Paycom Software (NYSE: PAYC) PT lowered to $308.00

ByLance T. Lee

Jul 18, 2022

Paycom software (NYSE: PAYC – Get a rating) saw its target price lowered by research analysts to Barclays from $334.00 to $308.00 in a research report delivered to clients and investors on Monday, Fly reports. BarclaysThe stock price target would indicate a potential upside of 2.04% from the current stock price.

Several other stock analysts have also recently commented on PAYC. Credit Suisse Group reduced its target price on Paycom Software from $425.00 to $350.00 in a Wednesday May 4 research note. Piper Sandler lowered its price target on Paycom Software from $505.00 to $430.00 in a Wednesday, May 4 report. Deutsche Bank Aktiengesellschaft lowered its price target on Paycom Software from $450.00 to $425.00 in a Wednesday, May 4 research note. TheStreet downgraded Paycom Software from a “b-” rating to a “c+” rating in a Monday, May 2 report. Finally, Oppenheimer lowered its price target on Paycom Software from $415.00 to $350.00 in a Wednesday, May 4 research note. Five equity research analysts gave the stock a hold rating and nine gave the stock a buy rating. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $374.92.

Paycom Software Price Performance

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NYSE PAYC shares opened at $301.83 on Monday. The stock has a market capitalization of $18.19 billion, a P/E ratio of 78.60, a P/E/G ratio of 2.81 and a beta of 1.48. The company has a debt ratio of 0.03, a current ratio of 1.08 and a quick ratio of 1.08. Paycom Software has a 1 year minimum of $255.82 and a 1 year maximum of $558.97. The company’s 50-day moving average is $287.93 and its 200-day moving average is $315.19.

Paycom software (NYSE: PAYC – Get a rating) last reported results on Tuesday, May 3. The software maker reported earnings per share (EPS) of $1.56 for the quarter, beating the consensus estimate of $1.42 by $0.14. Paycom Software achieved a net margin of 19.64% and a return on equity of 25.12%. The company posted revenue of $353.52 million in the quarter, versus analyst estimates of $343.20 million. In the same quarter last year, the company achieved EPS of $1.10. The company’s revenue increased 29.9% year over year. On average, sell-side analysts expect Paycom Software to post earnings per share of 4.3 for the current year.

Paycom Software announced that its board of directors authorized a stock repurchase program on Tuesday, June 7 that allows the company to repurchase $550.00 million of outstanding stock. This repurchase authorization allows the software publisher to repurchase up to 3% of its shares through purchases on the open market. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Activity at Paycom Software

In related news, EVP Justin Devon Long sold 151 shares of the company in a trade dated Wednesday, May 11. The shares were sold at an average price of $275.23, for a total transaction of $41,559.73. Following the completion of the sale, the executive vice president now directly owns 2,956 shares of the company, valued at $813,579.88. The transaction was disclosed in an SEC filing, which is available via the SEC website. Separately, Chief Financial Officer Craig E. Boelte sold 2,709 shares of the company in a trade dated Wednesday, May 11. The shares were sold at an average price of $275.24, for a total value of $745,625.16. Following the completion of the sale, the CFO now owns 260,773 shares of the company, valued at $71,775,160.52. The sale was disclosed in a legal filing with the SEC, which is available via the SEC website. Also, VPE Justin Devon Long sold 151 shares of the company in a trade on Wednesday, May 11. The shares were sold at an average price of $275.23, for a total value of $41,559.73. Following the completion of the sale, the executive vice president now directly owns 2,956 shares of the company, valued at approximately $813,579.88. Disclosure of this sale can be found here. During the last quarter, insiders sold 19,721 shares of the company worth $5,441,538. 15.20% of the shares are held by insiders of the company.

Hedge funds weigh in on Paycom software

A number of hedge funds have recently changed their positions in PAYC. Quadrant Capital Group LLC increased its stake in Paycom Software by 54.8% during the 4th quarter. Quadrant Capital Group LLC now owns 96 shares of the software maker valued at $40,000 after buying 34 additional shares during the period. Kathleen S. Wright Associates Inc. acquired a new stake in Paycom Software in the fourth quarter worth approximately $42,000. Ahrens Investment Partners LLC acquired a new stake in the shares of Paycom Software in the fourth quarter at a value of $44,000. Allworth Financial LP increased its stake in Paycom Software by 157.1% in the 1st quarter. Allworth Financial LP now owns 108 shares of the software maker valued at $37,000 after buying 66 more shares in the last quarter. Finally, Covestor Ltd purchased a new equity stake in Paycom Software in Q4 worth approximately $54,000. Hedge funds and other institutional investors own 87.12% of the company’s shares.

Paycom Software Company Profile

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Paycom Software, Inc provides a cloud-based Human Capital Management (HCM) solution delivered as software as a service for small and medium businesses in the United States. It offers the features and data analytics companies need to manage the employment lifecycle from recruitment to retirement.

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Analyst Recommendations for Paycom Software (NYSE: PAYC)

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