Paycom Software (NYSE:PAYC) PT Lowered to $193.00

Paycom Software (NYSE:PAYC) had its price target dropped by research analysts at Citigroup from $196.00 to $193.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the software maker’s stock. Citigroup’s target price indicates a potential upside of 12.67% from the company’s previous close.

PAYC has been the subject of a number of other reports. BTIG Research assumed coverage on shares of Paycom Software in a research note on Tuesday, February 6th. They set a “neutral” rating for the company. JPMorgan Chase & Co. raised their target price on Paycom Software from $165.00 to $175.00 and gave the stock a “neutral” rating in a research report on Thursday. Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a research report on Thursday. Barclays lowered their price objective on shares of Paycom Software from $193.00 to $184.00 and set an “equal weight” rating on the stock in a research note on Thursday. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $195.00 target price on shares of Paycom Software in a report on Friday, January 5th. Sixteen equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $247.25.

Paycom Software Stock Performance

Shares of PAYC stock traded up $4.57 during mid-day trading on Thursday, hitting $171.29. The company’s stock had a trading volume of 1,207,026 shares, compared to its average volume of 838,850. Paycom Software has a 52-week low of $146.15 and a 52-week high of $374.04. The stock has a market cap of $9.86 billion, a price-to-earnings ratio of 20.86, a PEG ratio of 2.84 and a beta of 1.17. The business has a 50-day moving average price of $189.34 and a 200 day moving average price of $194.47.

Paycom Software (NYSE:PAYC) last issued its earnings results on Wednesday, February 7th. The software maker reported $1.93 earnings per share for the quarter, topping analysts’ consensus estimates of $1.78 by $0.15. Paycom Software had a return on equity of 32.84% and a net margin of 26.91%. The business had revenue of $434.60 million during the quarter, compared to analyst estimates of $422.50 million. During the same quarter in the previous year, the firm earned $1.38 EPS. Paycom Software’s revenue was up 17.3% on a year-over-year basis. Equities research analysts predict that Paycom Software will post 5.73 EPS for the current fiscal year.

Hedge Funds Weigh In On Paycom Software

Several institutional investors have recently bought and sold shares of the stock. Mather Group LLC. purchased a new position in shares of Paycom Software during the first quarter valued at about $26,000. Hexagon Capital Partners LLC boosted its stake in Paycom Software by 333.3% during the fourth quarter. Hexagon Capital Partners LLC now owns 130 shares of the software maker’s stock valued at $27,000 after buying an additional 100 shares during the last quarter. Palisade Asset Management LLC bought a new stake in Paycom Software in the 1st quarter worth approximately $32,000. Cary Street Partners Investment Advisory LLC increased its stake in Paycom Software by 83.5% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 156 shares of the software maker’s stock worth $40,000 after acquiring an additional 71 shares during the last quarter. Finally, Transcendent Capital Group LLC purchased a new stake in shares of Paycom Software during the 4th quarter worth approximately $41,000. 87.77% of the stock is owned by hedge funds and other institutional investors.

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.