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

Paycom Software (NYSE:PAYC) had its price objective lifted by investment analysts at TD Cowen from $171.00 to $188.00 in a report issued on Monday, Benzinga reports. The brokerage presently has a “hold” rating on the software maker’s stock. TD Cowen’s target price would suggest a potential upside of 8.22% from the company’s current price.

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

Paycom Software Trading Up 0.7 %

Shares of NYSE:PAYC opened at $173.72 on Monday. The company has a market cap of $10.09 billion, a price-to-earnings ratio of 21.16, a PEG ratio of 2.39 and a beta of 1.17. Paycom Software has a 12 month low of $139.50 and a 12 month high of $279.96. The company has a 50-day moving average price of $162.68 and a 200 day moving average price of $168.07.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings data 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, equities analysts forecast that Paycom Software will post 6.67 EPS for the current year.

Insider Buying and Selling

In other news, CFO Craig E. Boelte sold 11,882 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $155.98, for a total value of $1,853,354.36. Following the completion of the sale, the chief financial officer now owns 294,849 shares of the company’s stock, valued at approximately $45,990,547.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other 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 value of $240,212.88. Following the completion of the transaction, the insider now directly owns 14,769 shares of the company’s stock, valued at approximately $2,327,889.78. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Craig E. Boelte sold 11,882 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $155.98, for a total value of $1,853,354.36. Following the sale, the chief financial officer now owns 294,849 shares of the company’s stock, valued at $45,990,547.02. The disclosure for this sale can be found here. Insiders sold a total of 73,856 shares of company stock valued at $11,641,723 over the last three months. 14.50% of the stock is owned by company insiders.

Hedge Funds Weigh In On Paycom Software

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Paycom Software by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 5,936,910 shares of the software maker’s stock worth $1,227,278,000 after acquiring an additional 137,583 shares in the last quarter. Sylebra Capital LLC grew its holdings in Paycom Software by 53.9% in the second quarter. Sylebra Capital LLC now owns 1,957,468 shares of the software maker’s stock worth $279,996,000 after purchasing an additional 685,190 shares during the last quarter. Brown Capital Management LLC lifted its holdings in shares of Paycom Software by 10.1% during the 4th quarter. Brown Capital Management LLC now owns 1,106,045 shares of the software maker’s stock valued at $228,642,000 after purchasing an additional 101,744 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its holdings in shares of Paycom Software by 9.4% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,069,104 shares of the software maker’s stock valued at $152,925,000 after purchasing an additional 92,049 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of Paycom Software by 14.5% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 626,646 shares of the software maker’s stock valued at $124,709,000 after purchasing an additional 79,299 shares during the last quarter. 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.