Paycom Software (NYSE:PAYC) Price Target Cut to $149.00 by Analysts at TD Cowen

Paycom Software (NYSE:PAYC) had its target price lowered by stock analysts at TD Cowen from $154.00 to $149.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the software maker’s stock. TD Cowen’s price objective points to a potential upside of 15.87% from the stock’s previous close.

Other analysts also recently issued research reports about the stock. Barclays decreased their price target on shares of Paycom Software from $150.00 to $148.00 and set an “equal weight” rating for the company in a research report on Thursday, May 7th. UBS Group cut their price target on shares of Paycom Software from $210.00 to $183.00 and set a “buy” rating on the stock in a report on Tuesday, April 21st. Mizuho increased their price objective on shares of Paycom Software from $120.00 to $130.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Cantor Fitzgerald raised their price objective on shares of Paycom Software from $115.00 to $135.00 and gave the stock a “neutral” rating in a report on Friday, March 6th. Finally, BMO Capital Markets boosted their target price on shares of Paycom Software from $137.00 to $145.00 and gave the stock a “market perform” rating in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $159.25.

Paycom Software Stock Up 3.3%

Shares of NYSE PAYC traded up $4.12 during midday trading on Friday, reaching $128.60. 222,858 shares of the company’s stock were exchanged, compared to its average volume of 1,441,619. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.08 and a current ratio of 1.08. Paycom Software has a 52-week low of $104.90 and a 52-week high of $248.95. The business’s fifty day moving average price is $132.50 and its two-hundred day moving average price is $136.27. The stock has a market capitalization of $6.13 billion, a PE ratio of 14.86, a price-to-earnings-growth ratio of 1.10 and a beta of 0.79.

Paycom Software (NYSE:PAYC) last issued its quarterly earnings results on Wednesday, May 6th. The software maker reported $3.15 EPS for the quarter, beating analysts’ consensus estimates of $2.99 by $0.16. Paycom Software had a return on equity of 28.34% and a net margin of 22.44%.The firm had revenue of $571.80 million during the quarter, compared to the consensus estimate of $564.37 million. During the same quarter in the prior year, the business posted $2.80 earnings per share. Paycom Software’s revenue for the quarter was up 7.8% on a year-over-year basis. Analysts forecast that Paycom Software will post 9.16 EPS for the current year.

Institutional Investors Weigh In On Paycom Software

Several institutional investors and hedge funds have recently bought and sold shares of the business. Brighton Jones LLC acquired a new position in Paycom Software in the fourth quarter valued at approximately $638,000. AQR Capital Management LLC lifted its holdings in shares of Paycom Software by 23.7% in the 1st quarter. AQR Capital Management LLC now owns 19,155 shares of the software maker’s stock worth $4,136,000 after purchasing an additional 3,674 shares during the last quarter. United Services Automobile Association acquired a new position in Paycom Software during the 1st quarter valued at approximately $215,000. Empowered Funds LLC boosted its position in Paycom Software by 22.8% during the 1st quarter. Empowered Funds LLC now owns 7,958 shares of the software maker’s stock valued at $1,739,000 after purchasing an additional 1,480 shares during the period. Finally, Focus Partners Wealth grew its stake in Paycom Software by 220.8% during the 1st quarter. Focus Partners Wealth now owns 3,940 shares of the software maker’s stock worth $861,000 after buying an additional 2,712 shares during the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Paycom Software Company Profile

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.