Paycom Software (NYSE:PAYC) Given New $170.00 Price Target at Jefferies Financial Group

Paycom Software (NYSE:PAYC - Get Free Report) had its price target hoisted by equities researchers at Jefferies Financial Group from $155.00 to $170.00 in a report released on Tuesday, Benzinga reports. The firm currently has a "hold" rating on the software maker's stock. Jefferies Financial Group's target price indicates a potential upside of 2.16% from the stock's previous close.

Several other brokerages have also recently weighed in on PAYC. TD Cowen lifted their price objective on Paycom Software from $171.00 to $188.00 and gave the company a "hold" rating in a report on Monday, September 23rd. Barclays boosted their price target on Paycom Software from $167.00 to $172.00 and gave the stock an "equal weight" rating in a report on Friday, October 11th. StockNews.com cut Paycom Software from a "buy" rating to a "hold" rating in a report on Monday, July 15th. Finally, Needham & Company LLC reissued a "hold" rating on shares of Paycom Software in a report on Thursday, August 1st. Seventeen analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $182.25.

Paycom Software Stock Performance

NYSE:PAYC traded down $1.42 during mid-day trading on Tuesday, hitting $166.40. 409,393 shares of the stock were exchanged, compared to its average volume of 814,606. The stock has a market capitalization of $9.67 billion, a price-to-earnings ratio of 20.30, a price-to-earnings-growth ratio of 2.33 and a beta of 1.17. The firm's 50-day simple moving average is $164.48 and its 200 day simple moving average is $164.38. Paycom Software has a fifty-two week low of $139.50 and a fifty-two week high of $264.70.

Paycom Software (NYSE:PAYC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 31st. The software maker reported $1.20 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.07. The firm had revenue of $437.51 million during the quarter, compared to analysts' expectations of $436.19 million. Paycom Software had a return on equity of 33.36% and a net margin of 26.55%. On average, analysts predict that Paycom Software will post 6.67 EPS for the current fiscal year.

Insider Activity at Paycom Software

In related news, CEO Chad R. Richison sold 1,950 shares of the company's stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $160.56, for a total transaction of $313,092.00. Following the transaction, the chief executive officer now directly owns 3,004,208 shares of the company's stock, valued at approximately $482,355,636.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Bradley Scott Smith sold 1,524 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $157.62, for a total value of $240,212.88. Following the completion of the sale, the insider now directly owns 14,769 shares of the company's stock, valued at $2,327,889.78. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Chad R. Richison sold 1,950 shares of the stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $160.56, for a total value of $313,092.00. Following the completion of the sale, the chief executive officer now directly owns 3,004,208 shares of the company's stock, valued at approximately $482,355,636.48. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 71,906 shares of company stock worth $11,697,727 in the last 90 days. Corporate insiders own 14.50% of the company's stock.

Institutional Trading of Paycom Software

Institutional investors and hedge funds have recently modified their holdings of the stock. Mather Group LLC. bought a new position in shares of Paycom Software in the first quarter valued at approximately $26,000. Palisade Asset Management LLC bought a new position in shares of Paycom Software in the first quarter valued at approximately $32,000. Armstrong Advisory Group Inc. bought a new position in shares of Paycom Software in the third quarter valued at approximately $26,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Paycom Software in the second quarter valued at approximately $25,000. Finally, MFA Wealth Advisors LLC bought a new position in shares of Paycom Software in the second quarter valued at approximately $26,000. 87.77% of the stock is owned by hedge funds and other institutional investors.

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.