Paycom Software’s (PAYC) “Hold” Rating Reiterated at Needham & Company LLC

Paycom Software (NYSE:PAYC)‘s stock had its “hold” rating restated by investment analysts at Needham & Company LLC in a research note issued to investors on Thursday, Benzinga reports.

PAYC has been the subject of several other reports. JPMorgan Chase & Co. boosted their price objective on shares of Paycom Software from $140.00 to $165.00 and gave the company a “neutral” rating in a research note on Thursday, February 8th. Citigroup dropped their price target on Paycom Software from $205.00 to $198.00 and set a “neutral” rating for the company in a research note on Wednesday, January 31st. UBS Group lifted their price objective on Paycom Software from $235.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, January 10th. Piper Sandler increased their target price on shares of Paycom Software from $185.00 to $190.00 and gave the stock a “neutral” rating in a research report on Thursday, February 8th. Finally, BTIG Research began coverage on shares of Paycom Software in a research report on Tuesday, February 6th. They set a “neutral” rating on the stock. Seventeen investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Paycom Software currently has an average rating of “Hold” and an average target price of $257.18.

Paycom Software Trading Down 0.9 %

NYSE:PAYC opened at $186.24 on Thursday. Paycom Software has a 12-month low of $146.15 and a 12-month high of $374.04. The firm has a market cap of $10.72 billion, a price-to-earnings ratio of 31.57, a price-to-earnings-growth ratio of 3.21 and a beta of 1.17. The company’s 50-day moving average is $189.91 and its two-hundred day moving average is $195.35.

Paycom Software (NYSE:PAYC) last released 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. Paycom Software had a net margin of 20.12% and a return on equity of 24.60%. The firm had revenue of $434.60 million during the quarter, compared to analysts’ expectations of $422.50 million. During the same period in the previous year, the company earned $1.38 EPS. Paycom Software’s revenue for the quarter was up 17.3% on a year-over-year basis. On average, equities research analysts forecast that Paycom Software will post 5.73 earnings per share for the current fiscal year.

Institutional Trading of Paycom Software

Institutional investors and hedge funds have recently modified their holdings of the business. Commonwealth Equity Services LLC raised its position in shares of Paycom Software by 17.2% during the 3rd quarter. Commonwealth Equity Services LLC now owns 27,629 shares of the software maker’s stock worth $7,164,000 after purchasing an additional 4,046 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in shares of Paycom Software by 12.0% during the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 13,951 shares of the software maker’s stock valued at $3,617,000 after acquiring an additional 1,500 shares during the period. Cambridge Investment Research Advisors Inc. grew its position in shares of Paycom Software by 31.9% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 24,319 shares of the software maker’s stock worth $6,305,000 after acquiring an additional 5,888 shares during the last quarter. Raymond James & Associates increased its holdings in shares of Paycom Software by 18.4% in the 3rd quarter. Raymond James & Associates now owns 12,450 shares of the software maker’s stock worth $3,228,000 after acquiring an additional 1,935 shares during the period. Finally, Raymond James Financial Services Advisors Inc. lifted its position in Paycom Software by 19.2% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 27,862 shares of the software maker’s stock valued at $7,224,000 after purchasing an additional 4,495 shares during the last quarter. 87.77% of the stock is 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.