Credit Suisse Group Raises Paycom Software (NYSE:PAYC) Price Target to $205.00

Paycom Software (NYSE:PAYC) had its price target boosted by Credit Suisse Group from $185.00 to $205.00 in a report released on Thursday, The Fly reports. Credit Suisse Group currently has an underperform rating on the software maker’s stock.

Several other equities research analysts have also recently commented on the company. Citigroup increased their price objective on Paycom Software from $262.00 to $315.00 and gave the company a buy rating in a research report on Tuesday, May 12th. JPMorgan Chase & Co. cut 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. Needham & Company LLC raised their target price on Paycom Software from $250.00 to $265.00 and gave the stock a buy rating in a research report on Wednesday, April 29th. Cantor Fitzgerald dropped their target price on Paycom Software from $314.00 to $245.00 and set a neutral rating on the stock in a research report on Wednesday, April 29th. Finally, Oppenheimer raised their target price on Paycom Software from $255.00 to $345.00 and gave the stock an outperform rating in a research report on Thursday, July 16th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $259.81.

Shares of Paycom Software stock traded down $2.16 during trading on Thursday, hitting $284.37. 562,851 shares of the company’s stock traded hands, compared to its average volume of 400,520. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.10 and a quick ratio of 1.10. Paycom Software has a 1 year low of $163.42 and a 1 year high of $342.00. The stock 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. The business has a 50-day simple moving average of $305.20 and a 200-day simple moving average of $274.43.

In related news, CEO Chad R. Richison sold 420,865 shares of the business’s stock in a transaction that occurred on Tuesday, May 19th. The stock was sold at an average price of $268.00, for a total value of $112,791,820.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Jon Evans sold 1,400 shares of the business’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of $258.97, for a total value of $362,558.00. The disclosure for this sale can be found here. Insiders sold a total of 447,942 shares of company stock valued at $120,871,330 in the last ninety days. 16.10% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of PAYC. National Pension Service acquired a new stake in shares of Paycom Software during the fourth quarter valued at about $214,000. Sunbelt Securities Inc. acquired a new stake in shares of Paycom Software during the 4th quarter worth about $16,614,000. Norges Bank acquired a new stake in shares of Paycom Software during the 4th quarter worth about $121,950,000. Franklin Resources Inc. acquired a new stake in shares of Paycom Software during the 4th quarter worth about $26,940,000. Finally, State of Alaska Department of Revenue lifted its stake in shares of Paycom Software by 70.7% during the 1st quarter. State of Alaska Department of Revenue now owns 23,698 shares of the software maker’s stock worth $4,786,000 after buying an additional 9,816 shares during the last quarter. 75.20% of the stock is currently owned by institutional investors.

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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