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

Paycom Software (NYSE:PAYC) had its price objective lowered by stock analysts at TD Cowen from $200.00 to $184.00 in a report released on Thursday,Benzinga reports. The firm presently has a “buy” rating on the software maker’s stock. TD Cowen’s target price suggests a potential upside of 17.10% from the company’s current price.

A number of other brokerages have also recently issued reports on PAYC. JPMorgan Chase & Co. reduced their price objective on shares of Paycom Software from $235.00 to $220.00 and set a “neutral” rating for the company in a research note on Thursday, November 6th. Mizuho cut their price target on Paycom Software from $220.00 to $180.00 and set a “neutral” rating for the company in a research note on Thursday, November 6th. Jefferies Financial Group decreased their price target on Paycom Software from $225.00 to $190.00 and set a “hold” rating on the stock in a report on Thursday, November 6th. Cantor Fitzgerald raised Paycom Software to a “hold” rating in a research note on Thursday, September 11th. Finally, Guggenheim started coverage on Paycom Software in a research note on Friday, September 26th. They set a “buy” rating and a $270.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $219.86.

Paycom Software Stock Performance

NYSE:PAYC opened at $157.13 on Thursday. The stock has a 50-day simple moving average of $163.37 and a two-hundred day simple moving average of $199.83. The firm has a market capitalization of $8.84 billion, a PE ratio of 19.54, a P/E/G ratio of 1.62 and a beta of 0.82. Paycom Software has a 52-week low of $151.74 and a 52-week high of $267.76.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings data 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 company had revenue of $493.30 million for the quarter, compared to analysts’ expectations of $492.62 million. Paycom Software had a net margin of 22.65% and a return on equity of 24.79%. The firm’s quarterly revenue was up 9.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.67 earnings per share. Equities analysts forecast that Paycom Software will post 7.15 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Paycom Software news, CFO Robert D. Foster sold 1,300 shares of Paycom Software stock in a transaction that occurred on Wednesday, December 10th. The stock was 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. The trade was a 8.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 10.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PAYC. True Wealth Design LLC lifted its position in Paycom Software by 946.7% during the fourth quarter. True Wealth Design LLC now owns 157 shares of the software maker’s stock valued at $25,000 after purchasing an additional 142 shares during the last quarter. Regent Peak Wealth Advisors LLC lifted its holdings in shares of Paycom Software by 17.6% in the 4th quarter. Regent Peak Wealth Advisors LLC now owns 1,277 shares of the software maker’s stock valued at $204,000 after acquiring an additional 191 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in Paycom Software by 3.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 20,685 shares of the software maker’s stock worth $3,238,000 after acquiring an additional 715 shares in the last quarter. Nordea Investment Management AB increased its stake in Paycom Software by 203.1% during the fourth quarter. Nordea Investment Management AB now owns 190,276 shares of the software maker’s stock worth $30,336,000 after acquiring an additional 127,493 shares during the last quarter. Finally, Procyon Advisors LLC raised its position in Paycom Software by 11.3% during the fourth quarter. Procyon Advisors LLC now owns 7,439 shares of the software maker’s stock valued at $1,185,000 after purchasing an additional 754 shares during the period. 87.77% of the stock is owned by hedge funds and other institutional investors.

Paycom Software Company Profile

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.