Paycom Software, Inc. (NYSE:PAYC) Receives Average Rating of “Buy” from Analysts
Shares of Paycom Software, Inc. (NYSE:PAYC) have received a consensus recommendation of “Buy” from the fourteen ratings firms that are currently covering the stock, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $65.50.
PAYC has been the topic of several analyst reports. Jefferies Group LLC boosted their price target on shares of Paycom Software from $69.00 to $73.00 and gave the company a “buy” rating in a report on Wednesday, May 3rd. Canaccord Genuity boosted their price target on shares of Paycom Software from $70.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday, June 27th. Zacks Investment Research lowered shares of Paycom Software from a “buy” rating to a “hold” rating in a report on Monday, May 8th. Mizuho lowered shares of Paycom Software from a “buy” rating to a “neutral” rating and set a $70.00 price target on the stock. in a report on Monday. Finally, BidaskClub lowered shares of Paycom Software from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 29th.
In other Paycom Software news, insider Jeffrey D. York sold 40,000 shares of the stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $66.93, for a total transaction of $2,677,200.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Stacey M. Pezold sold 30,000 shares of the stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $70.15, for a total transaction of $2,104,500.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 110,000 shares of company stock worth $7,102,100. Insiders own 17.90% of the company’s stock.
A number of large investors have recently modified their holdings of PAYC. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Paycom Software by 144.7% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,201 shares of the software maker’s stock worth $146,000 after buying an additional 1,893 shares in the last quarter. Strs Ohio increased its position in Paycom Software by 342.9% in the first quarter. Strs Ohio now owns 3,100 shares of the software maker’s stock worth $178,000 after buying an additional 2,400 shares during the last quarter. Bfsg LLC acquired a new position in Paycom Software during the first quarter worth about $203,000. Ameritas Investment Partners Inc. acquired a new position in Paycom Software during the first quarter worth about $219,000. Finally, Eqis Capital Management Inc. acquired a new position in Paycom Software during the first quarter worth about $240,000. 90.50% of the stock is currently owned by hedge funds and other institutional investors.
Paycom Software (NYSE:PAYC) traded up 0.38% on Friday, hitting $68.74. 318,400 shares of the stock traded hands. The stock has a 50-day moving average of $67.41 and a 200-day moving average of $56.81. Paycom Software has a 12-month low of $39.15 and a 12-month high of $73.61. The firm has a market cap of $3.98 billion, a price-to-earnings ratio of 80.21 and a beta of 1.77.
Paycom Software (NYSE:PAYC) last announced its quarterly earnings results on Tuesday, May 2nd. The software maker reported $0.44 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.07. The firm had revenue of $119.51 million for the quarter, compared to analyst estimates of $115.70 million. Paycom Software had a net margin of 14.19% and a return on equity of 33.01%. Analysts forecast that Paycom Software will post $1.09 earnings per share for the current year.
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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