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

Paycom Software (NYSE:PAYC) had its price objective hoisted by investment analysts at JPMorgan Chase & Co. from $185.00 to $200.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the software maker’s stock. JPMorgan Chase & Co.‘s target price suggests a potential downside of 4.63% from the stock’s previous close.

Several other analysts also recently issued reports on PAYC. Barclays reduced their price target on shares of Paycom Software from $229.00 to $221.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Citigroup reduced their price objective on shares of Paycom Software from $234.00 to $221.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. StockNews.com raised shares of Paycom Software from a “hold” rating to a “buy” rating in a research note on Friday, January 31st. Piper Sandler upped their price objective on shares of Paycom Software from $160.00 to $191.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, BMO Capital Markets upped their price objective on shares of Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a research note on Thursday, October 31st. Eleven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $209.22.

Paycom Software Trading Down 1.1 %

PAYC stock opened at $209.72 on Thursday. Paycom Software has a 52 week low of $139.50 and a 52 week high of $242.74. 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. The company’s 50-day moving average price is $210.84 and its 200 day moving average price is $191.52.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings results on Wednesday, February 12th. The software maker reported $2.02 earnings per share (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, equities research analysts expect that Paycom Software will post 6.88 earnings per share for the current year.

Hedge Funds Weigh In On Paycom Software

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Parvin Asset Management LLC acquired a new position in Paycom Software during the fourth quarter worth approximately $61,000. Utah Retirement Systems increased its position in shares of Paycom Software by 1.2% in the fourth quarter. Utah Retirement Systems now owns 8,526 shares of the software maker’s stock worth $1,748,000 after acquiring an additional 100 shares in the last quarter. Lido Advisors LLC acquired a new stake in shares of Paycom Software in the fourth quarter worth $211,000. Northern Trust Corp increased its position in shares of Paycom Software by 10.9% in the fourth quarter. Northern Trust Corp now owns 724,016 shares of the software maker’s stock worth $148,402,000 after acquiring an additional 70,897 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of Paycom Software by 1.0% in the fourth quarter. The Manufacturers Life Insurance Company now owns 39,917 shares of the software maker’s stock worth $8,182,000 after acquiring an additional 411 shares in the last quarter. 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.