Barclays Lowers Paycom Software (NYSE:PAYC) Price Target to $210.00

Paycom Software (NYSE:PAYC) had its price target dropped by investment analysts at Barclays from $225.00 to $210.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has an “equal weight” rating on the software maker’s stock. Barclays‘s target price points to a potential upside of 29.28% from the company’s current price.

A number of other equities research analysts also recently weighed in on PAYC. KeyCorp lowered their price objective on shares of Paycom Software from $290.00 to $250.00 and set an “overweight” rating for the company in a research report on Thursday. Weiss Ratings restated a “hold (c)” rating on shares of Paycom Software in a research note on Wednesday, October 8th. Guggenheim initiated coverage on Paycom Software in a report on Friday, September 26th. They set a “buy” rating and a $270.00 target price for the company. Jefferies Financial Group dropped their price target on Paycom Software from $250.00 to $225.00 and set a “hold” rating on the stock in a research report on Monday, October 13th. Finally, UBS Group cut their price target on Paycom Software from $310.00 to $285.00 and set a “buy” rating on the stock in a report on Wednesday, September 17th. Four investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Paycom Software currently has an average rating of “Hold” and a consensus price target of $225.77.

Paycom Software Trading Down 1.0%

NYSE PAYC traded down $1.57 on Thursday, hitting $162.44. 944,859 shares of the stock traded hands, compared to its average volume of 656,172. The stock has a 50-day moving average of $205.86 and a 200 day moving average of $226.18. Paycom Software has a twelve month low of $156.50 and a twelve month high of $267.76. The company has a market capitalization of $9.40 billion, a P/E ratio of 20.20, a price-to-earnings-growth ratio of 1.81 and a beta of 0.88.

Paycom Software (NYSE:PAYC) last issued its earnings results on Wednesday, November 5th. The software maker reported $1.94 EPS for the quarter, missing the consensus estimate of $1.96 by ($0.02). Paycom Software had a return on equity of 24.79% and a net margin of 22.65%.The firm had revenue of $493.30 million during the quarter, compared to analyst estimates of $492.62 million. During the same quarter in the previous year, the business posted $1.67 EPS. Paycom Software’s revenue was up 9.2% compared to the same quarter last year. Paycom Software has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that Paycom Software will post 7.15 earnings per share for the current year.

Insider Activity at Paycom Software

In related news, insider Bradley Scott Smith sold 1,500 shares of Paycom Software stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $223.27, for a total transaction of $334,905.00. Following the sale, the insider directly owned 24,533 shares in the company, valued at $5,477,482.91. The trade was a 5.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 10.90% of the company’s stock.

Hedge Funds Weigh In On Paycom Software

Several large investors have recently bought and sold shares of the stock. SouthState Corp acquired a new stake in shares of Paycom Software in the 1st quarter worth approximately $27,000. CYBER HORNET ETFs LLC acquired a new position in shares of Paycom Software during the second quarter valued at approximately $29,000. Steigerwald Gordon & Koch Inc. bought a new stake in Paycom Software during the third quarter worth approximately $31,000. MUFG Securities EMEA plc acquired a new stake in Paycom Software in the second quarter worth approximately $33,000. Finally, S Bank Fund Management Ltd acquired a new stake in Paycom Software in the first quarter worth approximately $37,000. Institutional investors and hedge funds 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.