Paycom Software, Inc. (NYSE:PAYC)‘s stock had its “buy” rating reissued by investment analysts at Stifel Nicolaus in a research note issued on Friday. They currently have a $85.00 price objective on the software maker’s stock. Stifel Nicolaus’ target price would indicate a potential upside of 5.87% from the company’s current price.

Several other analysts also recently weighed in on the company. Zacks Investment Research raised Paycom Software from a “hold” rating to a “buy” rating and set a $87.00 target price for the company in a report on Friday. Barclays PLC boosted their target price on Paycom Software from $82.00 to $87.00 and gave the company an “overweight” rating in a report on Wednesday. Oppenheimer Holdings, Inc. restated a “buy” rating and issued a $88.00 price target (up previously from $75.00) on shares of Paycom Software in a research report on Wednesday. J P Morgan Chase & Co boosted their price target on Paycom Software from $67.00 to $75.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Wells Fargo & Company set a $89.00 price target on Paycom Software and gave the company a “buy” rating in a research report on Wednesday. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $82.94.

Paycom Software (PAYC) traded up $2.99 during trading on Friday, hitting $80.29. The stock had a trading volume of 411,277 shares, compared to its average volume of 504,069. The firm has a market capitalization of $4,618.60, a PE ratio of 74.08 and a beta of 1.73.

Paycom Software (NYSE:PAYC) last posted its earnings results on Tuesday, October 31st. The software maker reported $0.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.10. Paycom Software had a return on equity of 46.01% and a net margin of 15.37%. The business had revenue of $101.30 million during the quarter, compared to the consensus estimate of $100.47 million. During the same period in the previous year, the business earned $0.15 EPS. The business’s quarterly revenue was up 31.0% on a year-over-year basis. research analysts anticipate that Paycom Software will post 0.79 earnings per share for the current fiscal year.

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In related news, insider Stacey M. Pezold sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $75.02, for a total value of $750,200.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Jeffrey D. York sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $74.81, for a total value of $2,992,400.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 61,000 shares of company stock worth $4,564,520. Insiders own 17.90% of the company’s stock.

A number of hedge funds have recently bought and sold shares of PAYC. UBS Asset Management Americas Inc. lifted its stake in Paycom Software by 47.6% in the 1st quarter. UBS Asset Management Americas Inc. now owns 24,424 shares of the software maker’s stock valued at $1,405,000 after buying an additional 7,881 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of Paycom Software by 2.0% during the 1st quarter. Principal Financial Group Inc. now owns 37,612 shares of the software maker’s stock worth $2,163,000 after purchasing an additional 744 shares during the period. Teachers Advisors LLC lifted its stake in shares of Paycom Software by 4.3% during the 1st quarter. Teachers Advisors LLC now owns 75,553 shares of the software maker’s stock worth $4,345,000 after purchasing an additional 3,088 shares during the period. Vanguard Group Inc. lifted its stake in shares of Paycom Software by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 3,491,526 shares of the software maker’s stock worth $200,798,000 after purchasing an additional 120,345 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Paycom Software by 4.1% during the 1st quarter. Geode Capital Management LLC now owns 336,814 shares of the software maker’s stock worth $19,370,000 after purchasing an additional 13,368 shares during the period. 86.42% of the stock is currently owned by hedge funds and other institutional investors.

About Paycom Software

Paycom Software, Inc is a provider of a cloud-based human capital management (HCM) software solution delivered as Software-as-a-Service (SaaS). The Company provides functionality and data analytics that businesses need to manage the complete employment life cycle from recruitment to retirement. The Company’s applications streamline client processes and provide clients and their employees with the ability to directly access and manage administrative processes, including applications that identify candidates, on-board employees, manage time and labor, administer payroll deductions and benefits, manage performance, terminate employees and administer post-termination health benefits, such as COBRA.

Analyst Recommendations for Paycom Software (NYSE:PAYC)

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