Paycom Software (NYSE:PAYC) Price Target Cut to $162.00 by Analysts at Citigroup

Paycom Software (NYSE:PAYC) had its target price dropped by analysts at Citigroup from $193.00 to $162.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the software maker’s stock. Citigroup’s price objective points to a potential upside of 14.52% from the stock’s current price.

Other research analysts have also recently issued reports about the company. Barclays cut their price objective on Paycom Software from $193.00 to $184.00 and set an “equal weight” rating for the company in a report on Thursday, May 2nd. Mizuho lowered their target price on Paycom Software from $185.00 to $170.00 and set a “neutral” rating for the company in a research note on Monday, May 6th. StockNews.com upgraded Paycom Software from a “hold” rating to a “buy” rating in a research note on Tuesday, May 28th. JPMorgan Chase & Co. raised their target price on Paycom Software from $165.00 to $175.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. Finally, Needham & Company LLC restated a “hold” rating on shares of Paycom Software in a research note on Thursday, May 2nd. Sixteen analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $244.38.

Paycom Software Trading Down 1.0 %

PAYC stock traded down $1.43 during midday trading on Tuesday, hitting $141.46. The stock had a trading volume of 1,085,334 shares, compared to its average volume of 855,274. The firm has a market capitalization of $8.22 billion, a price-to-earnings ratio of 17.23, a P/E/G ratio of 2.20 and a beta of 1.17. Paycom Software has a 52 week low of $140.12 and a 52 week high of $374.04. The stock has a 50-day simple moving average of $172.66 and a 200 day simple moving average of $186.20.

Paycom Software (NYSE:PAYC) last issued its earnings results on Wednesday, May 1st. The software maker reported $4.25 EPS for the quarter, topping the consensus estimate of $1.96 by $2.29. The firm had revenue of $499.88 million during the quarter, compared to analysts’ expectations of $495.89 million. Paycom Software had a return on equity of 32.84% and a net margin of 26.91%. On average, equities analysts forecast that Paycom Software will post 6.26 EPS for the current year.

Insiders Place Their Bets

In related news, insider Jason D. Clark sold 906 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $143.61, for a total transaction of $130,110.66. Following the transaction, the insider now directly owns 43,367 shares of the company’s stock, valued at approximately $6,227,934.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Jason D. Clark sold 906 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $143.61, for a total transaction of $130,110.66. Following the transaction, the insider now directly owns 43,367 shares of the company’s stock, valued at approximately $6,227,934.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Amy Vickroy sold 1,381 shares of the company’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $143.39, for a total value of $198,021.59. Following the completion of the transaction, the executive vice president now directly owns 19,962 shares in the company, valued at $2,862,351.18. The disclosure for this sale can be found here. Insiders have sold 21,787 shares of company stock valued at $3,430,426 in the last 90 days. 12.60% of the stock is currently owned by insiders.

Institutional Trading of Paycom Software

Several institutional investors and hedge funds have recently modified their holdings of PAYC. Mather Group LLC. acquired a new position in Paycom Software in the 1st quarter worth about $26,000. Hexagon Capital Partners LLC increased its stake in shares of Paycom Software by 333.3% in the fourth quarter. Hexagon Capital Partners LLC now owns 130 shares of the software maker’s stock valued at $27,000 after buying an additional 100 shares during the period. Palisade Asset Management LLC acquired a new stake in shares of Paycom Software in the first quarter valued at about $32,000. Cary Street Partners Investment Advisory LLC increased its stake in shares of Paycom Software by 83.5% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 156 shares of the software maker’s stock valued at $40,000 after buying an additional 71 shares during the period. Finally, Transcendent Capital Group LLC acquired a new stake in shares of Paycom Software in the fourth quarter valued at about $41,000. 87.77% of the stock is currently owned by institutional investors.

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.