Paycom Software (NYSE:PAYC) PT Lowered to $162.00

Paycom Software (NYSE:PAYC) had its target price decreased by equities research analysts at Citigroup from $193.00 to $162.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has a “neutral” rating on the software maker’s stock. Citigroup’s price objective would indicate a potential upside of 14.52% from the company’s previous close.

A number of other research analysts have also recently weighed in on PAYC. Mizuho lowered their price objective on Paycom Software from $185.00 to $170.00 and set a “neutral” rating on the stock in a research report on Monday, May 6th. Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a research report on Thursday, May 2nd. Barclays dropped their price target on Paycom Software from $193.00 to $184.00 and set an “equal weight” rating for the company in a research note on Thursday, May 2nd. William Blair reiterated a “market perform” rating on shares of Paycom Software in a research report on Thursday, May 2nd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Paycom Software from $165.00 to $175.00 and gave the company a “neutral” rating in a research report on Thursday, May 2nd. Sixteen equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $244.38.

Paycom Software Stock Performance

Shares of NYSE:PAYC opened at $141.46 on Tuesday. Paycom Software has a 52-week low of $140.12 and a 52-week high of $374.04. The stock has a market capitalization of $8.22 billion, a price-to-earnings ratio of 17.23, a PEG ratio of 2.20 and a beta of 1.17. The stock’s 50-day simple moving average is $170.10 and its two-hundred day simple moving average is $185.58.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings data on Wednesday, May 1st. The software maker reported $4.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.96 by $2.29. Paycom Software had a return on equity of 32.84% and a net margin of 26.91%. The firm had revenue of $499.88 million for the quarter, compared to analysts’ expectations of $495.89 million. As a group, equities analysts forecast that Paycom Software will post 6.26 earnings per share for the current fiscal year.

Insider Activity at Paycom Software

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction on Friday, May 17th. The shares were sold at an average price of $180.82, for a total transaction of $352,599.00. Following the completion of the transaction, the chief executive officer now directly owns 3,091,958 shares of the company’s stock, valued at $559,087,845.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction on Friday, May 17th. The shares were sold at an average price of $180.82, for a total transaction of $352,599.00. Following the completion of the transaction, the chief executive officer now directly owns 3,091,958 shares of the company’s stock, valued at $559,087,845.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Amy Vickroy sold 1,381 shares of Paycom Software stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $143.39, for a total transaction of $198,021.59. Following the transaction, the executive vice president now directly owns 19,962 shares of the company’s stock, valued at $2,862,351.18. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,787 shares of company stock valued at $3,430,426. 12.60% of the stock is owned by corporate insiders.

Institutional Trading of Paycom Software

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Paycom Software by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 5,936,910 shares of the software maker’s stock valued at $1,227,278,000 after purchasing an additional 137,583 shares during the period. Sylebra Capital LLC purchased a new stake in shares of Paycom Software during the first quarter valued at $253,196,000. American Century Companies Inc. boosted its stake in shares of Paycom Software by 18.8% during the third quarter. American Century Companies Inc. now owns 1,139,511 shares of the software maker’s stock valued at $295,441,000 after purchasing an additional 180,202 shares during the period. Brown Capital Management LLC boosted its stake in shares of Paycom Software by 10.1% during the fourth quarter. Brown Capital Management LLC now owns 1,106,045 shares of the software maker’s stock valued at $228,642,000 after purchasing an additional 101,744 shares during the period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its stake in shares of Paycom Software by 7.9% during the first quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 977,055 shares of the software maker’s stock valued at $182,426,000 after purchasing an additional 71,272 shares during the period. 87.77% of the stock is owned by hedge funds and other institutional investors.

About Paycom Software

Paycom Software, Inc provides cloud-based human capital management (HCM) solution delivered as software-as-a-service for small to mid-sized companies in the United States. It offers functionality and data analytics that businesses need to manage the employment life cycle from recruitment to retirement.