Paycom Software (NYSE:PAYC) Price Target Raised to $197.00 at BMO Capital Markets

Paycom Software (NYSE:PAYC) had its target price hoisted by BMO Capital Markets from $183.00 to $197.00 in a report released on Thursday, Benzinga reports. The firm presently has a “market perform” rating on the software maker’s stock. BMO Capital Markets’ price objective would indicate a potential downside of 6.48% from the company’s current price.

Several other equities analysts have also recently weighed in on PAYC. Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a research note on Thursday, August 1st. Jefferies Financial Group raised their price objective on Paycom Software from $155.00 to $170.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Barclays raised their price target on Paycom Software from $167.00 to $172.00 and gave the company an “equal weight” rating in a report on Friday, October 11th. TD Cowen increased their target price on Paycom Software from $171.00 to $188.00 and gave the company a “hold” rating in a research report on Monday, September 23rd. Finally, Piper Sandler boosted their price target on shares of Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a research report on Thursday. Thirteen investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $190.80.

Paycom Software Stock Up 0.8 %

NYSE PAYC opened at $210.65 on Thursday. The business has a 50-day moving average price of $167.57 and a 200-day moving average price of $163.35. The firm has a market cap of $12.10 billion, a price-to-earnings ratio of 25.35, a price-to-earnings-growth ratio of 2.45 and a beta of 1.17. Paycom Software has a twelve month low of $139.50 and a twelve month high of $222.30.

Paycom Software (NYSE:PAYC) last announced 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. Paycom Software had a net margin of 25.78% and a return on equity of 33.34%. The business had revenue of $437.51 million during the quarter, compared to analyst estimates of $436.19 million. Research analysts expect that Paycom Software will post 6.64 EPS for the current fiscal year.

Insider Buying and Selling at Paycom Software

In related news, CEO Chad R. Richison sold 1,950 shares of the business’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $155.63, for a total transaction of $303,478.50. Following the completion of the transaction, the chief executive officer now owns 2,978,858 shares in the company, valued at $463,599,670.54. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Paycom Software news, insider Bradley Scott Smith sold 1,524 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $157.62, for a total value of $240,212.88. Following the completion of the sale, the insider now directly owns 14,769 shares of the company’s stock, valued at $2,327,889.78. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $155.63, for a total transaction of $303,478.50. Following the completion of the transaction, the chief executive officer now owns 2,978,858 shares in the company, valued at $463,599,670.54. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 71,906 shares of company stock worth $11,731,540 over the last 90 days. Company insiders own 14.50% of the company’s stock.

Institutional Trading of Paycom Software

Large investors have recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Paycom Software by 29.4% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 64,560 shares of the software maker’s stock valued at $12,848,000 after buying an additional 14,670 shares during the period. Janney Montgomery Scott LLC lifted its holdings in Paycom Software by 17.7% during 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 bought a new stake in Paycom Software during the 1st quarter valued at $253,196,000. Profund Advisors LLC purchased a new position in shares of Paycom Software in the 2nd quarter valued at $589,000. Finally, BOKF NA raised its position in shares of 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.