On March 30, 2023, DA Davidson upgraded their outlook for Paycom Software (NYSE:PAYC) from Neutral to Buy.
Analyst Price Forecast Suggests 35.59% Upside
As of March 30, 2023, the average one-year price target for Paycom Software is $387.62. The forecasts range from a low of $318.15 to a high of $465.15. The average price target represents an increase of 35.59% from its latest reported closing price of $285.87.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Paycom Software is $1,720MM, an increase of 25.07%. The projected annual non-GAAP EPS is $7.52.
What are Large Shareholders Doing?
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,550K shares representing 2.57% ownership of the company. In it's prior filing, the firm reported owning 1,523K shares, representing an increase of 1.68%. The firm decreased its portfolio allocation in PAYC by 11.67% over the last quarter.
Invesco holds 1,221K shares representing 2.02% ownership of the company. In it's prior filing, the firm reported owning 992K shares, representing an increase of 18.75%. The firm decreased its portfolio allocation in PAYC by 99.99% over the last quarter.
VIMSX - Vanguard Mid-Cap Index Fund Investor Shares holds 1,186K shares representing 1.97% ownership of the company. In it's prior filing, the firm reported owning 1,172K shares, representing an increase of 1.23%. The firm decreased its portfolio allocation in PAYC by 12.55% over the last quarter.
VFINX - Vanguard 500 Index Fund Investor Shares holds 1,124K shares representing 1.86% ownership of the company. In it's prior filing, the firm reported owning 1,102K shares, representing an increase of 1.95%. The firm decreased its portfolio allocation in PAYC by 11.65% over the last quarter.
Wellington Management Group Llp holds 1,119K shares representing 1.86% ownership of the company. In it's prior filing, the firm reported owning 1,286K shares, representing a decrease of 14.83%. The firm decreased its portfolio allocation in PAYC by 99.99% over the last quarter.
What is the Fund Sentiment?
There are 1476 funds or institutions reporting positions in Paycom Software. This is an increase of 55 owner(s) or 3.87% in the last quarter. Average portfolio weight of all funds dedicated to PAYC is 0.32%, a decrease of 10.43%. Total shares owned by institutions increased in the last three months by 2.65% to 55,421K shares. The put/call ratio of PAYC is 0.97, indicating a bullish outlook.
Paycom Software Background Information
(This description is provided by the company.)
As a leader in payroll and HR technology, Oklahoma City-based Paycom redefines the human capital management industry by allowing companies to effectively navigate a rapidly changing business environment. Its cloud-based software solution is based on a core system of record maintained in a single database for all human capital management functions, providing the functionality that businesses need to manage the complete employment lifecycle, from recruitment to retirement. Paycom has the ability to serve businesses of all sizes and in every industry. As one of the leading human capital management providers, Paycom serves clients in all 50 states from offices across the country.
This story originally appeared on Fintel.
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