Barclays Issues Pessimistic Forecast for Paycom Software (NYSE:PAYC) Stock Price

Paycom Software (NYSE:PAYC) had its target price lowered by equities researchers at Barclays from $250.00 to $225.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the software maker’s stock. Barclays‘s price objective would suggest a potential upside of 11.27% from the stock’s current price.

Several other equities analysts have also recently commented on the stock. BMO Capital Markets boosted their target price on shares of Paycom Software from $244.00 to $258.00 and gave the company a “market perform” rating in a research report on Thursday, August 7th. JPMorgan Chase & Co. boosted their target price on shares of Paycom Software from $215.00 to $235.00 and gave the company a “neutral” rating in a research report on Thursday, August 7th. TD Cowen upgraded shares of Paycom Software from a “hold” rating to a “buy” rating and boosted their target price for the company from $246.00 to $258.00 in a research report on Monday, September 22nd. Cantor Fitzgerald upgraded shares of Paycom Software to a “hold” rating in a research report on Thursday, September 11th. Finally, Jefferies Financial Group dropped their target price on shares of Paycom Software from $250.00 to $225.00 and set a “hold” rating for the company in a research report on Monday, October 13th. Four research analysts have rated the stock with a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat, Paycom Software has an average rating of “Hold” and a consensus target price of $243.69.

Paycom Software Stock Down 2.2%

Shares of Paycom Software stock opened at $202.21 on Tuesday. The company has a 50-day simple moving average of $215.35 and a two-hundred day simple moving average of $228.10. The stock has a market capitalization of $11.70 billion, a price-to-earnings ratio of 27.36, a price-to-earnings-growth ratio of 2.29 and a beta of 0.82. Paycom Software has a twelve month low of $162.62 and a twelve month high of $267.76.

Paycom Software (NYSE:PAYC) last issued its earnings results on Wednesday, August 6th. The software maker reported $2.06 EPS for the quarter, beating the consensus estimate of $1.78 by $0.28. The company had revenue of $483.60 million during the quarter, compared to analysts’ expectations of $472.00 million. Paycom Software had a net margin of 21.22% and a return on equity of 25.40%. The business’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period in the previous year, the company earned $1.62 EPS. On average, sell-side analysts anticipate that Paycom Software will post 7.15 earnings per share for the current fiscal year.

Insider Transactions at Paycom Software

In related news, insider Bradley Scott Smith sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $223.27, for a total transaction of $334,905.00. Following the completion of the transaction, the insider directly owned 24,533 shares in the company, valued at $5,477,482.91. This represents a 5.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 10.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Paycom Software

A number of institutional investors have recently added to or reduced their stakes in PAYC. Brighton Jones LLC bought a new stake in Paycom Software during the 4th quarter worth approximately $638,000. GAMMA Investing LLC grew its holdings in Paycom Software by 54.5% during the 1st quarter. GAMMA Investing LLC now owns 904 shares of the software maker’s stock worth $198,000 after acquiring an additional 319 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Paycom Software by 1.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 23,796 shares of the software maker’s stock worth $5,199,000 after acquiring an additional 367 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in Paycom Software by 13.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 14,316 shares of the software maker’s stock worth $3,128,000 after acquiring an additional 1,690 shares during the last quarter. Finally, Kentucky Retirement Systems grew its holdings in Paycom Software by 3.9% during the 1st quarter. Kentucky Retirement Systems now owns 3,476 shares of the software maker’s stock worth $759,000 after acquiring an additional 132 shares during the last quarter. 87.77% of the stock is owned by 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.