JPMorgan Chase & Co. Increases Paycom Software (NYSE:PAYC) Price Target to $200.00

Paycom Software (NYSE:PAYC) had its target price hoisted by equities research analysts at JPMorgan Chase & Co. from $185.00 to $200.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the software maker’s stock. JPMorgan Chase & Co.‘s price objective would indicate a potential downside of 2.20% from the stock’s current price.

PAYC has been the topic of a number of other research reports. BMO Capital Markets boosted their target price on shares of Paycom Software from $183.00 to $197.00 and gave the stock a “market perform” rating in a research note on Thursday, October 31st. Piper Sandler upped their target price on Paycom Software from $160.00 to $191.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Needham & Company LLC reiterated a “hold” rating on shares of Paycom Software in a research report on Thursday. Citigroup reduced their price target on Paycom Software from $234.00 to $221.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Finally, Stifel Nicolaus lowered their price objective on Paycom Software from $215.00 to $187.00 and set a “hold” rating for the company in a research note on Thursday. Eleven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $205.56.

Paycom Software Stock Performance

Shares of NYSE PAYC traded down $2.55 during mid-day trading on Thursday, reaching $204.50. The company had a trading volume of 426,606 shares, compared to its average volume of 509,670. Paycom Software has a one year low of $139.50 and a one year high of $242.74. The business’s 50-day simple moving average is $211.23 and its 200 day simple moving average is $191.38. The firm has a market cap of $11.79 billion, a price-to-earnings ratio of 24.61, a PEG ratio of 2.81 and a beta of 1.15.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings data on Wednesday, February 12th. The software maker reported $2.02 EPS for the quarter, beating the consensus estimate of $1.99 by $0.03. Paycom Software had a net margin of 25.78% and a return on equity of 32.90%. On average, sell-side analysts anticipate that Paycom Software will post 6.88 EPS for the current year.

Institutional Investors Weigh In On Paycom Software

Several large investors have recently added to or reduced their stakes in the business. Private Trust Co. NA lifted its stake in Paycom Software by 9.3% in the fourth quarter. Private Trust Co. NA now owns 575 shares of the software maker’s stock valued at $118,000 after buying an additional 49 shares during the period. Oppenheimer & Co. Inc. increased its stake in shares of Paycom Software by 1.8% in the 4th quarter. Oppenheimer & Co. Inc. now owns 2,939 shares of the software maker’s stock valued at $602,000 after acquiring an additional 51 shares in the last quarter. Wrapmanager Inc. lifted its position in shares of Paycom Software by 2.6% during the 3rd quarter. Wrapmanager Inc. now owns 2,176 shares of the software maker’s stock valued at $362,000 after acquiring an additional 56 shares during the period. Andina Capital Management LLC boosted its stake in Paycom Software by 4.0% during the third quarter. Andina Capital Management LLC now owns 1,651 shares of the software maker’s stock worth $275,000 after acquiring an additional 63 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings 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 purchasing an additional 68 shares during the period. Institutional investors and hedge funds 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.