Paycom Software’s (PAYC) Hold Rating Reaffirmed at Needham & Company LLC

Paycom Software (NYSE:PAYC)‘s stock had its “hold” rating reiterated by research analysts at Needham & Company LLC in a research report issued to clients and investors on Thursday,Benzinga reports.

Several other analysts have also recently commented on PAYC. Jefferies Financial Group raised their target price on shares of Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a research note on Thursday, October 31st. TD Cowen lifted their price objective on Paycom Software from $193.00 to $248.00 and gave the company a “hold” rating in a report on Monday, December 9th. BMO Capital Markets increased their target price on Paycom Software from $183.00 to $197.00 and gave the stock a “market perform” rating in a research note on Thursday, October 31st. Piper Sandler lifted their price target on Paycom Software from $160.00 to $191.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, Barclays cut their price objective on Paycom Software from $229.00 to $221.00 and set an “equal weight” rating for the company in a research report on Thursday, January 23rd. Ten investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $204.75.

Paycom Software Stock Up 2.2 %

Shares of PAYC stock opened at $207.77 on Thursday. The stock’s 50-day moving average price is $211.71 and its 200 day moving average price is $191.26. The stock has a market capitalization of $11.98 billion, a PE ratio of 25.00, a price-to-earnings-growth ratio of 2.81 and a beta of 1.15. Paycom Software has a 52-week low of $139.50 and a 52-week high of $242.74.

Paycom Software (NYSE:PAYC) last released its earnings results on Wednesday, February 12th. The software maker reported $2.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.99 by $0.03. Paycom Software had a return on equity of 32.90% and a net margin of 25.78%. Analysts expect that Paycom Software will post 6.88 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Paycom Software

Several hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its position in shares of Paycom Software by 26.7% in the third quarter. GAMMA Investing LLC now owns 323 shares of the software maker’s stock valued at $54,000 after purchasing an additional 68 shares during the last quarter. CWM LLC raised its holdings in shares of Paycom Software by 20.1% in the third quarter. CWM LLC now owns 2,008 shares of the software maker’s stock worth $334,000 after acquiring an additional 336 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in shares of Paycom Software by 200.0% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 300 shares of the software maker’s stock worth $50,000 after acquiring an additional 200 shares during the last quarter. Exchange Traded Concepts LLC purchased a new stake in shares of Paycom Software in the third quarter valued at $265,000. Finally, Procyon Advisors LLC acquired a new stake in shares of Paycom Software during the third quarter valued at $204,000. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Paycom Software Company Profile

Paycom Software, Inc provides cloud-based human capital management (HCM) solution delivered as software-as-a-service for small to mid-sized companies in the United States. It offers functionality and data analytics that businesses need to manage the employment life cycle from recruitment to retirement.