Paycom Software (NYSE:PAYC) Stock Price Expected to Rise, Piper Sandler Analyst Says

Paycom Software (NYSE:PAYC) had its price objective boosted by equities researchers at Piper Sandler from $160.00 to $191.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the software maker’s stock. Piper Sandler’s target price points to a potential downside of 9.33% from the company’s previous close.

Other research analysts have also recently issued reports about the stock. StockNews.com cut shares of Paycom Software from a “buy” rating to a “hold” rating in a report on Monday, July 15th. Jefferies Financial Group increased their target price on shares of Paycom Software from $155.00 to $170.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Barclays increased their target price on shares of Paycom Software from $167.00 to $172.00 and gave the company an “equal weight” rating in a report on Friday, October 11th. Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a research note on Thursday, August 1st. Finally, TD Cowen raised their price objective on shares of Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a research note on Monday, September 23rd. Thirteen investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, Paycom Software presently has a consensus rating of “Hold” and an average target price of $190.80.

Paycom Software Stock Performance

Shares of PAYC opened at $210.65 on Thursday. Paycom Software has a fifty-two week low of $139.50 and a fifty-two week high of $222.30. The company has a market capitalization 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. The firm has a 50-day simple moving average of $167.57 and a 200-day simple moving average of $163.35.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings results on Wednesday, July 31st. The software maker reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.07. The firm had revenue of $437.51 million during the quarter, compared to analysts’ expectations of $436.19 million. Paycom Software had a net margin of 25.78% and a return on equity of 33.34%. Equities research analysts forecast that Paycom Software will post 6.64 EPS for the current year.

Insider Activity at Paycom Software

In related news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $172.43, for a total transaction of $336,238.50. Following the transaction, the chief executive officer now owns 2,750,910 shares in the company, valued at approximately $474,339,411.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Bradley Scott Smith sold 1,524 shares of Paycom Software stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $157.62, for a total transaction of $240,212.88. Following the sale, the insider now 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 SEC, which is accessible through the SEC website. Also, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $172.43, for a total transaction of $336,238.50. Following the sale, the chief executive officer now directly owns 2,750,910 shares in the company, valued at $474,339,411.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 71,906 shares of company stock worth $11,731,540. 14.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Paycom Software

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Palisade Asset Management LLC acquired a new stake in shares of Paycom Software in the 1st quarter valued at about $32,000. Armstrong Advisory Group Inc. acquired a new stake in shares of Paycom Software in the 3rd quarter valued at about $26,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of Paycom Software in the 2nd quarter valued at about $25,000. MFA Wealth Advisors LLC acquired a new stake in shares of Paycom Software in the 2nd quarter valued at about $26,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Paycom Software in the 2nd quarter valued at about $27,000. Hedge funds and other 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.