Barclays Issues Pessimistic Forecast for Paycom Software (NYSE:PAYC) Stock Price

Paycom Software (NYSE:PAYC) had its target price lowered by Barclays from $229.00 to $221.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the software maker’s stock. Barclays‘s price target points to a potential upside of 6.49% from the company’s current price.

Other analysts have also recently issued research reports about the company. Citigroup lowered their price objective on Paycom Software from $234.00 to $221.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Piper Sandler raised their price objective on Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. BMO Capital Markets raised their price objective on Paycom Software from $183.00 to $197.00 and gave the stock a “market perform” rating in a research report on Thursday, October 31st. Jefferies Financial Group raised their price objective on Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a research report on Thursday, October 31st. Finally, Mizuho lifted their price target on Paycom Software from $190.00 to $210.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. Twelve analysts have rated the stock with a hold rating, According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $204.75.

Paycom Software Price Performance

Paycom Software stock opened at $207.52 on Thursday. The stock has a market capitalization of $11.97 billion, a price-to-earnings ratio of 24.97, a PEG ratio of 2.85 and a beta of 1.14. Paycom Software has a 1-year low of $139.50 and a 1-year high of $242.74. The business has a fifty day moving average price of $217.17 and a 200-day moving average price of $186.52.

Insider Buying and Selling at Paycom Software

In other Paycom Software news, CEO Chad R. Richison sold 1,950 shares of Paycom Software stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $172.43, for a total transaction of $336,238.50. Following the completion of the transaction, the chief executive officer now owns 2,750,910 shares in the company, valued at approximately $474,339,411.30. This trade represents a 0.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In the last quarter, insiders sold 15,600 shares of company stock worth $3,240,510. Insiders own 14.50% of the company’s stock.

Hedge Funds Weigh In On Paycom Software

Institutional investors and hedge funds have recently modified their holdings of the business. Nisa Investment Advisors LLC boosted its holdings in Paycom Software by 51.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,666 shares of the software maker’s stock worth $444,000 after buying an additional 905 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in Paycom Software by 14.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 326,018 shares of the software maker’s stock worth $54,305,000 after buying an additional 41,187 shares during the last quarter. Profund Advisors LLC acquired a new stake in Paycom Software in the 2nd quarter worth about $589,000. Sylebra Capital LLC boosted its holdings in Paycom Software by 53.9% in the 2nd quarter. Sylebra Capital LLC now owns 1,957,468 shares of the software maker’s stock worth $279,996,000 after buying an additional 685,190 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Paycom Software by 9.3% in the 3rd quarter. Principal Financial Group Inc. now owns 65,809 shares of the software maker’s stock worth $10,962,000 after buying an additional 5,574 shares during the last quarter. 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.