BMO Capital Markets Lowers Paycom Software (NYSE:PAYC) Price Target to $190.00

Paycom Software (NYSE:PAYC) had its target price cut by BMO Capital Markets from $320.00 to $190.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “market perform” rating on the software maker’s stock. BMO Capital Markets’ price target suggests a potential upside of 16.81% from the company’s current price.

Several other analysts have also recently commented on PAYC. William Blair cut Paycom Software from an “outperform” rating to a “market perform” rating in a report on Wednesday. Citigroup lowered Paycom Software from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $360.00 to $189.00 in a research note on Wednesday. Mizuho reduced their price objective on Paycom Software from $325.00 to $185.00 and set a “neutral” rating on the stock in a research note on Wednesday. Robert W. Baird reduced their price objective on Paycom Software from $443.00 to $427.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft cut Paycom Software from a “buy” rating to a “hold” rating and decreased their price target for the stock from $400.00 to $175.00 in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Paycom Software has a consensus rating of “Hold” and an average target price of $275.50.

Paycom Software Trading Up 7.9 %

Paycom Software stock opened at $162.66 on Wednesday. The stock has a market cap of $9.84 billion, a PE ratio of 27.81, a P/E/G ratio of 1.75 and a beta of 1.40. The stock has a 50-day moving average price of $266.16 and a 200 day moving average price of $292.43. Paycom Software has a 52 week low of $146.15 and a 52 week high of $374.04. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.02.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings data on Tuesday, October 31st. The software maker reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.61 by $0.16. The firm had revenue of $406.30 million during the quarter, compared to analysts’ expectations of $411.17 million. Paycom Software had a return on equity of 25.56% and a net margin of 20.80%. The firm’s quarterly revenue was up 21.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.92 EPS. Equities research analysts predict that Paycom Software will post 6.09 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Christopher Gene Thomas sold 320 shares of the firm’s stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $290.05, for a total transaction of $92,816.00. Following the transaction, the executive vice president now directly owns 26,154 shares of the company’s stock, valued at $7,585,967.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Christopher Gene Thomas sold 320 shares of the firm’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $290.05, for a total transaction of $92,816.00. Following the completion of the transaction, the executive vice president now owns 26,154 shares of the company’s stock, valued at $7,585,967.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jason D. Clark sold 130 shares of the firm’s stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $287.36, for a total value of $37,356.80. Following the transaction, the director now directly owns 4,970 shares of the company’s stock, valued at approximately $1,428,179.20. The disclosure for this sale can be found here. 14.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Paycom Software

Institutional investors have recently bought and sold shares of the business. Ridgewood Investments LLC acquired a new stake in Paycom Software during the 1st quarter worth about $26,000. HHM Wealth Advisors LLC raised its stake in shares of Paycom Software by 350.0% during the 1st quarter. HHM Wealth Advisors LLC now owns 90 shares of the software maker’s stock worth $27,000 after purchasing an additional 70 shares in the last quarter. Fairfield Bush & CO. purchased a new stake in shares of Paycom Software during the 2nd quarter worth about $27,000. KB Financial Partners LLC bought a new position in shares of Paycom Software in the 1st quarter valued at approximately $28,000. Finally, Clear Street Markets LLC raised its stake in shares of Paycom Software by 98.0% in the 1st quarter. Clear Street Markets LLC now owns 97 shares of the software maker’s stock valued at $29,000 after acquiring an additional 48 shares in the last quarter. 88.69% of the stock is currently owned by institutional investors and hedge funds.

Paycom Software Company Profile

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.