Paycom Software (NYSE:PAYC – Get Rating) had its price target boosted by Piper Sandler from $395.00 to $417.00 in a research note released on Wednesday, The Fly reports. Piper Sandler currently has an overweight rating on the software maker’s stock.
Other analysts have also issued research reports about the stock. StockNews.com assumed coverage on shares of Paycom Software in a research report on Wednesday, October 12th. They issued a hold rating on the stock. Wolfe Research lifted their price objective on shares of Paycom Software from $400.00 to $410.00 and gave the stock an outperform rating in a research report on Wednesday, November 2nd. Moffett Nathanson assumed coverage on shares of Paycom Software in a research report on Monday, January 9th. They issued an underperform rating and a $310.00 price objective on the stock. Citigroup lifted their price objective on shares of Paycom Software from $393.00 to $400.00 and gave the stock a buy rating in a research report on Wednesday, November 2nd. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Paycom Software from $425.00 to $400.00 and set a buy rating on the stock in a research report on Monday, January 23rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $387.00.
Paycom Software Stock Down 1.7 %
PAYC opened at $317.09 on Wednesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.16 and a quick ratio of 1.17. The company’s 50-day moving average is $313.95 and its 200 day moving average is $332.26. Paycom Software has a fifty-two week low of $255.82 and a fifty-two week high of $402.78. The firm has a market capitalization of $19.03 billion, a P/E ratio of 65.38, a PEG ratio of 2.19 and a beta of 1.34.
Paycom Software (NYSE:PAYC – Get Rating) last released its quarterly earnings results on Tuesday, February 7th. The software maker reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.49 by $0.24. Paycom Software had a net margin of 20.46% and a return on equity of 25.62%. The company had revenue of $370.61 million for the quarter, compared to analyst estimates of $366.71 million. During the same period last year, the firm earned $0.82 earnings per share. The firm’s revenue was up 30.0% on a year-over-year basis. Research analysts expect that Paycom Software will post 5.88 earnings per share for the current fiscal year.
Institutional Trading of Paycom Software
A number of institutional investors have recently made changes to their positions in the stock. Allianz Asset Management GmbH lifted its stake in shares of Paycom Software by 297.5% in the 2nd quarter. Allianz Asset Management GmbH now owns 578,175 shares of the software maker’s stock worth $161,958,000 after purchasing an additional 432,727 shares during the period. FMR LLC lifted its stake in shares of Paycom Software by 130.8% in the 2nd quarter. FMR LLC now owns 700,963 shares of the software maker’s stock worth $196,353,000 after purchasing an additional 397,296 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Paycom Software by 47.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 877,824 shares of the software maker’s stock worth $304,061,000 after purchasing an additional 283,892 shares during the period. Franklin Resources Inc. lifted its stake in shares of Paycom Software by 38.8% in the 4th quarter. Franklin Resources Inc. now owns 930,401 shares of the software maker’s stock worth $288,713,000 after purchasing an additional 260,146 shares during the period. Finally, Los Angeles Capital Management LLC raised its stake in Paycom Software by 373.7% during the 3rd quarter. Los Angeles Capital Management LLC now owns 283,116 shares of the software maker’s stock worth $93,425,000 after acquiring an additional 223,351 shares during the period. Hedge funds and other institutional investors own 88.58% of the company’s stock.
About Paycom Software
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Paycom Software, Inc engages in the provision of cloud-based human capital management (HCM) software solutions delivered as Software-as-a-Service. It offers functionality and data analytics that businesses need to manage the complete employment life cycle from recruitment to retirement. Its solutions include talent acquisition, time and labor management, payroll, talent management, and human resource management.
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