Citigroup Has Lowered Expectations for Paycom Software (NYSE:PAYC) Stock Price

Paycom Software (NYSE:PAYC) had its price objective cut by Citigroup from $191.00 to $185.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the software maker’s stock. Citigroup’s target price points to a potential upside of 15.34% from the stock’s current price.

Other research analysts have also issued reports about the stock. KeyCorp cut their target price on shares of Paycom Software from $290.00 to $250.00 and set an “overweight” rating for the company in a research report on Thursday, November 6th. Zacks Research raised Paycom Software from a “strong sell” rating to a “hold” rating in a research note on Thursday, November 20th. Cantor Fitzgerald upgraded Paycom Software to a “hold” rating in a research report on Thursday, September 11th. Jefferies Financial Group decreased their price objective on Paycom Software from $225.00 to $190.00 and set a “hold” rating on the stock in a report on Thursday, November 6th. Finally, BTIG Research began coverage on Paycom Software in a research note on Wednesday, December 17th. They issued a “buy” rating and a $195.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $221.00.

Paycom Software Trading Up 0.5%

Shares of NYSE PAYC opened at $160.40 on Tuesday. Paycom Software has a 12 month low of $156.50 and a 12 month high of $267.76. The firm has a market capitalization of $9.03 billion, a price-to-earnings ratio of 19.95, a PEG ratio of 1.74 and a beta of 0.84. The business has a 50-day moving average of $172.86 and a 200-day moving average of $206.69.

Paycom Software (NYSE:PAYC) last announced 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). Paycom Software had a net margin of 22.65% and a return on equity of 24.79%. The company had revenue of $493.30 million during the quarter, compared to analysts’ expectations of $492.62 million. During the same period in the prior year, the business earned $1.67 earnings per share. The company’s revenue for the quarter was up 9.2% compared to the same quarter last year. On average, analysts predict that Paycom Software will post 7.15 earnings per share for the current year.

Insider Transactions at Paycom Software

In other Paycom Software news, CFO Robert D. Foster sold 1,300 shares of the firm’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $162.66, for a total value of $211,458.00. Following the sale, the chief financial officer owned 14,747 shares of the company’s stock, valued at $2,398,747.02. This trade represents a 8.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 10.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in PAYC. Strategic Advocates LLC bought a new position in Paycom Software in the third quarter worth $83,000. JPMorgan Chase & Co. grew its position in shares of Paycom Software by 9.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 375,019 shares of the software maker’s stock worth $78,056,000 after buying an additional 32,868 shares during the period. Court Place Advisors LLC grew its holdings in Paycom Software by 12.7% in the third quarter. Court Place Advisors LLC now owns 4,895 shares of the software maker’s stock worth $1,019,000 after purchasing an additional 550 shares during the period. CIBC Bancorp USA Inc. bought a new position in shares of Paycom Software in the third quarter worth approximately $1,453,000. Finally, Danske Bank A S purchased a new position in Paycom Software in the 3rd quarter worth approximately $6,158,000. Hedge funds and other institutional investors own 87.77% of the company’s stock.

About Paycom Software

Paycom Software, Inc (NYSE: PAYC) is a cloud-based human capital management (HCM) software provider that delivers an end-to-end solution for human resources, payroll, talent acquisition, time and labor management, and talent management. Its single-database platform enables organizations to process payroll, track time, administer benefits, and manage recruiting and employee development through a unified system. Paycom’s software is designed to streamline administrative tasks, improve data accuracy, and provide real-time reporting and analytics to support strategic HR decisions.

The company’s core offerings include payroll processing with built-in tax compliance, employee self-service functionality, automated time tracking, and customizable talent acquisition tools that allow employers to create and post job requisitions, screen candidates, and conduct onboarding electronically.