Paycom Software (NYSE:PAYC) Stock Price Expected to Rise, Piper Sandler Analyst Says

Paycom Software (NYSE:PAYC) had its target price upped by equities researchers at Piper Sandler from $191.00 to $224.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “neutral” rating on the software maker’s stock. Piper Sandler’s price target would suggest a potential upside of 5.55% from the company’s previous close.

Several other equities research analysts also recently weighed in on PAYC. Mizuho upped their target price on Paycom Software from $190.00 to $210.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. JPMorgan Chase & Co. upped their price target on Paycom Software from $185.00 to $200.00 and gave the stock a “neutral” rating in a report on Thursday. Citigroup lowered their price objective on shares of Paycom Software from $234.00 to $221.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a research report on Thursday. Finally, BMO Capital Markets raised their price target on shares of Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a report on Thursday, October 31st. Eleven research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $209.22.

Paycom Software Stock Performance

NYSE PAYC opened at $212.23 on Friday. The firm has a market capitalization of $12.24 billion, a price-to-earnings ratio of 25.54, a PEG ratio of 2.81 and a beta of 1.15. Paycom Software has a one year low of $139.50 and a one year high of $242.74. The company’s 50 day moving average price is $211.23 and its 200 day moving average price is $191.38.

Paycom Software (NYSE:PAYC) last released its quarterly earnings data on Wednesday, February 12th. The software maker reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.99 by $0.03. Paycom Software had a net margin of 25.78% and a return on equity of 32.90%. Sell-side analysts forecast that Paycom Software will post 6.88 EPS for the current fiscal year.

Hedge Funds Weigh In On Paycom Software

Several large investors have recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC increased its stake in Paycom Software by 51.4% during the third quarter. Nisa Investment Advisors LLC now owns 2,666 shares of the software maker’s stock valued at $444,000 after purchasing an additional 905 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Paycom Software by 14.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 326,018 shares of the software maker’s stock valued at $54,305,000 after buying an additional 41,187 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Paycom Software by 9.3% in the 3rd quarter. Principal Financial Group Inc. now owns 65,809 shares of the software maker’s stock valued at $10,962,000 after buying an additional 5,574 shares during the period. FMR LLC grew its position in shares of Paycom Software by 55.0% during the 3rd quarter. FMR LLC now owns 1,007,919 shares of the software maker’s stock valued at $167,889,000 after buying an additional 357,723 shares during the last quarter. Finally, Nordea Investment Management AB raised its stake in Paycom Software by 3.5% during the fourth quarter. Nordea Investment Management AB now owns 204,377 shares of the software maker’s stock worth $41,952,000 after acquiring an additional 6,916 shares during the period. 87.77% of the stock is currently owned by institutional investors.

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.