Jefferies Group LLC Increases Paycom Software Inc (PAYC) Price Target to $69.00
Paycom Software Inc (NYSE:PAYC) had its price target lifted by equities research analysts at Jefferies Group LLC from $58.00 to $69.00 in a research note issued on Monday. The brokerage currently has a “buy” rating on the stock. Jefferies Group LLC’s price target points to a potential upside of 22.25% from the company’s previous close.
PAYC has been the subject of several other reports. Canaccord Genuity restated a “buy” rating and issued a $55.00 price objective on shares of Paycom Software in a research note on Friday, February 3rd. Wunderlich restated a “buy” rating and issued a $62.00 price objective (up from $57.00) on shares of Paycom Software in a research note on Thursday, February 23rd. Mizuho started coverage on Paycom Software in a research note on Friday, March 3rd. They issued a “buy” rating and a $62.00 price objective for the company. Zacks Investment Research cut Paycom Software from a “hold” rating to a “sell” rating in a research note on Tuesday, February 14th. Finally, Oppenheimer Holdings Inc. started coverage on Paycom Software in a research note on Thursday, December 1st. They issued an “outperform” rating and a $55.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. Paycom Software currently has an average rating of “Buy” and an average target price of $57.09.
Paycom Software (NYSE:PAYC) traded down 0.05% on Monday, reaching $56.44. The company had a trading volume of 484,556 shares. The stock has a market capitalization of $3.24 billion, a P/E ratio of 76.48 and a beta of 1.71. Paycom Software has a 1-year low of $32.42 and a 1-year high of $57.31. The stock’s 50 day moving average is $52.39 and its 200-day moving average is $48.78.
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Paycom Software (NYSE:PAYC) last announced its quarterly earnings data on Wednesday, February 8th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.05. Paycom Software had a return on equity of 28.63% and a net margin of 13.32%. The firm earned $87.80 million during the quarter, compared to analysts’ expectations of $86.43 million. During the same period last year, the business posted $0.10 earnings per share. The company’s revenue for the quarter was up 34.9% compared to the same quarter last year. On average, equities analysts predict that Paycom Software will post $1.02 EPS for the current fiscal year.
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In other Paycom Software news, Director Robert J. Levenson sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, March 13th. The stock was sold at an average price of $55.87, for a total value of $1,396,750.00. Following the sale, the director now directly owns 175,000 shares of the company’s stock, valued at $9,777,250. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 18.70% of the stock is currently owned by company insiders.
Several hedge funds have recently modified their holdings of PAYC. FMR LLC raised its stake in shares of Paycom Software by 172.9% in the fourth quarter. FMR LLC now owns 9,015,997 shares of the company’s stock worth $410,138,000 after buying an additional 5,712,799 shares in the last quarter. Capital World Investors raised its stake in shares of Paycom Software by 299.5% in the third quarter. Capital World Investors now owns 3,974,571 shares of the company’s stock worth $199,245,000 after buying an additional 2,979,732 shares in the last quarter. Brown Capital Management LLC purchased a new stake in shares of Paycom Software during the fourth quarter worth about $102,935,000. 1832 Asset Management L.P. purchased a new stake in shares of Paycom Software during the third quarter worth about $52,929,000. Finally, Thrivent Financial for Lutherans purchased a new stake in shares of Paycom Software during the fourth quarter worth about $45,409,000. 76.40% of the stock is currently owned by hedge funds and other institutional investors.
About Paycom Software
Paycom Software, Inc is a provider of a cloud-based human capital management (HCM) software solution delivered as Software-as-a-Service (SaaS). The Company provides functionality and data analytics that businesses need to manage the complete employment life cycle from recruitment to retirement. The Company’s applications streamline client processes and provide clients and their employees with the ability to directly access and manage administrative processes, including applications that identify candidates, on-board employees, manage time and labor, administer payroll deductions and benefits, manage performance, terminate employees and administer post-termination health benefits, such as COBRA.
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