Piper Sandler Forecasts Strong Price Appreciation for Paycom Software (NYSE:PAYC) Stock

Paycom Software (NYSE:PAYC) had its price target boosted by stock analysts at Piper Sandler from $191.00 to $224.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “neutral” rating on the software maker’s stock. Piper Sandler’s price target points to a potential upside of 6.81% from the stock’s current price.

A number of other analysts also recently commented on PAYC. BMO Capital Markets increased their price objective on shares of Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a report on Thursday, October 31st. Jefferies Financial Group lifted their price objective on shares of Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. StockNews.com raised shares of Paycom Software from a “hold” rating to a “buy” rating in a research report on Friday, January 31st. Stifel Nicolaus dropped their target price on shares of Paycom Software from $215.00 to $187.00 and set a “hold” rating on the stock in a research report on Thursday. Finally, Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a research report on Thursday. Eleven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $209.22.

Paycom Software Trading Down 1.1 %

NYSE PAYC opened at $209.72 on Friday. The company’s fifty day simple moving average is $210.30 and its 200-day simple moving average is $192.02. Paycom Software has a 52 week low of $139.50 and a 52 week high of $242.74. The stock has a market cap of $12.09 billion, a P/E ratio of 25.24, a PEG ratio of 2.81 and a beta of 1.15.

Paycom Software (NYSE:PAYC) last released its earnings results on Wednesday, February 12th. The software maker reported $2.02 earnings per share for the quarter, beating analysts’ consensus estimates of $1.99 by $0.03. Paycom Software had a return on equity of 32.90% and a net margin of 25.78%. On average, research analysts expect that Paycom Software will post 6.88 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in PAYC. Private Trust Co. NA grew its position in Paycom Software by 9.3% in the fourth quarter. Private Trust Co. NA now owns 575 shares of the software maker’s stock valued at $118,000 after acquiring an additional 49 shares during the last quarter. Oppenheimer & Co. Inc. grew its position in Paycom Software by 1.8% in the fourth quarter. Oppenheimer & Co. Inc. now owns 2,939 shares of the software maker’s stock valued at $602,000 after acquiring an additional 51 shares during the last quarter. Wrapmanager Inc. boosted its stake in shares of Paycom Software by 2.6% during the third quarter. Wrapmanager Inc. now owns 2,176 shares of the software maker’s stock valued at $362,000 after purchasing an additional 56 shares in the last quarter. Andina Capital Management LLC boosted its stake in shares of Paycom Software by 4.0% during the third quarter. Andina Capital Management LLC now owns 1,651 shares of the software maker’s stock valued at $275,000 after purchasing an additional 63 shares in the last quarter. Finally, Michael S. Ryan Inc. boosted its stake in shares of Paycom Software by 2.5% during the fourth quarter. Michael S. Ryan Inc. now owns 2,796 shares of the software maker’s stock valued at $573,000 after purchasing an additional 68 shares in the last quarter. Institutional investors own 87.77% of the company’s stock.

About Paycom Software

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.