Jefferies Financial Group Raises Paycom Software (NYSE:PAYC) Price Target to $170.00

Paycom Software (NYSE:PAYC) had its target price upped by research analysts at Jefferies Financial Group from $155.00 to $170.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has a “hold” rating on the software maker’s stock. Jefferies Financial Group’s price objective indicates a potential upside of 1.30% from the stock’s current price.

Other equities analysts also recently issued research reports about the company. Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a research report on Thursday, August 1st. Barclays increased their target price on shares of Paycom Software from $167.00 to $172.00 and gave the stock an “equal weight” rating in a report on Friday, October 11th. TD Cowen boosted their price target on shares of Paycom Software from $171.00 to $188.00 and gave the company a “hold” rating in a report on Monday, September 23rd. Finally, StockNews.com downgraded shares of Paycom Software from a “buy” rating to a “hold” rating in a research note on Monday, July 15th. Seventeen analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $182.25.

Paycom Software Price Performance

Shares of PAYC opened at $167.82 on Tuesday. The firm has a market capitalization of $9.75 billion, a price-to-earnings ratio of 20.44, a PEG ratio of 2.33 and a beta of 1.17. The company has a 50-day moving average of $164.48 and a 200 day moving average of $164.38. Paycom Software has a 1-year low of $139.50 and a 1-year high of $264.70.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings results on Wednesday, July 31st. The software maker reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.07. Paycom Software had a return on equity of 33.36% and a net margin of 26.55%. The firm had revenue of $437.51 million during the quarter, compared to analyst estimates of $436.19 million. On average, equities analysts anticipate that Paycom Software will post 6.67 earnings per share for the current fiscal year.

Insider Activity at Paycom Software

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $155.63, for a total value of $303,478.50. Following the completion of the sale, the chief executive officer now owns 2,978,858 shares of the company’s stock, valued at approximately $463,599,670.54. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Bradley Scott Smith sold 1,524 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $157.62, for a total transaction of $240,212.88. Following the sale, the insider now directly owns 14,769 shares of the company’s stock, valued at $2,327,889.78. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Chad R. Richison sold 1,950 shares of the company’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $155.63, for a total value of $303,478.50. Following the completion of the transaction, the chief executive officer now directly owns 2,978,858 shares in the company, valued at approximately $463,599,670.54. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 71,906 shares of company stock valued at $11,697,727 in the last ninety days. Corporate insiders own 14.50% of the company’s stock.

Institutional Trading of Paycom Software

Several large investors have recently added to or reduced their stakes in PAYC. Ashton Thomas Private Wealth LLC purchased a new position in shares of Paycom Software in the second quarter worth about $25,000. Mather Group LLC. purchased a new stake in Paycom Software in the first quarter valued at $26,000. MFA Wealth Advisors LLC acquired a new stake in Paycom Software during the 2nd quarter worth about $26,000. Armstrong Advisory Group Inc. acquired a new stake in Paycom Software during the 3rd quarter worth about $26,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Paycom Software during the 2nd quarter valued at about $27,000. Hedge funds and other institutional investors own 87.77% of the company’s stock.

About Paycom Software

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.