Paycom Software (NYSE:PAYC) Price Target Lowered to $200.00 at TD Cowen

Paycom Software (NYSE:PAYC) had its target price decreased by stock analysts at TD Cowen from $258.00 to $200.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the software maker’s stock. TD Cowen’s price target would suggest a potential upside of 24.74% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. Mizuho lowered their price target on Paycom Software from $220.00 to $180.00 and set a “neutral” rating on the stock in a research report on Thursday. KeyCorp lowered their price objective on shares of Paycom Software from $290.00 to $250.00 and set an “overweight” rating on the stock in a research note on Thursday. Jefferies Financial Group lowered their price target on shares of Paycom Software from $250.00 to $225.00 and set a “hold” rating on the stock in a report on Monday, October 13th. UBS Group reduced their target price on shares of Paycom Software from $310.00 to $285.00 and set a “buy” rating on the stock in a report on Wednesday, September 17th. Finally, JPMorgan Chase & Co. upped their target price on Paycom Software from $215.00 to $235.00 and gave the company a “neutral” rating in a research note on Thursday, August 7th. Four analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $232.69.

Paycom Software Price Performance

PAYC traded down $23.37 on Thursday, hitting $160.34. 1,155,139 shares of the stock were exchanged, compared to its average volume of 640,022. The firm has a market capitalization of $9.28 billion, a price-to-earnings ratio of 21.70, a PEG ratio of 2.01 and a beta of 0.88. Paycom Software has a 12 month low of $156.50 and a 12 month high of $267.76. The business has a 50-day moving average of $208.39 and a two-hundred day moving average of $226.92.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings data on Wednesday, November 5th. The software maker reported $1.94 EPS for the quarter, missing the consensus estimate of $1.96 by ($0.02). The company had revenue of $493.30 million for the quarter, compared to analyst estimates of $492.62 million. Paycom Software had a return on equity of 25.40% and a net margin of 21.22%.The business’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same period last year, the business earned $1.67 EPS. Paycom Software has set its FY 2025 guidance at EPS. Equities research analysts expect that Paycom Software will post 7.15 earnings per share for the current fiscal year.

Insider Transactions at Paycom Software

In other news, insider Bradley Scott Smith sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $223.27, for a total value of $334,905.00. Following the completion of the sale, the insider directly owned 24,533 shares of the company’s stock, valued at $5,477,482.91. This trade represents a 5.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 10.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PAYC. SouthState Corp acquired a new position in Paycom Software in the first quarter worth about $27,000. CYBER HORNET ETFs LLC purchased a new stake in shares of Paycom Software during the second quarter valued at $29,000. MUFG Securities EMEA plc purchased a new position in shares of Paycom Software during the second quarter valued at $33,000. Steigerwald Gordon & Koch Inc. acquired a new stake in shares of Paycom Software during the 3rd quarter valued at $31,000. Finally, S Bank Fund Management Ltd acquired a new stake in Paycom Software in the first quarter valued at approximately $37,000. 87.77% of the stock is owned by institutional investors and hedge funds.

About Paycom Software

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.