JPMorgan Chase & Co. Increases Paycom Software (NYSE:PAYC) Price Target to $175.00

Paycom Software (NYSE:PAYC) had its target price raised by stock analysts at JPMorgan Chase & Co. from $165.00 to $175.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the software maker’s stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 6.63% from the stock’s current price.

Other research analysts have also issued research reports about the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Paycom Software in a research note on Thursday. Citigroup lowered their target price on shares of Paycom Software from $205.00 to $198.00 and set a “neutral” rating for the company in a report on Wednesday, January 31st. BMO Capital Markets dropped their price objective on Paycom Software from $200.00 to $190.00 and set a “market perform” rating for the company in a report on Thursday. UBS Group boosted their target price on Paycom Software from $235.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, January 10th. Finally, Piper Sandler increased their price target on shares of Paycom Software from $185.00 to $190.00 and gave the company a “neutral” rating in a research report on Thursday, February 8th. Seventeen equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $257.76.

Paycom Software Price Performance

Shares of PAYC traded down $22.12 on Thursday, hitting $164.12. The company’s stock had a trading volume of 1,384,376 shares, compared to its average volume of 850,500. The company has a market capitalization of $9.45 billion, a PE ratio of 27.93, a PEG ratio of 3.21 and a beta of 1.17. Paycom Software has a fifty-two week low of $146.15 and a fifty-two week high of $374.04. The company has a 50 day moving average price of $189.91 and a 200 day moving average price of $195.35.

Paycom Software (NYSE:PAYC) last announced its earnings results on Wednesday, February 7th. The software maker reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.78 by $0.15. The company had revenue of $434.60 million during the quarter, compared to analyst estimates of $422.50 million. Paycom Software had a return on equity of 24.60% and a net margin of 20.12%. The firm’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same period last year, the company posted $1.38 earnings per share. On average, equities analysts forecast that Paycom Software will post 5.73 EPS for the current year.

Institutional Trading of Paycom Software

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of Paycom Software by 1.2% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,500 shares of the software maker’s stock valued at $1,167,000 after purchasing an additional 52 shares in the last quarter. HBK Sorce Advisory LLC increased its position in shares of Paycom Software by 5.9% during the fourth quarter. HBK Sorce Advisory LLC now owns 986 shares of the software maker’s stock valued at $204,000 after acquiring an additional 55 shares during the last quarter. Renaissance Group LLC lifted its holdings in Paycom Software by 1.1% during the third quarter. Renaissance Group LLC now owns 5,391 shares of the software maker’s stock worth $1,398,000 after acquiring an additional 61 shares during the period. Optas LLC boosted its position in Paycom Software by 6.1% in the first quarter. Optas LLC now owns 1,059 shares of the software maker’s stock worth $211,000 after purchasing an additional 61 shares during the last quarter. Finally, Bouvel Investment Partners LLC grew its stake in Paycom Software by 1.0% in the 4th quarter. Bouvel Investment Partners LLC now owns 6,431 shares of the software maker’s stock valued at $1,329,000 after purchasing an additional 63 shares during the period. 87.77% of the stock is owned by institutional investors.

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.