Paycom Software (NYSE:PAYC) PT Raised to $175.00 at JPMorgan Chase & Co.

Paycom Software (NYSE:PAYC) had its price objective upped by research analysts at JPMorgan Chase & Co. from $165.00 to $175.00 in a report released on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the software maker’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 2.17% from the company’s current price.

Several other analysts have also commented on the stock. BMO Capital Markets cut their target price on shares of Paycom Software from $200.00 to $190.00 and set a “market perform” rating for the company in a research note on Thursday. UBS Group raised their price objective on Paycom Software from $235.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, January 10th. Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a research report on Thursday. Piper Sandler increased their price target on Paycom Software from $185.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, February 8th. Finally, Citigroup cut their price objective on Paycom Software from $205.00 to $198.00 and set a “neutral” rating on the stock in a report on Wednesday, January 31st. Sixteen investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $247.25.

Paycom Software Stock Performance

Shares of NYSE:PAYC traded up $4.57 during trading on Thursday, reaching $171.29. The company had a trading volume of 1,207,026 shares, compared to its average volume of 838,850. The firm’s fifty day moving average is $189.34 and its 200 day moving average is $194.47. The firm has a market capitalization of $9.86 billion, a PE ratio of 20.86, a price-to-earnings-growth ratio of 2.84 and a beta of 1.17. Paycom Software has a twelve month low of $146.15 and a twelve month high of $374.04.

Paycom Software (NYSE:PAYC) last released 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 firm had revenue of $434.60 million during the quarter, compared to the consensus estimate of $422.50 million. During the same period in the prior year, the firm posted $1.38 earnings per share. The firm’s revenue for the quarter was up 17.3% compared to the same quarter last year. Equities analysts predict that Paycom Software will post 5.73 earnings per share for the current fiscal year.

Institutional Trading of Paycom Software

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