Paycom Software (NYSE:PAYC) Price Target Raised to $305.00

Paycom Software (NYSE:PAYC) had its price target hoisted by stock analysts at BTIG Research from $230.00 to $305.00 in a research note issued on Monday, Benzinga reports. The firm currently has a “buy” rating on the software maker’s stock. BTIG Research‘s price target points to a potential upside of 11.06% from the stock’s previous close.

Other analysts also recently issued research reports about the stock. TD Cowen raised their price target on shares of Paycom Software from $244.00 to $286.00 and gave the company a “buy” rating in a report on Friday, October 2nd. KeyCorp increased their price objective on shares of Paycom Software from $270.00 to $280.00 and gave the company an “overweight” rating in a research report on Monday, September 21st. Wall Street Zen cut shares of Paycom Software from a “buy” rating to a “hold” rating in a report on Sunday, September 6th. Cantor Fitzgerald raised their target price on shares of Paycom Software from $135.00 to $195.00 and gave the stock a “neutral” rating in a report on Thursday, August 6th. Finally, Barclays lifted their target price on shares of Paycom Software from $210.00 to $250.00 and gave the stock an “equal weight” rating in a research report 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $230.50.

Paycom Software Trading Up 0.0%

Paycom Software stock opened at $274.64 on Monday. Paycom Software has a one year low of $104.90 and a one year high of $275.22. The business’s fifty day moving average is $231.72 and its 200 day moving average is $173.97. The stock has a market capitalization of $12.38 billion, a PE ratio of 29.19, a price-to-earnings-growth ratio of 1.47 and a beta of 0.82. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.07 and a quick ratio of 1.07.

Paycom Software (NYSE:PAYC) last issued its earnings results on Wednesday, August 5th. The software maker reported $2.78 earnings per share for the quarter, topping analysts’ consensus estimates of $2.38 by $0.40. Paycom Software had a return on equity of 37.06% and a net margin of 22.78%. The business had revenue of $531.20 million during the quarter, compared to analyst estimates of $513.12 million. During the same quarter in the previous year, the firm earned $2.06 EPS. Paycom Software’s revenue was up 9.8% on a year-over-year basis. On average, sell-side analysts predict that Paycom Software will post 10.80 EPS for the current year.

Insider Transactions at Paycom Software

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

Institutional Investors Weigh In On Paycom Software

Several hedge funds and other institutional investors have recently made changes to their positions in the business. TD Waterhouse Canada Inc. bought a new stake in shares of Paycom Software during the 3rd quarter valued at $25,000. Elevation Wealth Partners LLC raised its stake in Paycom Software by 76.5% during the 3rd quarter. Elevation Wealth Partners LLC now owns 233 shares of the software maker’s stock worth $51,000 after acquiring an additional 101 shares during the period. Caitlin John LLC bought a new stake in Paycom Software during the 2nd quarter worth approximately $31,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in Paycom Software during the second quarter valued at approximately $33,000. Finally, EFG International AG purchased a new position in Paycom Software during the second quarter valued at approximately $36,000. Hedge funds and other 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.