TD Cowen Increases Paycom Software (NYSE:PAYC) Price Target to $188.00

Paycom Software (NYSE:PAYC) had its price objective hoisted by analysts at TD Cowen from $171.00 to $188.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has a “hold” rating on the software maker’s stock. TD Cowen’s price objective suggests a potential upside of 9.28% from the stock’s current price.

Several other equities analysts also recently commented on PAYC. Barclays upped their price objective on Paycom Software from $161.00 to $167.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Jefferies Financial Group lowered their price objective on shares of Paycom Software from $170.00 to $145.00 and set a “hold” rating for the company in a research report on Monday, June 24th. Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a research report on Thursday, August 1st. Citigroup lowered their price target on Paycom Software from $193.00 to $162.00 and set a “neutral” rating for the company in a report on Tuesday, June 18th. Finally, StockNews.com cut Paycom Software from a “buy” rating to a “hold” rating in a research note on Monday, July 15th. Seventeen equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $179.75.

Paycom Software Stock Up 1.1 %

NYSE PAYC traded up $1.79 during trading on Monday, hitting $172.03. 144,421 shares of the stock traded hands, compared to its average volume of 844,034. Paycom Software has a 12-month low of $139.50 and a 12-month high of $279.96. The firm has a 50-day simple moving average of $162.09 and a 200-day simple moving average of $168.19. The company has a market capitalization of $10.00 billion, a P/E ratio of 20.84, a price-to-earnings-growth ratio of 2.39 and a beta of 1.17.

Paycom Software (NYSE:PAYC) last announced its earnings results on Wednesday, July 31st. The software maker reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.07. The business had revenue of $437.51 million during the quarter, compared to analyst estimates of $436.19 million. Paycom Software had a return on equity of 33.36% and a net margin of 26.55%. As a group, research analysts predict that Paycom Software will post 6.67 EPS for the current fiscal year.

Insider Activity

In related news, insider Bradley Scott Smith sold 1,524 shares of the business’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $157.62, for a total transaction of $240,212.88. Following the transaction, the insider now directly owns 14,769 shares in the company, valued at approximately $2,327,889.78. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider Bradley Scott Smith sold 1,524 shares of Paycom Software stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $157.62, for a total value of $240,212.88. Following the completion of the sale, the insider now directly owns 14,769 shares in the company, valued at approximately $2,327,889.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $140.46, for a total transaction of $273,897.00. Following the completion of the transaction, the chief executive officer now directly owns 3,041,258 shares of the company’s stock, valued at approximately $427,175,098.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 71,906 shares of company stock worth $11,248,427. Insiders own 14.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. ARK & TLK Investments LLC purchased a new position in shares of Paycom Software during the fourth quarter worth $2,260,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Paycom Software by 29.4% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 64,560 shares of the software maker’s stock valued at $12,848,000 after buying an additional 14,670 shares during the period. Janney Montgomery Scott LLC boosted its stake in shares of Paycom Software by 17.7% in the first quarter. Janney Montgomery Scott LLC now owns 59,242 shares of the software maker’s stock worth $11,790,000 after buying an additional 8,927 shares during the last quarter. Norges Bank acquired a new stake in Paycom Software during the fourth quarter worth about $6,670,000. Finally, Sylebra Capital LLC purchased a new position in Paycom Software during the first quarter valued at approximately $253,196,000. 87.77% of the stock is currently 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.