JPMorgan Chase & Co. Issues Pessimistic Forecast for Paycom Software (NYSE:PAYC) Stock Price

Paycom Software (NYSE:PAYC) had its price target dropped by JPMorgan Chase & Co. from $235.00 to $220.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the software maker’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 34.17% from the stock’s previous close.

A number of other analysts have also recently weighed in on the stock. TD Cowen lowered their target price on shares of Paycom Software from $258.00 to $200.00 and set a “buy” rating on the stock in a research note on Thursday. BMO Capital Markets upped 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 note on Thursday, August 7th. Jefferies Financial Group lowered their target price on shares of Paycom Software from $225.00 to $190.00 and set a “hold” rating on the stock in a research note on Thursday. KeyCorp lowered their target price on shares of Paycom Software from $290.00 to $250.00 and set an “overweight” rating on the stock in a research note on Thursday. Finally, Cantor Fitzgerald raised shares of Paycom Software to a “hold” rating in a research note on Thursday, September 11th. Four equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $225.77.

Paycom Software Stock Performance

Shares of NYSE:PAYC traded down $19.74 on Thursday, hitting $163.97. 2,049,676 shares of the company were exchanged, compared to its average volume of 644,386. The company’s 50 day moving average price is $208.39 and its two-hundred day moving average price is $226.92. Paycom Software has a one year low of $156.50 and a one year high of $267.76. The firm has a market capitalization of $9.49 billion, a price-to-earnings ratio of 22.19, a PEG ratio of 2.01 and a beta of 0.88.

Paycom Software (NYSE:PAYC) last posted its earnings results on Wednesday, November 5th. The software maker reported $1.94 earnings per share for the quarter, missing analysts’ consensus estimates of $1.96 by ($0.02). The business had revenue of $493.30 million during the quarter, compared to the consensus estimate of $492.62 million. Paycom Software had a net margin of 21.22% and a return on equity of 25.40%. The business’s revenue was up 9.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.67 EPS. Paycom Software has set its FY 2025 guidance at EPS. Research analysts predict that Paycom Software will post 7.15 earnings per share for the current year.

Insider Activity

In other 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 transaction, the insider directly owned 24,533 shares in the company, valued at approximately $5,477,482.91. This represents a 5.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 10.90% of the company’s stock.

Hedge Funds Weigh In On Paycom Software

A number of large investors have recently modified their holdings of PAYC. Kingsview Wealth Management LLC lifted its holdings in Paycom Software by 8.4% in the first quarter. Kingsview Wealth Management LLC now owns 1,478 shares of the software maker’s stock valued at $323,000 after buying an additional 114 shares during the period. Ethic Inc. acquired a new position in Paycom Software in the second quarter valued at approximately $566,000. Hussman Strategic Advisors Inc. acquired a new position in Paycom Software in the second quarter valued at approximately $2,916,000. Nisa Investment Advisors LLC lifted its holdings in Paycom Software by 88.1% in the second quarter. Nisa Investment Advisors LLC now owns 14,658 shares of the software maker’s stock valued at $3,392,000 after buying an additional 6,866 shares during the period. Finally, Jennison Associates LLC acquired a new position in Paycom Software in the second quarter valued at approximately $49,853,000. 87.77% of the stock is currently owned by institutional investors and hedge funds.

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.