Paycom Software (NYSE:PAYC) Stock Price Expected to Rise, Piper Sandler Analyst Says

Paycom Software (NYSE:PAYC - Get Free Report) had its price objective lifted by investment analysts at Piper Sandler from $191.00 to $224.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the software maker's stock. Piper Sandler's price objective suggests a potential upside of 4.91% from the company's current price.

PAYC has been the topic of several other reports. StockNews.com upgraded Paycom Software from a "hold" rating to a "buy" rating in a research report on Friday, January 31st. Barclays lowered their target price on Paycom Software from $229.00 to $221.00 and set an "equal weight" rating on the stock in a research report on Thursday, January 23rd. JPMorgan Chase & Co. lifted their price target on Paycom Software from $185.00 to $200.00 and gave the company a "neutral" rating in a research report on Thursday, February 13th. Jefferies Financial Group lifted their price target on Paycom Software from $170.00 to $175.00 and gave the company a "hold" rating in a research report on Thursday, October 31st. Finally, Mizuho lifted their price target on Paycom Software from $190.00 to $210.00 and gave the company a "neutral" rating in a research report on Friday, December 13th. Eleven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $209.22.

Paycom Software Trading Up 2.1 %

PAYC traded up $4.30 during trading hours on Friday, hitting $213.52. The company's stock had a trading volume of 666,975 shares, compared to its average volume of 554,806. Paycom Software has a fifty-two week low of $139.50 and a fifty-two week high of $242.74. The firm has a market capitalization of $12.31 billion, a PE ratio of 25.69, a PEG ratio of 2.81 and a beta of 1.15. The company has a 50-day simple moving average of $209.80 and a 200 day simple moving average of $192.50.

Paycom Software (NYSE:PAYC - Get Free Report) last posted its earnings results 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 return on equity of 32.90% and a net margin of 25.78%. Research analysts expect that Paycom Software will post 6.88 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Paycom Software

Hedge funds have recently modified their holdings of the stock. CWM LLC boosted its position in shares of Paycom Software by 20.1% in the third quarter. CWM LLC now owns 2,008 shares of the software maker's stock worth $334,000 after buying an additional 336 shares during the period. Exchange Traded Concepts LLC acquired a new stake in shares of Paycom Software in the third quarter worth $265,000. Creative Planning boosted its position in shares of Paycom Software by 27.5% in the third quarter. Creative Planning now owns 7,586 shares of the software maker's stock worth $1,264,000 after buying an additional 1,635 shares during the period. NBC Securities Inc. boosted its position in shares of Paycom Software by 74.3% in the third quarter. NBC Securities Inc. now owns 1,459 shares of the software maker's stock worth $243,000 after buying an additional 622 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of Paycom Software by 2.1% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,719 shares of the software maker's stock worth $786,000 after buying an additional 95 shares during the period. 87.77% of the stock is currently 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.