Paycom Software (NYSE:PAYC) Price Target Raised to $196.00 at Citigroup

Paycom Software (NYSE:PAYC) had its price objective increased by research analysts at Citigroup from $172.00 to $196.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the software maker’s stock. Citigroup’s target price indicates a potential downside of 6.95% from the company’s current price.

PAYC has been the subject of several other research reports. Barclays boosted their price target on shares of Paycom Software from $172.00 to $181.00 and gave the company an “equal weight” rating in a report on Thursday. BMO Capital Markets boosted their target price on shares of Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a research note on Thursday. TD Cowen raised their price target on shares of Paycom Software from $171.00 to $188.00 and gave the company a “hold” rating in a research note on Monday, September 23rd. Piper Sandler boosted their price objective on Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, Jefferies Financial Group increased their price objective on Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a report on Thursday. Thirteen equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $190.80.

Paycom Software Stock Up 0.8 %

Shares of NYSE PAYC opened at $210.65 on Thursday. The firm’s 50-day moving average price is $167.57 and its two-hundred day moving average price is $163.35. Paycom Software has a 52-week low of $139.50 and a 52-week high of $222.30. The stock has a market capitalization of $12.10 billion, a P/E ratio of 25.35, a P/E/G ratio of 2.45 and a beta of 1.17.

Paycom Software (NYSE:PAYC) last released its quarterly earnings data on Wednesday, July 31st. The software maker reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 33.34% and a net margin of 25.78%. As a group, equities research analysts expect that Paycom Software will post 6.64 earnings per share for the current year.

Insider Activity

In related news, insider Bradley Scott Smith sold 1,524 shares of the business’s 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 sale, the insider now directly owns 14,769 shares in the company, valued at $2,327,889.78. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Paycom Software 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 transaction, the insider now owns 14,769 shares in the company, valued at approximately $2,327,889.78. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $158.31, for a total value of $308,704.50. Following the completion of the transaction, the chief executive officer now directly owns 2,984,708 shares in the company, valued at $472,509,123.48. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 71,906 shares of company stock worth $11,731,540. Corporate insiders own 14.50% of the company’s stock.

Hedge Funds Weigh In On Paycom Software

A number of institutional investors have recently bought and sold shares of the stock. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Paycom Software by 29.4% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 64,560 shares of the software maker’s stock worth $12,848,000 after purchasing an additional 14,670 shares in the last quarter. Janney Montgomery Scott LLC boosted its position 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 period. Sylebra Capital LLC purchased a new position in shares of Paycom Software during the first quarter valued at $253,196,000. Profund Advisors LLC acquired a new position in Paycom Software during the second quarter valued at $589,000. Finally, BOKF NA lifted its stake in Paycom Software by 453.0% in the 1st quarter. BOKF NA now owns 9,219 shares of the software maker’s stock worth $1,828,000 after acquiring an additional 7,552 shares in the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Paycom Software Company Profile

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.