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

Paycom Software (NYSE:PAYC - Get Free Report) had its target price increased by research analysts at JPMorgan Chase & Co. from $185.00 to $200.00 in a report 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 suggest a potential downside of 4.63% from the company's current price.

Other research analysts also recently issued research reports about the company. TD Cowen upped their price objective on Paycom Software from $193.00 to $248.00 and gave the company a "hold" rating in a research note on Monday, December 9th. StockNews.com raised shares of Paycom Software from a "hold" rating to a "buy" rating in a research note on Friday, January 31st. BMO Capital Markets boosted their price objective 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. Mizuho raised their target price on Paycom Software from $190.00 to $210.00 and gave the stock a "neutral" rating in a research report on Friday, December 13th. Finally, Stifel Nicolaus reduced their price target on Paycom Software from $215.00 to $187.00 and set a "hold" rating on the stock in a research report on Thursday. Eleven research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Paycom Software currently has an average rating of "Hold" and a consensus target price of $209.22.

Paycom Software Trading Down 1.1 %

Paycom Software stock traded down $2.26 during mid-day trading on Thursday, reaching $209.72. The company had a trading volume of 900,247 shares, compared to its average volume of 454,779. The business has a fifty day simple moving average of $210.30 and a 200 day simple moving average of $192.20. The company has a market cap of $12.09 billion, a P/E ratio of 25.24, a P/E/G ratio of 2.81 and a beta of 1.15. Paycom Software has a fifty-two week low of $139.50 and a fifty-two week high of $242.74.

Paycom Software (NYSE:PAYC - Get Free Report) last released its quarterly earnings data on Wednesday, February 12th. The software maker reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.99 by $0.03. Paycom Software had a return on equity of 32.90% and a net margin of 25.78%. Research analysts forecast that Paycom Software will post 6.88 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in Paycom Software by 26.7% during the 3rd quarter. GAMMA Investing LLC now owns 323 shares of the software maker's stock valued at $54,000 after acquiring an additional 68 shares in the last quarter. CWM LLC increased its stake in Paycom Software by 20.1% in the 3rd quarter. CWM LLC now owns 2,008 shares of the software maker's stock valued at $334,000 after buying an additional 336 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of Paycom Software by 200.0% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 300 shares of the software maker's stock worth $50,000 after buying an additional 200 shares in the last quarter. Exchange Traded Concepts LLC bought a new position in shares of Paycom Software in the third quarter valued at approximately $265,000. Finally, Procyon Advisors LLC bought a new position in shares of Paycom Software in the third quarter valued at approximately $204,000. 87.77% of the stock is owned by institutional investors and hedge funds.

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.