Paycom Software, Inc. (NYSE:PAYC) had its target price raised by investment analysts at J P Morgan Chase & Co from $67.00 to $75.00 in a report released on Wednesday. The firm currently has a “neutral” rating on the software maker’s stock. J P Morgan Chase & Co’s target price would indicate a potential downside of 8.76% from the stock’s current price.

Several other equities analysts have also commented on the company. Wells Fargo & Company set a $89.00 target price on Paycom Software and gave the company a “buy” rating in a research note on Wednesday. Robert W. Baird reiterated a “buy” rating and issued a $82.00 target price on shares of Paycom Software in a research note on Wednesday. Credit Suisse Group lowered Paycom Software from an “outperform” rating to a “neutral” rating and set a $78.00 target price for the company. in a research note on Wednesday. Jefferies Group LLC upped their target price on Paycom Software to $95.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Northland Securities set a $85.00 target price on Paycom Software and gave the company a “buy” rating in a research note on Wednesday. Six analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Paycom Software has a consensus rating of “Buy” and an average target price of $81.06.

Paycom Software (PAYC) traded down 7.92% during trading on Wednesday, hitting $75.69. The stock had a trading volume of 652,231 shares. The stock’s 50-day moving average is $77.29 and its 200 day moving average is $70.33. The firm has a market cap of $4.39 billion, a price-to-earnings ratio of 82.09 and a beta of 1.72. Paycom Software has a one year low of $39.15 and a one year high of $82.59.

Paycom Software (NYSE:PAYC) last released its earnings results on Tuesday, October 31st. The software maker reported $0.29 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.10. The firm had revenue of $101.30 million during the quarter, compared to analyst estimates of $100.47 million. Paycom Software had a return on equity of 35.77% and a net margin of 14.28%. The business’s quarterly revenue was up 31.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.15 earnings per share. Equities analysts anticipate that Paycom Software will post $1.15 earnings per share for the current year.

ILLEGAL ACTIVITY NOTICE: “J P Morgan Chase & Co Boosts Paycom Software, Inc. (PAYC) Price Target to $75.00” was originally published by American Banking News and is the sole property of of American Banking News. If you are viewing this report on another site, it was copied illegally and republished in violation of U.S. & international copyright & trademark laws. The legal version of this report can be accessed at https://www.americanbankingnews.com/2017/11/01/j-p-morgan-chase-co-boosts-paycom-software-inc-payc-price-target-to-75-00.html.

In other news, insider Jeffrey D. York sold 40,000 shares of the company’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $74.81, for a total value of $2,992,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Craig E. Boelte sold 11,000 shares of the company’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $74.72, for a total value of $821,920.00. The disclosure for this sale can be found here. Insiders have sold 61,000 shares of company stock valued at $4,564,520 over the last 90 days. 17.90% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Bridgecreek Investment Management LLC boosted its position in shares of Paycom Software by 0.9% in the fourth quarter. Bridgecreek Investment Management LLC now owns 165,575 shares of the software maker’s stock worth $6,231,000 after buying an additional 1,426 shares during the period. Swiss National Bank boosted its position in shares of Paycom Software by 1.2% in the first quarter. Swiss National Bank now owns 69,597 shares of the software maker’s stock worth $4,003,000 after buying an additional 800 shares during the period. Henderson Group PLC purchased a new stake in shares of Paycom Software in the second quarter worth about $10,215,000. Eqis Capital Management Inc. boosted its position in shares of Paycom Software by 13.8% in the third quarter. Eqis Capital Management Inc. now owns 5,676 shares of the software maker’s stock worth $425,000 after buying an additional 687 shares during the period. Finally, Fisher Asset Management boosted its position in shares of Paycom Software by 10.8% in the fourth quarter. Fisher Asset Management now owns 93,909 shares of the software maker’s stock worth $3,534,000 after buying an additional 9,125 shares during the period. 86.42% of the stock is owned by institutional investors.

Paycom Software Company Profile

Paycom Software, Inc is a provider of a cloud-based human capital management (HCM) software solution delivered as Software-as-a-Service (SaaS). The Company provides functionality and data analytics that businesses need to manage the complete employment life cycle from recruitment to retirement. The Company’s applications streamline client processes and provide clients and their employees with the ability to directly access and manage administrative processes, including applications that identify candidates, on-board employees, manage time and labor, administer payroll deductions and benefits, manage performance, terminate employees and administer post-termination health benefits, such as COBRA.

Analyst Recommendations for Paycom Software (NYSE:PAYC)

Receive News & Ratings for Paycom Software Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paycom Software Inc. and related companies with MarketBeat.com's FREE daily email newsletter.