Paycom Software (NYSE:PAYC) Price Target Lowered to $187.00 at Stifel Nicolaus

Paycom Software (NYSE:PAYC) had its price target cut by research analysts at Stifel Nicolaus from $215.00 to $187.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “hold” rating on the software maker’s stock. Stifel Nicolaus’ price target would suggest a potential downside of 8.00% from the company’s current price.

Other research analysts also recently issued research reports about the stock. TD Cowen raised their target price on shares of Paycom Software from $193.00 to $248.00 and gave the company a “hold” rating in a research report on Monday, December 9th. BMO Capital Markets raised their target price on shares of Paycom Software from $183.00 to $197.00 and gave the company a “market perform” rating in a research report on Thursday, October 31st. Citigroup decreased their target price on shares of Paycom Software from $234.00 to $221.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Jefferies Financial Group raised their target price on shares of Paycom Software from $170.00 to $175.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. Finally, Barclays decreased their target price on shares of Paycom Software from $229.00 to $221.00 and set an “equal weight” rating for the company in a research report on Thursday, January 23rd. Eleven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Paycom Software has a consensus rating of “Hold” and an average price target of $202.78.

Paycom Software Stock Down 1.8 %

Shares of NYSE:PAYC traded down $3.79 during midday trading on Thursday, reaching $203.26. 180,343 shares of the company were exchanged, compared to its average volume of 501,242. Paycom Software has a fifty-two week low of $139.50 and a fifty-two week high of $242.74. The stock has a fifty day simple moving average of $211.23 and a two-hundred day simple moving average of $191.38. The firm has a market cap of $11.72 billion, a PE ratio of 24.46, a P/E/G ratio of 2.81 and a beta of 1.15.

Paycom Software (NYSE:PAYC) last issued its quarterly earnings data on Wednesday, February 12th. The software maker reported $2.02 EPS for the quarter, topping analysts’ consensus estimates of $1.99 by $0.03. Paycom Software had a net margin of 25.78% and a return on equity of 32.90%. As a group, analysts forecast that Paycom Software will post 6.88 earnings per share for the current year.

Institutional Trading of Paycom Software

Hedge funds and other institutional investors have recently modified their holdings of the stock. Murphy & Mullick Capital Management Corp bought a new stake in shares of Paycom Software during the 4th quarter worth about $30,000. Brooklyn Investment Group acquired a new stake in Paycom Software in the 3rd quarter worth about $28,000. Pin Oak Investment Advisors Inc. raised its stake in Paycom Software by 73.3% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 182 shares of the software maker’s stock worth $30,000 after purchasing an additional 77 shares in the last quarter. IFP Advisors Inc raised its stake in Paycom Software by 635.7% in the 4th quarter. IFP Advisors Inc now owns 206 shares of the software maker’s stock worth $43,000 after purchasing an additional 178 shares in the last quarter. Finally, First Horizon Advisors Inc. raised its stake in Paycom Software by 821.7% in the 3rd quarter. First Horizon Advisors Inc. now owns 212 shares of the software maker’s stock worth $35,000 after purchasing an additional 189 shares in the last quarter. Institutional investors 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.