Stifel Nicolaus Has Lowered Expectations for Paycom Software (NYSE:PAYC) Stock Price

Paycom Software (NYSE:PAYC - Get Free Report) had its target price decreased by equities researchers at Stifel Nicolaus from $215.00 to $187.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a "hold" rating on the software maker's stock. Stifel Nicolaus' price target would suggest a potential downside of 10.83% from the company's previous close.

Other equities research analysts also recently issued reports about the stock. StockNews.com upgraded shares of Paycom Software from a "hold" rating to a "buy" rating in a research note on Friday, January 31st. Barclays decreased their price objective on shares of Paycom Software from $229.00 to $221.00 and set an "equal weight" rating for the company in a research note on Thursday, January 23rd. Jefferies Financial Group boosted their price objective on Paycom Software from $170.00 to $175.00 and gave the company a "hold" rating in a report on Thursday, October 31st. Piper Sandler boosted their price target on Paycom Software from $160.00 to $191.00 and gave the company a "neutral" rating in a report on Thursday, October 31st. Finally, TD Cowen boosted their price target on Paycom Software from $193.00 to $248.00 and gave the company a "hold" rating in a report on Monday, December 9th. Eleven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $209.22.

Paycom Software Stock Performance

PAYC traded down $2.26 during trading on Thursday, hitting $209.72. The stock had a trading volume of 900,247 shares, compared to its average volume of 454,779. The company has a market capitalization of $12.09 billion, a PE ratio of 25.24, a PEG ratio of 2.81 and a beta of 1.15. Paycom Software has a twelve month low of $139.50 and a twelve month high of $242.74. The stock has a 50 day simple moving average of $210.30 and a two-hundred day simple moving average of $192.20.

Paycom Software (NYSE:PAYC - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The software maker reported $2.02 earnings per share for the quarter, topping 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%. On average, equities research analysts anticipate that Paycom Software will post 6.88 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Private Trust Co. NA boosted its holdings 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 purchasing an additional 49 shares in the last quarter. Oppenheimer & Co. Inc. boosted its holdings 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 buying an additional 51 shares in the last quarter. Wrapmanager Inc. boosted its holdings in shares of Paycom Software by 2.6% in the 3rd quarter. Wrapmanager Inc. now owns 2,176 shares of the software maker's stock valued at $362,000 after buying an additional 56 shares in the last quarter. Benjamin Edwards Inc. boosted its position in shares of Paycom Software by 1.1% in the 4th quarter. Benjamin Edwards Inc. now owns 5,502 shares of the software maker's stock valued at $1,128,000 after purchasing an additional 60 shares during the period. Finally, Andina Capital Management LLC increased its position 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 buying an additional 63 shares during the period. 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.