Paycom Software, Inc. (NYSE:PAYC) is a stock to watch today. At current price of $311.41, the shares have already added 8.12 points (2.68% higher) from its previous close of $303.29. The stock sets an active trading volume day with a reported 301952 contracts so far this session. PAYC shares had a relatively better volume day versus average trading capacity of 843.84 thousand shares, but with a 49.43 million float and a 4.33% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for PAYC stock indicates that the average analyst price target is $316.93 per share. This means the stock has a potential increase of 1.77% from where the PAYC share price has been trading recently.
During the recent trading session for Paycom Software, Inc. (NYSE:PAYC), the company witnessed their stock rise $18.31 over a week and surge $17.53 from the price 20 days ago. When compared to their established 52-week high of $342, the high they recorded in their recent session happens to be higher. Their established 52-week high was attained by the company on 05/02/20. The recent low of $169.06 stood for a -8.94% since 08/03/19, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 1.08 is also allocated to the stock. Since the beta is greater than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for Paycom Software, Inc., the two-week RSI stands at 56.62. This figure suggests that PAYC stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current PAYC readings is similarly very revealing as it has a stochastic reading of 29.18% at this stage. This figure means that PAYC share price today is being overbought.
Technical chart claims that Paycom Software, Inc. (PAYC) would settle between $308.48/share to $313.67/share level. However, if the stock price goes below the $296.23 mark, then the market for Paycom Software, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $289.17 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -1.58. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at Oppenheimer lifted target price for shares of PAYC but were stick to Outperform recommendation for the stock in their opinion released on January 17. The price target has been raised from $255 to $325. RBC Capital Mkts analysts bumped their rating on Paycom Software, Inc. (NYSE:PAYC) stock from Sector Perform to Outperform in a separate flash note issued to investors on November 20. Analysts at Citigroup, made their first call for the equity with a Buy recommendation, according to a research note that dated back to October 25.
PAYC equity has an average rating of 2.35, with the figure leaning towards a bullish end. 16 analysts who tracked the company were contacted by Reuters. Amongst them, 8 rated the stock as a hold while the remaining 8 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 8 analysts rated Paycom Software, Inc. (NYSE:PAYC) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Paycom Software, Inc. (PAYC)’s current-quarter revenues are projected to climb by nearly 20.7% to hit $241370, based on current consensus estimate. The firm’s full-year revenues are expected to expand by over 23.8% from $737670 to a noteworthy $913540. At the other end of the current quarter income statement, Paycom Software, Inc. is expected to see its adjusted earnings surge by roughly 8.4% to hit $1.29 per share. For the fiscal year, PAYC’s earnings are projected to climb by roughly 21.1% to hit $4.24 per share.