Paycom Software (NYSE:PAYC) Price Target Lowered to $328.00 at Barclays

Paycom Software (NYSE:PAYCGet Rating) had its target price reduced by investment analysts at Barclays from $380.00 to $328.00 in a report released on Tuesday, The Fly reports. Barclays‘s price target would indicate a potential upside of 6.34% from the company’s current price.

A number of other research firms have also commented on PAYC. Credit Suisse Group started coverage on shares of Paycom Software in a research note on Wednesday, March 23rd. They issued an “outperform” rating and a $425.00 price objective on the stock. BMO Capital Markets started coverage on shares of Paycom Software in a research note on Tuesday, February 1st. They set a “market perform” rating and a $335.00 target price on the stock. Piper Sandler increased their target price on shares of Paycom Software from $498.00 to $505.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 9th. Citigroup started coverage on shares of Paycom Software in a research note on Tuesday, February 1st. They set a “hold” rating and a $335.00 target price on the stock. Finally, KeyCorp cut their target price on shares of Paycom Software from $575.00 to $400.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 25th. One research analyst has rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Paycom Software has a consensus rating of “Buy” and an average price target of $429.20.

NYSE:PAYC opened at $308.45 on Tuesday. The firm’s fifty day moving average is $332.93 and its 200-day moving average is $397.43. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.13 and a current ratio of 1.13. Paycom Software has a 52 week low of $283.91 and a 52 week high of $558.97. The firm has a market cap of $18.57 billion, a P/E ratio of 91.53, a P/E/G ratio of 3.13 and a beta of 1.49.

Paycom Software (NYSE:PAYCGet Rating) last posted its quarterly earnings data on Tuesday, February 8th. The software maker reported $0.82 EPS for the quarter, beating the Zacks’ consensus estimate of $0.77 by $0.05. Paycom Software had a net margin of 18.57% and a return on equity of 23.85%. The company had revenue of $284.99 million for the quarter, compared to analyst estimates of $275.84 million. During the same period in the prior year, the firm posted $0.41 EPS. The company’s quarterly revenue was up 29.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Paycom Software will post 4.08 earnings per share for the current year.

Institutional investors and hedge funds have recently modified their holdings of the business. Moors & Cabot Inc. bought a new stake in Paycom Software during the 3rd quarter worth approximately $25,000. JNBA Financial Advisors bought a new position in shares of Paycom Software in the third quarter valued at approximately $26,000. Quent Capital LLC bought a new position in shares of Paycom Software in the fourth quarter valued at approximately $27,000. Allworth Financial LP grew its holdings in shares of Paycom Software by 59.0% in the third quarter. Allworth Financial LP now owns 62 shares of the software maker’s stock valued at $31,000 after acquiring an additional 23 shares in the last quarter. Finally, Quadrant Capital Group LLC grew its holdings in shares of Paycom Software by 54.8% in the fourth quarter. Quadrant Capital Group LLC now owns 96 shares of the software maker’s stock valued at $40,000 after acquiring an additional 34 shares in the last quarter. 72.85% of the stock is owned by hedge funds and other institutional investors.

About Paycom Software (Get Rating)

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.

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