Barclays Boosts Paycom Software (NYSE:PAYC) Price Target to $154.00

Paycom Software (NYSE:PAYC) had its price target hoisted by stock analysts at Barclays from $148.00 to $154.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the software maker’s stock. Barclays‘s price target would indicate a potential upside of 10.48% from the company’s previous close.

A number of other equities research analysts have also weighed in on the stock. Weiss Ratings raised shares of Paycom Software from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, July 16th. Citigroup increased their price target on shares of Paycom Software from $120.00 to $136.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Zacks Research upgraded Paycom Software from a “hold” rating to a “strong-buy” rating in a report on Monday, May 18th. BMO Capital Markets increased their target price on Paycom Software from $137.00 to $145.00 and gave the stock a “market perform” rating in a research report on Thursday, May 7th. Finally, Mizuho increased their target price on Paycom Software from $120.00 to $130.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $159.75.

Paycom Software Stock Performance

Shares of PAYC stock opened at $139.40 on Tuesday. The firm has a market capitalization of $6.64 billion, a price-to-earnings ratio of 16.12, a PEG ratio of 1.22 and a beta of 0.80. The stock has a fifty day moving average of $136.41 and a 200 day moving average of $133.27. Paycom Software has a 52 week low of $104.90 and a 52 week high of $248.95. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.83.

Paycom Software (NYSE:PAYC) last issued its quarterly earnings data on Wednesday, May 6th. The software maker reported $3.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.99 by $0.16. Paycom Software had a net margin of 22.44% and a return on equity of 28.34%. The business had revenue of $571.80 million for the quarter, compared to the consensus estimate of $564.37 million. During the same period in the previous year, the firm earned $2.80 EPS. The company’s quarterly revenue was up 7.8% compared to the same quarter last year. As a group, research analysts expect that Paycom Software will post 9.37 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. True Wealth Design LLC raised its holdings in Paycom Software by 946.7% in the 4th quarter. True Wealth Design LLC now owns 157 shares of the software maker’s stock worth $25,000 after acquiring an additional 142 shares during the last quarter. Brown Brothers Harriman & Co. boosted its stake in Paycom Software by 190.6% during the 4th quarter. Brown Brothers Harriman & Co. now owns 154 shares of the software maker’s stock valued at $25,000 after purchasing an additional 101 shares during the last quarter. Clearstead Advisors LLC boosted its stake in Paycom Software by 140.3% during the 4th quarter. Clearstead Advisors LLC now owns 161 shares of the software maker’s stock valued at $26,000 after purchasing an additional 94 shares during the last quarter. CYBER HORNET ETFs LLC bought a new stake in shares of Paycom Software in the 2nd quarter worth $29,000. Finally, MUFG Securities EMEA plc bought a new stake in shares of Paycom Software in the 2nd quarter worth $33,000. Institutional investors own 87.77% of the company’s stock.

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.