KeyCorp Issues Positive Forecast for Paycom Software (NYSE:PAYC) Stock Price

Paycom Software (NYSE:PAYC) had its target price hoisted by stock analysts at KeyCorp from $280.00 to $295.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “overweight” rating on the software maker’s stock. KeyCorp‘s price target indicates a potential upside of 13.00% from the company’s current price.

A number of other analysts have also commented on PAYC. Stifel Nicolaus boosted their target price on Paycom Software from $120.00 to $200.00 and gave the company a “hold” rating in a research report on Thursday, August 6th. Bank of America assumed coverage on Paycom Software in a report on Tuesday, September 29th. They issued an “underperform” rating and a $200.00 price target on the stock. UBS Group increased their price target on Paycom Software from $205.00 to $285.00 and gave the stock a “buy” rating in a report on Tuesday, September 1st. Barclays raised their price objective on Paycom Software from $210.00 to $250.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 13th. Finally, Cantor Fitzgerald boosted their price objective on Paycom Software from $135.00 to $195.00 and gave the company a “neutral” rating in a report on Thursday, August 6th. Five analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $249.79.

Paycom Software Stock Down 2.7%

PAYC opened at $261.07 on Wednesday. The company has a fifty day moving average price of $233.37 and a two-hundred day moving average price of $162.55. Paycom Software has a 1-year low of $104.90 and a 1-year high of $275.22.

Paycom Software (NYSE:PAYC) last released its quarterly earnings data on Wednesday, August 5th. The software maker reported $2.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.38 by $0.40. The company had revenue of $531.20 million for the quarter, compared to the consensus estimate of $513.12 million. Paycom Software’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period last year, the company earned $2.06 EPS. On average, equities analysts expect that Paycom Software will post 10.80 earnings per share for the current year.

Insider Activity at Paycom Software

In related news, insider Shane Hadlock sold 241 shares of the business’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $240.07, for a total transaction of $57,856.87. Following the transaction, the insider directly owned 69,911 shares in the company, valued at approximately $16,783,533.77. The trade was a 0.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 13.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Paycom Software

A number of institutional investors have recently added to or reduced their stakes in PAYC. TD Waterhouse Canada Inc. purchased a new stake in Paycom Software in the 3rd quarter valued at about $25,000. Laurel Wealth Advisors LLC purchased a new position in shares of Paycom Software in the 3rd quarter worth approximately $28,000. Caitlin John LLC purchased a new position in shares of Paycom Software in the 2nd quarter worth approximately $31,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Paycom Software in the second quarter valued at approximately $33,000. Finally, EFG International AG bought a new position in shares of Paycom Software in the second quarter valued at approximately $36,000. 87.77% of the stock is owned by institutional investors.

Paycom Software Company Profile

Paycom Software, Inc is a provider of cloud-based human capital management (HCM) software designed to help businesses manage employee-related processes through a unified platform. Its solutions support payroll, human resources, talent acquisition and management, time and labor management, compliance, and employee engagement.

The company’s software is intended to allow employers and employees to enter and manage workforce information within a single system. Its offerings include payroll processing, benefits administration, expense management, scheduling, performance management, learning, and recruiting tools.