Paycom Software (NYSE:PAYC) Price Target Cut to $185.00 by Analysts at Barclays

Paycom Software (NYSE:PAYC) had its price target dropped by investment analysts at Barclays from $210.00 to $185.00 in a report released on Monday,Benzinga reports. The firm presently has an “equal weight” rating on the software maker’s stock. Barclays‘s price target suggests a potential upside of 17.31% from the stock’s current price.

PAYC has been the topic of several other research reports. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Paycom Software in a research note on Monday, December 29th. Zacks Research raised Paycom Software from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 20th. BTIG Research began coverage on Paycom Software in a report on Wednesday, December 17th. They issued a “buy” rating and a $195.00 price target for the company. Guggenheim started coverage on Paycom Software in a research note on Friday, September 26th. They set a “buy” rating and a $270.00 price objective for the company. Finally, KeyCorp cut their target price on Paycom Software from $290.00 to $250.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and twelve have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $218.07.

Paycom Software Stock Performance

Shares of NYSE:PAYC traded up $0.54 during midday trading on Monday, hitting $157.71. 414,631 shares of the company’s stock traded hands, compared to its average volume of 674,533. The firm’s fifty day moving average price is $163.37 and its two-hundred day moving average price is $199.41. Paycom Software has a twelve month low of $151.74 and a twelve month high of $267.76. The company has a market cap of $8.87 billion, a PE ratio of 19.62, a P/E/G ratio of 1.61 and a beta of 0.82.

Paycom Software (NYSE:PAYC) last released its quarterly earnings data on Wednesday, November 5th. The software maker reported $1.94 EPS for the quarter, missing the consensus estimate of $1.96 by ($0.02). The company had revenue of $493.30 million during 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 company’s revenue for the quarter was up 9.2% compared to the same quarter last year. During the same period last year, the business earned $1.67 earnings per share. As a group, equities research analysts anticipate that Paycom Software will post 7.15 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Robert D. Foster sold 1,300 shares of the business’s stock in a transaction on Wednesday, December 10th. The shares were sold at an average price of $162.66, for a total transaction of $211,458.00. Following the transaction, the chief financial officer directly owned 14,747 shares in the company, 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 at this link. Corporate insiders own 10.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Czech National Bank raised its holdings in shares of Paycom Software by 1.3% in the fourth quarter. Czech National Bank now owns 12,886 shares of the software maker’s stock valued at $2,054,000 after purchasing an additional 170 shares during the last quarter. Salvus Wealth Management LLC boosted its holdings in shares of Paycom Software by 7.7% during the 4th quarter. Salvus Wealth Management LLC now owns 1,422 shares of the software maker’s stock worth $227,000 after buying an additional 102 shares during the period. Schaper Benz & Wise Investment Counsel Inc. WI lifted its holdings in Paycom Software by 67.4% during the 4th quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 41,381 shares of the software maker’s stock worth $6,595,000 after purchasing an additional 16,656 shares during the last quarter. Pensionfund Sabic bought a new stake in Paycom Software in the 4th quarter valued at about $956,000. Finally, Focus Financial Network Inc. increased its holdings in Paycom Software by 43.9% in the 4th quarter. Focus Financial Network Inc. now owns 1,751 shares of the software maker’s stock valued at $279,000 after buying an additional 534 shares during the period. 87.77% of the stock is owned by institutional investors and hedge funds.

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.