Stifel Nicolaus Raises Paycom Software (NYSE:PAYC) Price Target to $215.00

Paycom Software (NYSE:PAYC) had its price target lifted by Stifel Nicolaus from $187.00 to $215.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “hold” rating on the software maker’s stock. Stifel Nicolaus’ target price would indicate a potential downside of 15.00% from the company’s previous close.

A number of other research analysts have also recently commented on PAYC. Piper Sandler raised their price target on Paycom Software from $224.00 to $246.00 and gave the stock a “neutral” rating in a research report on Thursday. StockNews.com cut shares of Paycom Software from a “buy” rating to a “hold” rating in a research report on Tuesday, March 4th. JPMorgan Chase & Co. increased their price target on shares of Paycom Software from $185.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. BMO Capital Markets boosted their price objective on shares of Paycom Software from $215.00 to $244.00 and gave the company a “market perform” rating in a research report on Thursday. Finally, KeyCorp raised Paycom Software from a “sector weight” rating to an “overweight” rating and set a $245.00 target price on the stock in a report on Monday, March 10th. Eleven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Paycom Software has a consensus rating of “Hold” and an average target price of $226.90.

Paycom Software Stock Up 1.4 %

NYSE PAYC opened at $252.95 on Thursday. The firm has a 50-day moving average price of $217.84 and a two-hundred day moving average price of $214.62. Paycom Software has a 12-month low of $139.50 and a 12-month high of $255.12. The company has a market capitalization of $14.63 billion, a P/E ratio of 28.42, a P/E/G ratio of 2.40 and a beta of 0.80.

Paycom Software (NYSE:PAYC) last issued its quarterly earnings results on Wednesday, May 7th. The software maker reported $2.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.62 by $0.18. Paycom Software had a return on equity of 33.53% and a net margin of 26.66%. The business had revenue of $530.50 million during the quarter, compared to analysts’ expectations of $522.92 million. During the same period in the previous year, the company posted $2.59 earnings per share. The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. Equities analysts expect that Paycom Software will post 7.15 EPS for the current year.

Insider Buying and Selling

In related news, insider Bradley Scott Smith sold 3,000 shares of the business’s stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $201.01, for a total value of $603,030.00. Following the sale, the insider now owns 28,733 shares of the company’s stock, valued at $5,775,620.33. The trade was a 9.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director J C. Watts, Jr. sold 500 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $218.22, for a total value of $109,110.00. Following the completion of the sale, the director now owns 7,730 shares of the company’s stock, valued at $1,686,840.60. The trade was a 6.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 127,100 shares of company stock worth $30,698,424 in the last 90 days. Insiders own 10.90% of the company’s stock.

Institutional Investors Weigh In On Paycom Software

A number of institutional investors have recently made changes to their positions in PAYC. Private Trust Co. NA lifted its stake in shares of Paycom Software by 9.3% in the fourth quarter. Private Trust Co. NA now owns 575 shares of the software maker’s stock worth $118,000 after acquiring an additional 49 shares during the period. Commerce Bank raised its holdings in Paycom Software by 2.2% during the 1st quarter. Commerce Bank now owns 2,351 shares of the software maker’s stock worth $514,000 after purchasing an additional 50 shares during the last quarter. Oppenheimer & Co. Inc. lifted its position in shares of Paycom Software by 1.8% in the 4th quarter. Oppenheimer & Co. Inc. now owns 2,939 shares of the software maker’s stock worth $602,000 after purchasing an additional 51 shares during the period. Allworth Financial LP boosted its stake in shares of Paycom Software by 12.9% in the 1st quarter. Allworth Financial LP now owns 464 shares of the software maker’s stock valued at $105,000 after purchasing an additional 53 shares during the last quarter. Finally, US Bancorp DE increased its position in shares of Paycom Software by 0.5% during the first quarter. US Bancorp DE now owns 10,421 shares of the software maker’s stock worth $2,277,000 after buying an additional 57 shares during the period. 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.