Barclays Forecasts Strong Price Appreciation for Paycom Software (NYSE:PAYC) Stock

Paycom Software (NYSE:PAYC) had its target price upped by equities research analysts at Barclays from $140.00 to $150.00 in a research report issued on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the software maker’s stock. Barclays‘s price objective would suggest a potential upside of 11.11% from the company’s previous close.

A number of other research firms have also weighed in on PAYC. Citigroup reduced their price objective on Paycom Software from $185.00 to $128.00 and set a “neutral” rating for the company in a research note on Friday, February 13th. TD Cowen dropped their target price on Paycom Software from $200.00 to $184.00 and set a “buy” rating on the stock in a research report on Thursday, January 8th. Mizuho reduced their target price on Paycom Software from $180.00 to $120.00 and set a “neutral” rating for the company in a research note on Thursday, February 12th. UBS Group decreased their target price on Paycom Software from $245.00 to $210.00 and set a “buy” rating on the stock in a research report on Monday, January 26th. Finally, Weiss Ratings lowered shares of Paycom Software from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, February 3rd. Five analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $169.29.

Paycom Software Stock Performance

NYSE PAYC traded down $1.66 during trading hours on Friday, reaching $135.00. The stock had a trading volume of 360,213 shares, compared to its average volume of 1,774,138. Paycom Software has a 52-week low of $104.90 and a 52-week high of $267.76. The stock has a fifty day moving average of $139.51 and a 200 day moving average of $174.32. The stock has a market cap of $7.33 billion, a P/E ratio of 16.69, a price-to-earnings-growth ratio of 1.46 and a beta of 0.80.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings data on Wednesday, February 11th. The software maker reported $2.45 EPS for the quarter, beating the consensus estimate of $2.44 by $0.01. Paycom Software had a net margin of 22.10% and a return on equity of 24.25%. The business had revenue of $544.30 million during the quarter, compared to analysts’ expectations of $542.79 million. During the same period in the previous year, the business posted $2.32 EPS. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, equities research analysts forecast that Paycom Software will post 7.15 EPS for the current year.

Insider Buying and Selling at Paycom Software

In related news, CFO Robert D. Foster sold 1,300 shares of the business’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $162.66, for a total transaction of $211,458.00. Following the transaction, the chief financial officer directly owned 14,747 shares in the company, valued at approximately $2,398,747.02. The trade was a 8.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 10.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. True Wealth Design LLC lifted its position in Paycom Software by 946.7% during the fourth quarter. True Wealth Design LLC now owns 157 shares of the software maker’s stock worth $25,000 after buying an additional 142 shares in the last quarter. Brown Brothers Harriman & Co. increased its stake in shares of Paycom Software by 190.6% in the 4th quarter. Brown Brothers Harriman & Co. now owns 154 shares of the software maker’s stock worth $25,000 after acquiring an additional 101 shares during the last quarter. Clearstead Advisors LLC raised its holdings in shares of Paycom Software by 140.3% during the 4th quarter. Clearstead Advisors LLC now owns 161 shares of the software maker’s stock worth $26,000 after acquiring an additional 94 shares during the period. Caitlin John LLC acquired a new position in shares of Paycom Software during the 3rd quarter valued at about $29,000. Finally, CYBER HORNET ETFs LLC acquired a new position in shares of Paycom Software during the 2nd quarter valued at about $29,000. 87.77% of the stock is currently owned by institutional investors and hedge funds.

About Paycom Software

Paycom Software, Inc (NYSE: PAYC) is a cloud-based human capital management (HCM) software provider that delivers an end-to-end solution for human resources, payroll, talent acquisition, time and labor management, and talent management. Its single-database platform enables organizations to process payroll, track time, administer benefits, and manage recruiting and employee development through a unified system. Paycom’s software is designed to streamline administrative tasks, improve data accuracy, and provide real-time reporting and analytics to support strategic HR decisions.

The company’s core offerings include payroll processing with built-in tax compliance, employee self-service functionality, automated time tracking, and customizable talent acquisition tools that allow employers to create and post job requisitions, screen candidates, and conduct onboarding electronically.