Credit Suisse Group Raises Paycom Software (NYSE:PAYC) Price Target to $205.00
Paycom Software (NYSE:PAYC) had its price target upped by Credit Suisse Group from $185.00 to $205.00 in a report issued on Thursday, The Fly reports. Credit Suisse Group currently has an underperform rating on the software maker’s stock.
Several other equities research analysts also recently commented on the stock. Piper Sandler began coverage on shares of Paycom Software in a research report on Thursday, May 21st. They set a neutral rating and a $281.00 target price on the stock. Cantor Fitzgerald cut their target price on shares of Paycom Software from $314.00 to $245.00 and set a neutral rating on the stock in a research report on Wednesday, April 29th. Citigroup lifted their target price on shares of Paycom Software from $262.00 to $315.00 and gave the stock a buy rating in a research report on Tuesday, May 12th. JPMorgan Chase & Co. downgraded shares of Paycom Software from a neutral rating to an underweight rating and set a $200.00 target price on the stock. in a research report on Thursday, April 23rd. Finally, Barclays raised their price target on shares of Paycom Software from $195.00 to $285.00 and gave the stock an equal weight rating in a report on Monday, July 20th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company. The stock has an average rating of Hold and an average price target of $259.81.
NYSE:PAYC traded down $2.16 during mid-day trading on Thursday, hitting $284.37. 562,851 shares of the company’s stock were exchanged, compared to its average volume of 400,520. The company has a 50 day simple moving average of $305.20 and a 200-day simple moving average of $274.43. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.05. Paycom Software has a fifty-two week low of $163.42 and a fifty-two week high of $342.00. The firm has a market capitalization of $16.65 billion, a P/E ratio of 84.63, a PEG ratio of 4.33 and a beta of 1.55.
A number of hedge funds and other institutional investors have recently bought and sold shares of PAYC. Comerica Bank raised its stake in Paycom Software by 0.4% in the 2nd quarter. Comerica Bank now owns 15,312 shares of the software maker’s stock valued at $4,564,000 after acquiring an additional 57 shares during the period. Prudential PLC bought a new stake in Paycom Software in the 2nd quarter valued at about $248,000. Fox Run Management L.L.C. bought a new stake in Paycom Software in the 2nd quarter valued at about $287,000. UBS Group AG increased its position in shares of Paycom Software by 4.3% during the second quarter. UBS Group AG now owns 73,490 shares of the software maker’s stock valued at $22,762,000 after buying an additional 3,047 shares during the period. Finally, Mackay Shields LLC increased its position in shares of Paycom Software by 2.3% during the second quarter. Mackay Shields LLC now owns 7,870 shares of the software maker’s stock valued at $2,438,000 after buying an additional 174 shares during the period. 75.20% of the stock is owned by institutional investors and hedge funds.
About Paycom Software
Paycom Software, Inc provides cloud-based human capital management (HCM) software service for small to mid-sized companies in the United States. It provides functionality and data analytics that businesses need to manage the employment life cycle from recruitment to retirement. The company's HCM solution offers a suite of applications in the areas of talent acquisition, including applicant tracking, candidate tracker, background checks, on-boarding, e-verify, and tax credit services; and time and labor management, such as time and attendance, scheduling/schedule exchange, time-off requests, labor allocation, labor management reports/push reporting, and geofencing/geotracking.
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