JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Paycom Software (NYSE:PAYC) Stock

Paycom Software (NYSE:PAYC) had its price target lifted by equities researchers at JPMorgan Chase & Co. from $185.00 to $200.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the software maker’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential downside of 2.20% from the company’s previous close.

Several other research analysts have also weighed in on PAYC. Piper Sandler boosted their price target on Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. TD Cowen boosted their target price on shares of Paycom Software from $193.00 to $248.00 and gave the stock a “hold” rating in a report on Monday, December 9th. Jefferies Financial Group upped their price target on shares of Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a research report on Thursday, October 31st. Needham & Company LLC reissued a “hold” rating on shares of Paycom Software in a research report on Thursday. Finally, Barclays dropped their target price on shares of Paycom Software from $229.00 to $221.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Eleven analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $205.56.

Paycom Software Trading Down 1.2 %

Shares of Paycom Software stock traded down $2.55 during trading on Thursday, reaching $204.50. The stock had a trading volume of 426,606 shares, compared to its average volume of 509,670. The company has a market capitalization of $11.79 billion, a price-to-earnings ratio of 24.61, a P/E/G 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. The stock has a fifty day moving average price of $211.23 and a two-hundred day moving average price of $191.38.

Paycom Software (NYSE:PAYC) last released its quarterly earnings results on Wednesday, February 12th. The software maker reported $2.02 earnings per share for the quarter, topping 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 forecast that Paycom Software will post 6.88 EPS for the current fiscal year.

Hedge Funds Weigh In On Paycom Software

Institutional investors and hedge funds have recently made changes to their positions in the company. Murphy & Mullick Capital Management Corp bought a new stake in Paycom Software in the 4th quarter valued at $30,000. Brooklyn Investment Group acquired a new position in shares of Paycom Software in the third quarter valued at about $28,000. Pin Oak Investment Advisors Inc. increased its position in Paycom Software by 73.3% during the third quarter. Pin Oak Investment Advisors Inc. now owns 182 shares of the software maker’s stock worth $30,000 after acquiring an additional 77 shares during the period. IFP Advisors Inc raised its stake in Paycom Software by 635.7% in the 4th quarter. IFP Advisors Inc now owns 206 shares of the software maker’s stock worth $43,000 after purchasing an additional 178 shares in the last quarter. Finally, First Horizon Advisors Inc. boosted its holdings in Paycom Software by 821.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 212 shares of the software maker’s stock valued at $35,000 after purchasing an additional 189 shares during the period. Institutional investors and hedge funds 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.