In a report released today, David Hynes from Canaccord Genuity maintained a Hold rating on Paycom (PAYC), with a price target of $160. The company’s shares opened today at $170, close to its 52-week high of $178.14.
According to TipRanks.com, Hynes is a top 100 analyst with an average return of 30.3% and a 73.9% success rate. Hynes covers the Technology sector, focusing on stocks such as Aspen Technology, Q2 Holdings, and Descartes.
Currently, the analyst consensus on Paycom is a Moderate Buy with an average price target of $165.86, which is a -2.4% downside from current levels. In a report issued on February 1, RBC Capital also maintained a Hold rating on the stock with a $139 price target.
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Based on Paycom’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $28.73 million. In comparison, last year the company had a net profit of $12.88 million.
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Paycom Software, Inc. provides cloud-based human capital management software solutions delivered as Software-as-a-Service. The company provides functionality and data analytics that businesses need to manage the complete employment life cycle from recruitment to retirement.
