Paycom Software (NYSE:PAYC) Given “Hold” Rating at Needham & Company LLC

Paycom Software (NYSE:PAYC)‘s stock had its “hold” rating reissued by research analysts at Needham & Company LLC in a research report issued on Thursday,Benzinga reports.

Several other brokerages have also recently weighed in on PAYC. Jefferies Financial Group boosted their price target on shares of Paycom Software from $170.00 to $175.00 and gave the stock a “hold” rating in a research report on Thursday, October 31st. BMO Capital Markets boosted their price objective 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. Barclays cut their price objective on shares of Paycom Software from $229.00 to $221.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 23rd. TD Cowen boosted their price objective 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. Finally, StockNews.com upgraded shares of Paycom Software from a “hold” rating to a “buy” rating in a research report on Friday, January 31st. Eleven analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $209.22.

Paycom Software Stock Performance

Shares of PAYC opened at $209.72 on Thursday. The company’s fifty day moving average is $210.84 and its 200 day moving average is $191.52. Paycom Software has a fifty-two week low of $139.50 and a fifty-two week high of $242.74. The stock has a market capitalization of $12.09 billion, a PE ratio of 25.24, a P/E/G ratio of 2.81 and a beta of 1.15.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings results on Wednesday, February 12th. The software maker reported $2.02 earnings per share for the quarter, topping the consensus estimate 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, research analysts forecast that Paycom Software will post 6.88 earnings per share for the current year.

Institutional Trading of Paycom Software

A number of large investors have recently made changes to their positions in PAYC. Glass Jacobson Investment Advisors llc lifted its stake in Paycom Software by 746.7% in the fourth quarter. Glass Jacobson Investment Advisors llc now owns 127 shares of the software maker’s stock worth $26,000 after acquiring an additional 112 shares during the period. Brooklyn Investment Group purchased a new stake in Paycom Software in the third quarter worth about $28,000. Pin Oak Investment Advisors Inc. lifted its stake in Paycom Software by 73.3% in the third quarter. Pin Oak Investment Advisors Inc. now owns 182 shares of the software maker’s stock worth $30,000 after acquiring an additional 77 shares during the period. Murphy & Mullick Capital Management Corp purchased a new stake in Paycom Software in the fourth quarter worth about $30,000. Finally, First Horizon Advisors Inc. lifted its stake in Paycom Software by 821.7% in the third quarter. First Horizon Advisors Inc. now owns 212 shares of the software maker’s stock worth $35,000 after acquiring an additional 189 shares during the period. 87.77% of the stock is owned by hedge funds and other institutional investors.

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.