Paycom Software (NYSE:PAYC) Stock Price Expected to Rise, Citigroup Analyst Says

Paycom Software (NYSE:PAYC) had its target price boosted by equities researchers at Citigroup from $194.00 to $279.00 in a report released on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the software maker’s stock. Citigroup‘s price objective would suggest a potential upside of 6.87% from the stock’s current price.

Several other equities analysts have also commented on PAYC. Wall Street Zen lowered shares of Paycom Software from a “buy” rating to a “hold” rating in a report on Sunday, September 6th. TD Cowen lifted their target price on shares of Paycom Software from $244.00 to $286.00 and gave the stock a “buy” rating in a research report on Friday, October 2nd. BTIG Research boosted their price target on shares of Paycom Software from $230.00 to $305.00 and gave the stock a “buy” rating in a research note on Monday. Zacks Research lowered shares of Paycom Software from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. Finally, Barclays raised their price objective on Paycom Software from $210.00 to $250.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 13th. Five analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $248.71.

Paycom Software Price Performance

PAYC traded down $7.18 during midday trading on Tuesday, hitting $261.07. The stock had a trading volume of 629,768 shares, compared to its average volume of 1,172,661. Paycom Software has a 1 year low of $104.90 and a 1 year high of $275.22. The company has a debt-to-equity ratio of 1.57, a quick ratio of 1.07 and a current ratio of 1.07. The business has a fifty day moving average of $231.44 and a 200 day moving average of $161.48. The company has a market cap of $11.77 billion, a P/E ratio of 27.74, a price-to-earnings-growth ratio of 1.47 and a beta of 0.82.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings results on Wednesday, August 5th. The software maker reported $2.78 EPS for the quarter, topping the consensus estimate of $2.38 by $0.40. The firm had revenue of $531.20 million for the quarter, compared to the consensus estimate of $513.12 million. Paycom Software had a net margin of 22.78% and a return on equity of 37.06%. The business’s revenue was up 9.8% compared to the same quarter last year. During the same period last year, the firm posted $2.06 earnings per share. As a group, equities analysts forecast that Paycom Software will post 10.80 earnings per share for the current fiscal year.

Insider Activity at Paycom Software

In other news, insider Shane Hadlock sold 2,577 shares of the stock in a transaction dated Thursday, August 27th. The shares were sold at an average price of $237.60, for a total transaction of $612,295.20. Following the completion of the sale, the insider directly owned 70,152 shares in the company, valued at approximately $16,668,115.20. This represents a 3.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 13.20% of the company’s stock.

Institutional Trading of Paycom Software

Several large investors have recently added to or reduced their stakes in PAYC. Fluent Financial LLC purchased a new position in shares of Paycom Software during the second quarter valued at about $2,439,000. Principal Financial Group Inc. lifted its holdings in Paycom Software by 290.5% in the first quarter. Principal Financial Group Inc. now owns 243,762 shares of the software maker’s stock worth $29,627,000 after buying an additional 181,346 shares during the period. Greenwich Wealth Management LLC purchased a new stake in Paycom Software in the second quarter worth about $5,118,000. Corient Private Wealth LP purchased a new stake in Paycom Software in the second quarter worth about $10,803,000. Finally, Janus Henderson Group PLC boosted its position in Paycom Software by 467.2% during the 1st quarter. Janus Henderson Group PLC now owns 23,200 shares of the software maker’s stock valued at $2,819,000 after acquiring an additional 19,110 shares in the last quarter. Institutional investors own 87.77% of the company’s stock.

About Paycom Software

Paycom Software, Inc is a provider of cloud-based human capital management (HCM) software designed to help businesses manage employee-related processes through a unified platform. Its solutions support payroll, human resources, talent acquisition and management, time and labor management, compliance, and employee engagement.

The company’s software is intended to allow employers and employees to enter and manage workforce information within a single system. Its offerings include payroll processing, benefits administration, expense management, scheduling, performance management, learning, and recruiting tools.