Barclays Increases Paycom Software (NYSE:PAYC) Price Target to $150.00

Paycom Software (NYSE:PAYC) had its price target hoisted by Barclays from $140.00 to $150.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the software maker’s stock. Barclays‘s target price would suggest a potential upside of 8.62% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. Weiss Ratings downgraded shares of Paycom Software from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, February 3rd. TD Cowen reduced their price objective on shares of Paycom Software from $200.00 to $184.00 and set a “buy” rating on the stock in a research note on Thursday, January 8th. JPMorgan Chase & Co. dropped their target price on shares of Paycom Software from $235.00 to $220.00 and set a “neutral” rating for the company in a research report on Thursday, November 6th. Cantor Fitzgerald increased their price target on Paycom Software from $115.00 to $135.00 and gave the company a “neutral” rating in a research note on Friday. Finally, Guggenheim reduced their price target on Paycom Software from $210.00 to $180.00 and set a “buy” rating on the stock in a research report on Thursday, February 12th. Five equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $170.71.

Paycom Software Stock Up 1.0%

Paycom Software stock opened at $138.09 on Friday. The business’s 50-day simple moving average is $139.07 and its 200 day simple moving average is $173.34. The stock has a market cap of $7.50 billion, a price-to-earnings ratio of 17.07, a P/E/G ratio of 1.50 and a beta of 0.80. Paycom Software has a 12-month low of $104.90 and a 12-month high of $267.76.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings data on Wednesday, February 11th. The software maker reported $2.45 EPS for the quarter, topping analysts’ consensus estimates of $2.44 by $0.01. Paycom Software had a return on equity of 24.25% and a net margin of 22.10%.The firm had revenue of $544.30 million during the quarter, compared to analyst estimates of $542.79 million. During the same period last year, the company earned $2.32 earnings per share. The company’s revenue was up 10.2% on a year-over-year basis. As a group, sell-side analysts expect that Paycom Software will post 7.15 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Robert D. Foster sold 1,300 shares of Paycom Software stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $162.66, for a total transaction of $211,458.00. Following the transaction, the chief financial officer directly owned 14,747 shares of the company’s stock, valued at $2,398,747.02. This trade represents a 8.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 10.90% of the company’s stock.

Institutional Trading of Paycom Software

Large investors have recently made changes to their positions in the company. Union Savings Bank acquired a new position in Paycom Software in the fourth quarter valued at about $80,000. Hsbc Holdings PLC raised its position in shares of Paycom Software by 25.5% during the fourth quarter. Hsbc Holdings PLC now owns 98,103 shares of the software maker’s stock worth $15,651,000 after purchasing an additional 19,937 shares during the period. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Paycom Software by 66,500.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 666 shares of the software maker’s stock valued at $106,000 after purchasing an additional 665 shares in the last quarter. MidFirst Bank acquired a new position in shares of Paycom Software in the 4th quarter valued at approximately $802,000. Finally, Ketron Financial bought a new stake in Paycom Software during the 4th quarter worth approximately $326,000. Institutional investors own 87.77% of the company’s stock.

Paycom Software Company Profile

Paycom Software, Inc (NYSE: PAYC) is a cloud-based human capital management (HCM) software provider that delivers an end-to-end solution for human resources, payroll, talent acquisition, time and labor management, and talent management. Its single-database platform enables organizations to process payroll, track time, administer benefits, and manage recruiting and employee development through a unified system. Paycom’s software is designed to streamline administrative tasks, improve data accuracy, and provide real-time reporting and analytics to support strategic HR decisions.

The company’s core offerings include payroll processing with built-in tax compliance, employee self-service functionality, automated time tracking, and customizable talent acquisition tools that allow employers to create and post job requisitions, screen candidates, and conduct onboarding electronically.