Paycom Software (NYSE:PAYC) Price Target Cut to $170.00 by Analysts at Mizuho

Paycom Software (NYSE:PAYC) had its price objective dropped by equities research analysts at Mizuho from $185.00 to $170.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the software maker’s stock. Mizuho’s target price would suggest a potential downside of 0.75% from the company’s previous close.

Other research analysts have also 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. JPMorgan Chase & Co. lifted their price objective on Paycom Software from $165.00 to $175.00 and gave the stock a “neutral” rating in a report on Thursday. Citigroup reduced their price objective on Paycom Software from $196.00 to $193.00 and set a “neutral” rating for the company in a report on Thursday. Barclays lowered their price objective on shares of Paycom Software from $193.00 to $184.00 and set an “equal weight” rating on the stock in a research note on Thursday. Finally, William Blair reaffirmed a “market perform” rating on shares of Paycom Software in a report on Thursday. Sixteen investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Paycom Software currently has a consensus rating of “Hold” and a consensus price target of $246.31.

Paycom Software Stock Performance

PAYC opened at $171.29 on Monday. Paycom Software has a one year low of $146.15 and a one year high of $374.04. The business’s 50-day simple moving average is $189.34 and its 200-day simple moving average is $193.38. The stock has a market capitalization of $9.95 billion, a P/E ratio of 20.86, a price-to-earnings-growth ratio of 2.84 and a beta of 1.17.

Paycom Software (NYSE:PAYC) last issued its quarterly earnings results on Wednesday, February 7th. The software maker reported $1.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.78 by $0.15. Paycom Software had a return on equity of 32.84% and a net margin of 26.91%. The firm had revenue of $434.60 million for the quarter, compared to analysts’ expectations of $422.50 million. During the same quarter in the previous year, the firm posted $1.38 EPS. The firm’s revenue for the quarter was up 17.3% on a year-over-year basis. On average, equities research analysts forecast that Paycom Software will post 5.82 EPS for the current fiscal year.

Institutional Trading of Paycom Software

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Paycom Software by 2.4% during the fourth quarter. Vanguard Group Inc. now owns 5,936,910 shares of the software maker’s stock worth $1,227,278,000 after buying an additional 137,583 shares in the last quarter. American Century Companies Inc. grew its position in shares of Paycom Software by 18.8% during the third quarter. American Century Companies Inc. now owns 1,139,511 shares of the software maker’s stock worth $295,441,000 after buying an additional 180,202 shares in the last quarter. Brown Capital Management LLC grew its position in shares of Paycom Software by 10.1% during the fourth quarter. Brown Capital Management LLC now owns 1,106,045 shares of the software maker’s stock worth $228,642,000 after buying an additional 101,744 shares in the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its stake in Paycom Software by 7.9% in the first quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 977,055 shares of the software maker’s stock valued at $182,426,000 after buying an additional 71,272 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its stake in Paycom Software by 16,173.6% in the fourth quarter. International Assets Investment Management LLC now owns 787,803 shares of the software maker’s stock valued at $162,855,000 after buying an additional 782,962 shares during the last quarter. Hedge funds and other 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.