Paycom Software (NYSE:PAYC) Price Target Raised to $264.00

Paycom Software (NYSE:PAYC) had its price objective hoisted by JPMorgan Chase & Co. from $140.00 to $264.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the software maker’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 14.92% from the stock’s current price.

Several other analysts also recently commented on PAYC. Mizuho increased their price objective on Paycom Software from $120.00 to $130.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Zacks Research raised Paycom Software from a “hold” rating to a “strong-buy” rating in a research report on Monday, May 18th. BMO Capital Markets increased their price target on Paycom Software from $145.00 to $208.00 and gave the company a “market perform” rating in a research report on Thursday, August 6th. Weiss Ratings upgraded Paycom Software from a “hold (c-)” rating to a “hold (c)” rating in a research note on Tuesday, August 11th. Finally, BTIG Research lifted their price objective on shares of Paycom Software from $160.00 to $230.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $208.08.

Paycom Software Trading Up 0.3%

NYSE:PAYC opened at $229.72 on Tuesday. The company has a debt-to-equity ratio of 1.57, a current ratio of 1.07 and a quick ratio of 1.07. Paycom Software has a one year low of $104.90 and a one year high of $234.60. The company has a market cap of $10.35 billion, a PE ratio of 24.41, a PEG ratio of 1.29 and a beta of 0.75. The firm has a 50-day moving average of $162.48 and a 200-day moving average of $140.64.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings results on Wednesday, August 5th. The software maker reported $2.78 earnings per share for the quarter, beating the consensus estimate of $2.38 by $0.40. The business had revenue of $531.20 million for the quarter, compared to analysts’ expectations of $513.12 million. Paycom Software had a net margin of 22.78% and a return on equity of 37.06%. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter last year, the firm earned $2.06 EPS. As a group, equities research analysts expect that Paycom Software will post 10.48 EPS for the current fiscal year.

Institutional Trading of Paycom Software

A number of hedge funds have recently bought and sold shares of PAYC. California State Teachers Retirement System raised its stake in shares of Paycom Software by 9,363.4% during the 2nd quarter. California State Teachers Retirement System now owns 5,681,993 shares of the software maker’s stock worth $714,113,000 after purchasing an additional 5,621,951 shares during the period. BlackRock Inc. bought a new position in Paycom Software during the second quarter valued at about $632,460,000. Reinhart Partners LLC. grew its position in Paycom Software by 887.4% during the fourth quarter. Reinhart Partners LLC. now owns 598,323 shares of the software maker’s stock valued at $95,351,000 after buying an additional 537,726 shares during the period. Contour Asset Management LLC purchased a new stake in Paycom Software during the fourth quarter worth about $60,333,000. Finally, Two Sigma Investments LP increased its holdings in Paycom Software by 228.7% during the third quarter. Two Sigma Investments LP now owns 532,124 shares of the software maker’s stock worth $110,756,000 after buying an additional 370,219 shares during the last quarter. 87.77% of the stock is currently owned by institutional investors.

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.