Stifel Nicolaus Lowers Paycom Software (NYSE:PAYC) Price Target to $187.00

Paycom Software (NYSE:PAYC) had its price target dropped by stock analysts at Stifel Nicolaus from $215.00 to $187.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “hold” rating on the software maker’s stock. Stifel Nicolaus’ price target indicates a potential downside of 10.83% from the stock’s previous close.

A number of other brokerages also recently issued reports on PAYC. StockNews.com raised Paycom Software from a “hold” rating to a “buy” rating in a report on Friday, January 31st. Citigroup reduced their price objective on Paycom Software from $234.00 to $221.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. BMO Capital Markets boosted their price objective on Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a research note on Thursday, October 31st. Mizuho boosted their price objective on Paycom Software from $190.00 to $210.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Finally, Piper Sandler boosted their price objective on Paycom Software from $160.00 to $191.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Eleven analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $209.22.

Paycom Software Stock Down 1.1 %

Shares of PAYC opened at $209.72 on Thursday. The stock has a 50 day moving average price of $210.84 and a 200 day moving average price of $191.52. The company has a market capitalization of $12.09 billion, a price-to-earnings ratio of 25.24, 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 announced its quarterly 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%. On average, equities analysts anticipate that Paycom Software will post 6.88 EPS for the current fiscal year.

Institutional Investors Weigh In On Paycom Software

Several large investors have recently modified their holdings of the stock. GAMMA Investing LLC raised its position in Paycom Software by 26.7% in the third quarter. GAMMA Investing LLC now owns 323 shares of the software maker’s stock worth $54,000 after acquiring an additional 68 shares in the last quarter. CWM LLC raised its position in 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 in the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its position in 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 in the last quarter. Exchange Traded Concepts LLC purchased a new position in Paycom Software in the third quarter worth $265,000. Finally, Procyon Advisors LLC purchased a new position in Paycom Software in the third quarter worth $204,000. Hedge funds and other institutional investors own 87.77% of the company’s stock.

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.