Paycom Software (NYSE:PAYC – Get Free Report) had its price objective hoisted by research analysts at KeyCorp from $280.00 to $295.00 in a report issued on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the software maker’s stock. KeyCorp‘s price target would indicate a potential upside of 13.00% from the stock’s previous close.
Several other research firms also recently issued reports on PAYC. TD Cowen boosted their price target on Paycom Software from $244.00 to $286.00 and gave the company a “buy” rating in a research note on Friday, October 2nd. Jefferies Financial Group increased their price objective on Paycom Software from $160.00 to $300.00 and gave the stock a “hold” rating in a research report on Tuesday. Wall Street Zen cut Paycom Software from a “buy” rating to a “hold” rating in a research report on Sunday, September 6th. Cantor Fitzgerald lifted their target price on Paycom Software from $135.00 to $195.00 and gave the stock a “neutral” rating in a report on Thursday, August 6th. Finally, BMO Capital Markets boosted their target price on shares of Paycom Software from $145.00 to $208.00 and gave the company a “market perform” rating in a research report on Thursday, August 6th. Five investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Paycom Software has an average rating of “Hold” and a consensus target price of $249.79.
Get Our Latest Stock Analysis on PAYC
Paycom Software Trading Down 2.7%
Shares of PAYC opened at $261.07 on Wednesday. Paycom Software has a 52 week low of $104.90 and a 52 week high of $275.22. The firm’s 50-day simple moving average is $233.37 and its 200 day simple moving average is $162.55.
Paycom Software (NYSE:PAYC – Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The software maker reported $2.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.40. The company had revenue of $531.20 million for the quarter, compared to analyst estimates of $513.12 million. During the same quarter last year, the business earned $2.06 earnings per share. The company’s revenue was up 9.8% on a year-over-year basis. On average, equities analysts forecast that Paycom Software will post 10.80 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, insider Shane Hadlock sold 2,577 shares of the firm’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $237.60, for a total transaction of $612,295.20. Following the sale, the insider owned 70,152 shares of the company’s stock, valued at $16,668,115.20. This trade represents a 3.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 13.20% 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 the stock. BlackRock Inc. acquired a new stake in Paycom Software during the second quarter worth approximately $632,460,000. Bank of New York Mellon Corp acquired a new position in Paycom Software in the second quarter valued at approximately $42,858,000. Equity Investment Corp bought a new position in shares of Paycom Software during the 2nd quarter worth approximately $37,085,000. Bank of America Corp DE bought a new position in shares of Paycom Software during the 2nd quarter worth approximately $34,146,000. Finally, Reinhart Partners LLC. grew its position in shares of Paycom Software by 20.1% during the 2nd quarter. Reinhart Partners LLC. now owns 1,219,906 shares of the software maker’s stock worth $153,320,000 after buying an additional 204,191 shares during the period. Institutional investors own 87.77% of the company’s stock.
About Paycom Software
Paycom Software, Inc is a provider of cloud-based human capital management (HCM) software designed to help businesses manage employee-related processes through a unified platform. Its solutions support payroll, human resources, talent acquisition and management, time and labor management, compliance, and employee engagement.
The company’s software is intended to allow employers and employees to enter and manage workforce information within a single system. Its offerings include payroll processing, benefits administration, expense management, scheduling, performance management, learning, and recruiting tools.
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