BMO Capital Markets Cuts Paycom Software (NYSE:PAYC) Price Target to $190.00

Paycom Software (NYSE:PAYC) had its price objective decreased by stock analysts at BMO Capital Markets from $200.00 to $190.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a “market perform” rating on the software maker’s stock. BMO Capital Markets’ target price points to a potential upside of 14.70% from the stock’s current price.

Several other research firms have also commented on PAYC. UBS Group upped their price target on shares of Paycom Software from $235.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, January 10th. JPMorgan Chase & Co. increased their target price on shares of Paycom Software from $140.00 to $165.00 and gave the stock a “neutral” rating in a report on Thursday, February 8th. Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a report on Thursday. Jefferies Financial Group reissued a “hold” rating and issued a $195.00 target price on shares of Paycom Software in a report on Friday, January 5th. Finally, Piper Sandler increased their target price on shares of Paycom Software from $185.00 to $190.00 and gave the stock a “neutral” rating in a report on Thursday, February 8th. Seventeen analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $257.18.

Paycom Software Stock Down 11.1 %

Shares of NYSE:PAYC traded down $20.59 on Thursday, hitting $165.65. 1,058,312 shares of the company traded hands, compared to its average volume of 846,172. Paycom Software has a 52 week low of $146.15 and a 52 week high of $374.04. The stock has a 50 day simple moving average of $189.91 and a 200-day simple moving average of $195.35. The company has a market cap of $9.53 billion, a PE ratio of 28.40, a PEG ratio of 3.21 and a beta of 1.17.

Paycom Software (NYSE:PAYC) last issued its quarterly earnings results on Wednesday, February 7th. The software maker reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.78 by $0.15. Paycom Software had a return on equity of 24.60% and a net margin of 20.12%. The firm had revenue of $434.60 million during the quarter, compared to the consensus estimate of $422.50 million. During the same period last year, the company earned $1.38 earnings per share. The company’s revenue was up 17.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Paycom Software will post 5.73 earnings per share for the current year.

Institutional Trading of Paycom Software

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of Paycom Software by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 5,936,910 shares of the software maker’s stock valued at $1,227,278,000 after buying an additional 137,583 shares during the period. American Century Companies Inc. increased its stake in shares of Paycom Software by 18.8% during the third quarter. American Century Companies Inc. now owns 1,139,511 shares of the software maker’s stock valued at $295,441,000 after buying an additional 180,202 shares during the period. Brown Capital Management LLC increased its stake in shares of Paycom Software by 10.1% during the fourth quarter. Brown Capital Management LLC now owns 1,106,045 shares of the software maker’s stock valued at $228,642,000 after buying an additional 101,744 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its stake in shares of Paycom Software by 7.9% during the first quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 977,055 shares of the software maker’s stock valued at $182,426,000 after buying an additional 71,272 shares during the period. Finally, International Assets Investment Management LLC increased its stake in shares of Paycom Software by 16,173.6% during the fourth quarter. International Assets Investment Management LLC now owns 787,803 shares of the software maker’s stock valued at $162,855,000 after buying an additional 782,962 shares during the period. 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.