Paycom Software (NYSE:PAYC) Given New $191.00 Price Target at Piper Sandler

Paycom Software (NYSE:PAYC) had its price objective raised by stock analysts at Piper Sandler from $160.00 to $191.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a “neutral” rating on the software maker’s stock. Piper Sandler’s price target suggests a potential downside of 9.33% from the stock’s previous close.

Several other equities research analysts have also weighed in on PAYC. Barclays increased their price objective on shares of Paycom Software from $167.00 to $172.00 and gave the stock an “equal weight” rating in a research note on Friday, October 11th. StockNews.com cut shares of Paycom Software from a “buy” rating to a “hold” rating in a research report on Monday, July 15th. Jefferies Financial Group upped their target price on shares of Paycom Software from $155.00 to $170.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a research report on Thursday, August 1st. Finally, TD Cowen upped their target price on shares of Paycom Software from $171.00 to $188.00 and gave the stock a “hold” rating in a research report on Monday, September 23rd. Thirteen investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $190.80.

Paycom Software Stock Up 0.8 %

PAYC opened at $210.65 on Thursday. The firm has a market cap of $12.10 billion, a price-to-earnings ratio of 25.35, a price-to-earnings-growth ratio of 2.45 and a beta of 1.17. Paycom Software has a fifty-two week low of $139.50 and a fifty-two week high of $222.30. The company’s 50-day moving average price is $167.57 and its 200 day moving average price is $163.35.

Paycom Software (NYSE:PAYC) last released its quarterly earnings data on Wednesday, July 31st. The software maker reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.07. The firm had revenue of $437.51 million for the quarter, compared to analyst estimates of $436.19 million. Paycom Software had a net margin of 25.78% and a return on equity of 33.34%. Research analysts anticipate that Paycom Software will post 6.64 earnings per share for the current year.

Insider Activity

In related news, insider Bradley Scott Smith sold 1,524 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $157.62, for a total transaction of $240,212.88. Following the completion of the sale, the insider now directly owns 14,769 shares of the company’s stock, valued at $2,327,889.78. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $158.31, for a total transaction of $308,704.50. Following the completion of the sale, the chief executive officer now directly owns 2,984,708 shares of the company’s stock, valued at $472,509,123.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Bradley Scott Smith sold 1,524 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $157.62, for a total transaction of $240,212.88. Following the completion of the sale, the insider now owns 14,769 shares of the company’s stock, valued at approximately $2,327,889.78. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 71,906 shares of company stock worth $11,731,540 over the last three months. Corporate insiders own 14.50% of the company’s stock.

Institutional Investors Weigh In On Paycom Software

Several hedge funds have recently made changes to their positions in PAYC. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Paycom Software in the 2nd quarter valued at approximately $25,000. MFA Wealth Advisors LLC purchased a new stake in Paycom Software in the 2nd quarter worth approximately $26,000. Armstrong Advisory Group Inc. purchased a new stake in Paycom Software in the 3rd quarter worth approximately $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Paycom Software in the 2nd quarter worth approximately $27,000. Finally, Palisade Asset Management LLC purchased a new stake in Paycom Software in the 1st quarter worth approximately $32,000. Hedge funds and other institutional investors own 87.77% of the company’s stock.

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.