Paycom Software (NYSE:PAYC) Price Target Lowered to $187.00 at Stifel Nicolaus

Paycom Software (NYSE:PAYC) had its price objective lowered by stock analysts at Stifel Nicolaus from $215.00 to $187.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “hold” rating on the software maker’s stock. Stifel Nicolaus’ price objective would suggest a potential downside of 8.00% from the stock’s current price.

Several other analysts have also recently commented on PAYC. TD Cowen increased their price target on shares of Paycom Software from $193.00 to $248.00 and gave the company a “hold” rating in a research note on Monday, December 9th. BMO Capital Markets increased their price target 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, October 31st. Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a report on Thursday. StockNews.com upgraded shares of Paycom Software from a “hold” rating to a “buy” rating in a report on Friday, January 31st. Finally, Piper Sandler increased their price objective on shares of Paycom Software from $160.00 to $191.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Eleven investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $202.78.

Paycom Software Stock Performance

Paycom Software stock traded down $3.79 during trading hours on Thursday, hitting $203.26. 180,343 shares of the stock were exchanged, compared to its average volume of 501,242. Paycom Software has a 12 month low of $139.50 and a 12 month high of $242.74. The business’s 50-day moving average is $211.23 and its two-hundred day moving average is $191.38. The stock has a market capitalization of $11.72 billion, a P/E ratio of 24.46, a P/E/G ratio of 2.81 and a beta of 1.15.

Paycom Software (NYSE:PAYC) last released its quarterly earnings results on Wednesday, February 12th. The software maker reported $2.02 EPS for the quarter, beating 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%. On average, equities analysts predict that Paycom Software will post 6.88 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Paycom Software

Several hedge funds have recently bought and sold shares of the company. Private Trust Co. NA raised its holdings in Paycom Software by 9.3% in the fourth quarter. Private Trust Co. NA now owns 575 shares of the software maker’s stock worth $118,000 after purchasing an additional 49 shares during the period. Oppenheimer & Co. Inc. raised its holdings in Paycom Software by 1.8% in the fourth quarter. Oppenheimer & Co. Inc. now owns 2,939 shares of the software maker’s stock worth $602,000 after purchasing an additional 51 shares during the period. Wrapmanager Inc. raised its holdings in Paycom Software by 2.6% in the third quarter. Wrapmanager Inc. now owns 2,176 shares of the software maker’s stock worth $362,000 after purchasing an additional 56 shares during the period. Andina Capital Management LLC raised its holdings in Paycom Software by 4.0% in the third quarter. Andina Capital Management LLC now owns 1,651 shares of the software maker’s stock worth $275,000 after purchasing an additional 63 shares during the period. Finally, GAMMA Investing LLC raised its holdings in Paycom Software by 26.7% in the third quarter. GAMMA Investing LLC now owns 323 shares of the software maker’s stock worth $54,000 after purchasing an additional 68 shares during the period. 87.77% of the stock is currently owned by institutional investors and hedge funds.

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.