Paycom Software shares declined 8.45% and hit a new 52-week low following an analyst downgrade. UBS Group reduced its price target from $245 to $210. Multiple other analysts also lowered their price objectives, resulting in a consensus "Hold" rating with a target price of $209.64 according to MarketBeat. The company recently reported a slight earnings per share miss, though revenue growth was achieved. Insider selling activity has occurred, while institutional investors showed mixed activity. In other company news, Paycom rehired a former sales chief and commissioned a Nucleus Research study showing productivity gains up to 64% and a 205% annual ROI for one Amazon DSP client using its human capital management software.
Read full analysisPaycom Software shares declined 8.45% and hit a new 52-week low following an analyst downgrade. UBS Group reduced its price target from $245 to $210. Multiple other analysts also lowered their price objectives, resulting in a consensus "Hold" rating with a target price of $209.64 according to MarketBeat. The company recently reported a slight earnings per share miss, though revenue growth was achieved. Insider selling activity has occurred, while institutional investors showed mixed activity. In other company news, Paycom rehired a former sales chief and commissioned a Nucleus Research study showing productivity gains up to 64% and a 205% annual ROI for one Amazon DSP client using its human capital management software.
Paycom Software (PAYC) is a publicly traded company in the Technology sector.