Paycom Software (NYSE:PAYC) Price Target Lowered to $170.00 at Mizuho

Paycom Software (NYSE:PAYC) had its target price dropped by stock analysts at Mizuho from $185.00 to $170.00 in a report released on Monday, Benzinga reports. The firm currently has a “neutral” rating on the software maker’s stock. Mizuho’s price target indicates a potential downside of 3.67% from the company’s current price.

Several other analysts have also recently commented on PAYC. Piper Sandler upped their target price on Paycom Software from $185.00 to $190.00 and gave the company a “neutral” rating in a report on Thursday, February 8th. JPMorgan Chase & Co. upped their price objective on shares of Paycom Software from $165.00 to $175.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. BMO Capital Markets decreased their price objective on shares of Paycom Software from $200.00 to $190.00 and set a “market perform” rating for the company in a research report on Thursday, May 2nd. Barclays dropped their target price on shares of Paycom Software from $193.00 to $184.00 and set an “equal weight” rating on the stock in a report on Thursday, May 2nd. Finally, UBS Group increased their price target on Paycom Software from $235.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, January 10th. Sixteen research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $246.31.

Paycom Software Stock Performance

Shares of NYSE:PAYC opened at $176.47 on Monday. Paycom Software has a 52 week low of $146.15 and a 52 week high of $374.04. The firm has a market cap of $10.25 billion, a PE ratio of 21.49, a price-to-earnings-growth ratio of 2.84 and a beta of 1.17. The firm’s fifty day moving average is $189.10 and its 200-day moving average is $192.16.

Paycom Software (NYSE:PAYC) last announced its earnings results on Wednesday, February 7th. The software maker reported $1.93 EPS for the quarter, topping the consensus estimate of $1.78 by $0.15. The firm had revenue of $434.60 million for the quarter, compared to the consensus estimate of $422.50 million. Paycom Software had a return on equity of 32.84% and a net margin of 26.91%. The business’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.38 EPS. Sell-side analysts forecast that Paycom Software will post 5.82 EPS for the current year.

Institutional Trading of Paycom Software

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Paycom Software by 1.2% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,500 shares of the software maker’s stock worth $1,167,000 after acquiring an additional 52 shares during the last quarter. HBK Sorce Advisory LLC boosted its position in shares of Paycom Software by 5.9% during the fourth quarter. HBK Sorce Advisory LLC now owns 986 shares of the software maker’s stock valued at $204,000 after buying an additional 55 shares during the last quarter. Empirical Finance LLC grew its holdings in Paycom Software by 3.9% during the first quarter. Empirical Finance LLC now owns 1,580 shares of the software maker’s stock worth $314,000 after buying an additional 60 shares in the last quarter. Renaissance Group LLC raised its position in Paycom Software by 1.1% in the 3rd quarter. Renaissance Group LLC now owns 5,391 shares of the software maker’s stock valued at $1,398,000 after buying an additional 61 shares during the last quarter. Finally, Optas LLC lifted its stake in Paycom Software by 6.1% during the 1st quarter. Optas LLC now owns 1,059 shares of the software maker’s stock valued at $211,000 after acquiring an additional 61 shares in the last quarter. Institutional investors own 87.77% of the company’s stock.

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.