Paycom Software (NYSE:PAYC) Given New $297.00 Price Target at KeyCorp

Paycom Software (NYSE:PAYC) had its target price hoisted by KeyCorp from $295.00 to $297.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the software maker’s stock. KeyCorp‘s price objective indicates a potential upside of 11.90% from the stock’s previous close.

A number of other research firms have also commented on PAYC. Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a research report on Thursday. Guggenheim raised their price objective on shares of Paycom Software from $225.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, October 23rd. Stifel Nicolaus raised their target price on Paycom Software from $120.00 to $200.00 and gave the stock a “hold” rating in a report on Thursday, August 6th. TD Cowen boosted their price objective on shares of Paycom Software from $244.00 to $286.00 and gave the company a “buy” rating in a research report on Friday, October 2nd. Finally, Bank of America initiated coverage on shares of Paycom Software in a research note on Tuesday, September 29th. They set an “underperform” rating and a $200.00 price objective for the company. Four investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Paycom Software has an average rating of “Hold” and an average price target of $256.36.

Paycom Software Stock Down 1.0%

Shares of PAYC stock traded down $2.74 during trading on Thursday, hitting $265.42. 398,053 shares of the company were exchanged, compared to its average volume of 1,155,548. The company has a debt-to-equity ratio of 1.57, a quick ratio of 1.07 and a current ratio of 1.07. The firm has a market capitalization of $11.96 billion, a price-to-earnings ratio of 27.99, a P/E/G ratio of 1.41 and a beta of 0.75. The business’s 50-day simple moving average is $237.97 and its 200 day simple moving average is $165.78. Paycom Software has a twelve month low of $104.90 and a twelve month high of $275.22.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings data on Wednesday, November 4th. The software maker reported $3.37 EPS for the quarter, beating analysts’ consensus estimates of $2.81 by $0.56. Paycom Software had a net margin of 22.78% and a return on equity of 37.06%. The firm had revenue of $543.80 million for the quarter, compared to the consensus estimate of $535.26 million. During the same period in the previous year, the firm posted $1.94 earnings per share. The firm’s revenue was up 10.2% on a year-over-year basis. As a group, analysts forecast that Paycom Software will post 10.80 EPS for the current fiscal year.

Insider Transactions at Paycom Software

In related news, insider Shane Hadlock sold 241 shares of the stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $240.07, for a total transaction of $57,856.87. Following the completion of the sale, the insider directly owned 69,911 shares of the company’s stock, valued at approximately $16,783,533.77. This trade represents a 0.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 13.20% of the company’s stock.

Hedge Funds Weigh In On Paycom Software

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. TD Waterhouse Canada Inc. bought a new stake in shares of Paycom Software during the 3rd quarter valued at about $25,000. Laurel Wealth Advisors LLC bought a new position in shares of Paycom Software in the 3rd quarter worth approximately $28,000. Caitlin John LLC purchased a new position in shares of Paycom Software in the second quarter worth approximately $31,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of Paycom Software in the second quarter worth approximately $33,000. Finally, EFG International AG purchased a new position in shares of Paycom Software in the second quarter worth approximately $36,000. Institutional investors own 87.77% of the company’s stock.

Paycom Software News Summary

Here are the key news stories impacting Paycom Software this week:

• Positive Sentiment: Q3 earnings were $3.37 per share, ahead of estimates, while revenue of $543.8 million also beat expectations and grew 10.2% year over year. Paycom also raised its revenue guidance. Paycom Q3 earnings and revenue beat estimates
• Positive Sentiment: The company declared its first cash dividend, adding a direct shareholder-return component. Paycom declares first cash dividend
• Negative Sentiment: BTIG Research cut its rating from Buy to Neutral. Separately, commentary questioned whether PAYC is fully valued despite the raised guidance, suggesting investors may see limited upside after the results. Paycom beats and lifts guidance, but is the stock fully valued?

Paycom Software Company Profile

Paycom Software, Inc is a provider of cloud-based human capital management (HCM) software designed to help businesses manage employee-related processes through a unified platform. Its solutions support payroll, human resources, talent acquisition and management, time and labor management, compliance, and employee engagement.

The company’s software is intended to allow employers and employees to enter and manage workforce information within a single system. Its offerings include payroll processing, benefits administration, expense management, scheduling, performance management, learning, and recruiting tools.