,219,906 shares of the software maker's stock worth $153,320,000 after acquiring an additional 204,191 shares during the last quarter. Institutional investors and hedge funds 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.

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