Paycom Software (NYSE:PAYC) Price Target Lowered to $184.00 at Barclays

Paycom Software (NYSE:PAYC) had its price target cut by research analysts at Barclays from $193.00 to $184.00 in a research note issued on Thursday, Benzinga reports. The firm currently has an “equal weight” rating on the software maker’s stock. Barclays‘s price objective indicates a potential upside of 11.04% from the company’s current price.

PAYC has been the topic of a number of other research reports. JPMorgan Chase & Co. lifted their price target on Paycom Software from $165.00 to $175.00 and gave the stock a “neutral” rating in a research note on Thursday. Citigroup decreased their price objective on Paycom Software from $205.00 to $198.00 and set a “neutral” rating for the company in a research report on Wednesday, January 31st. UBS Group raised their price objective on Paycom Software from $235.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, January 10th. Piper Sandler raised their price objective on Paycom Software from $185.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, February 8th. Finally, Jefferies Financial Group restated a “hold” rating and set a $195.00 price objective on shares of Paycom Software in a research report on Friday, January 5th. Seventeen equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $256.82.

Paycom Software Price Performance

Shares of PAYC traded down $20.53 during trading hours on Thursday, reaching $165.71. 1,889,458 shares of the company’s stock traded hands, compared to its average volume of 857,230. The firm has a market capitalization of $9.54 billion, a price-to-earnings ratio of 27.85, a P/E/G ratio of 3.21 and a beta of 1.17. Paycom Software has a twelve month low of $146.15 and a twelve month high of $374.04. The business’s fifty day simple moving average is $189.91 and its two-hundred day simple moving average is $195.35.

Paycom Software (NYSE:PAYC) last released its earnings results on Wednesday, February 7th. The software maker reported $1.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.78 by $0.15. The firm had revenue of $434.60 million for the quarter, compared to analyst estimates of $422.50 million. Paycom Software had a return on equity of 24.60% and a net margin of 20.12%. Paycom Software’s revenue was up 17.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.38 earnings per share. On average, equities research analysts expect that Paycom Software will post 5.73 EPS for the current year.

Institutional Trading of Paycom Software

Large investors have recently made changes to their positions in the business. Mather Group LLC. purchased a new stake in Paycom Software in the 1st quarter valued at about $26,000. Hexagon Capital Partners LLC grew its stake in Paycom Software by 333.3% in the fourth quarter. Hexagon Capital Partners LLC now owns 130 shares of the software maker’s stock worth $27,000 after purchasing an additional 100 shares in the last quarter. Palisade Asset Management LLC bought a new stake in Paycom Software during the 1st quarter valued at $32,000. Cary Street Partners Investment Advisory LLC lifted its holdings in shares of Paycom Software by 83.5% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 156 shares of the software maker’s stock worth $40,000 after buying an additional 71 shares during the period. Finally, Transcendent Capital Group LLC purchased a new position in shares of Paycom Software during the fourth quarter valued at $41,000. 87.77% of the stock is currently owned by institutional investors.

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.