Paycom Software (NYSE:PAYC) Stock Price Expected to Rise, Jefferies Financial Group Analyst Says

Paycom Software (NYSE:PAYC) had its target price boosted by equities researchers at Jefferies Financial Group from $170.00 to $175.00 in a report released on Thursday, Benzinga reports. The firm currently has a “hold” rating on the software maker’s stock. Jefferies Financial Group’s target price indicates a potential downside of 16.92% from the stock’s previous close.

A number of other brokerages have also recently commented on PAYC. StockNews.com cut Paycom Software from a “buy” rating to a “hold” rating in a report on Monday, July 15th. TD Cowen increased their price objective on Paycom Software from $171.00 to $188.00 and gave the company a “hold” rating in a research note on Monday, September 23rd. BMO Capital Markets boosted their target price on shares of Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a research note on Thursday. Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a research note on Thursday, August 1st. Finally, Barclays boosted their price objective on shares of Paycom Software from $167.00 to $172.00 and gave the company an “equal weight” rating in a research report on Friday, October 11th. Thirteen research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Paycom Software presently has an average rating of “Hold” and a consensus target price of $190.80.

Paycom Software Stock Up 0.8 %

Paycom Software stock opened at $210.65 on Thursday. The firm has a market capitalization of $12.10 billion, a PE ratio of 25.35, a P/E/G ratio of 2.45 and a beta of 1.17. Paycom Software has a 52 week low of $139.50 and a 52 week high of $222.30. The firm’s 50-day simple moving average is $167.57 and its 200 day simple moving average is $163.35.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings results on Wednesday, July 31st. The software maker reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.07. Paycom Software had a net margin of 25.78% and a return on equity of 33.34%. The company had revenue of $437.51 million for the quarter, compared to the consensus estimate of $436.19 million. On average, research analysts expect that Paycom Software will post 6.64 EPS for the current fiscal year.

Insider Transactions at Paycom Software

In other news, insider Bradley Scott Smith sold 1,524 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $157.62, for a total transaction of $240,212.88. Following the completion of the sale, the insider now owns 14,769 shares in the company, valued at approximately $2,327,889.78. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $172.43, for a total value of $336,238.50. Following the completion of the sale, the chief executive officer now owns 2,750,910 shares of the company’s stock, valued at $474,339,411.30. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Bradley Scott Smith sold 1,524 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $157.62, for a total value of $240,212.88. Following the completion of the sale, the insider now owns 14,769 shares of the company’s stock, valued at approximately $2,327,889.78. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 71,906 shares of company stock worth $11,731,540 in the last three months. 14.50% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Sylebra Capital LLC purchased a new stake in shares of Paycom Software during the first quarter worth about $253,196,000. Federated Hermes Inc. increased its holdings in Paycom Software by 1,011.2% during the 2nd quarter. Federated Hermes Inc. now owns 581,964 shares of the software maker’s stock worth $83,244,000 after purchasing an additional 529,591 shares during the last quarter. International Assets Investment Management LLC raised its position in shares of Paycom Software by 9,997.5% in the 3rd quarter. International Assets Investment Management LLC now owns 281,315 shares of the software maker’s stock valued at $46,859,000 after purchasing an additional 278,529 shares in the last quarter. Confluence Investment Management LLC boosted its stake in shares of Paycom Software by 147.3% during the 3rd quarter. Confluence Investment Management LLC now owns 377,876 shares of the software maker’s stock valued at $62,943,000 after buying an additional 225,081 shares during the last quarter. Finally, Raymond James & Associates grew its position in shares of Paycom Software by 769.2% during the second quarter. Raymond James & Associates now owns 201,366 shares of the software maker’s stock worth $28,803,000 after buying an additional 178,198 shares in the last quarter. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

About Paycom Software

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.