Paycom Software, Inc. (PAYC) Given Consensus Recommendation of “Buy” by Brokerages
Paycom Software, Inc. (NYSE:PAYC) has been given an average recommendation of “Buy” by the sixteen research firms that are presently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $76.31.
Several equities analysts recently issued reports on the company. Credit Suisse Group restated a “buy” rating on shares of Paycom Software in a research note on Monday, July 3rd. TheStreet upgraded Paycom Software from a “c” rating to a “b+” rating in a research note on Monday, April 17th. Jefferies Group LLC restated a “buy” rating and set a $73.00 price target on shares of Paycom Software in a research note on Thursday, June 8th. Wells Fargo & Company assumed coverage on Paycom Software in a research note on Thursday, May 11th. They set an “outperform” rating and a $75.00 price target on the stock. Finally, Wunderlich boosted their price target on Paycom Software from $62.00 to $73.00 and gave the company a “buy” rating in a research note on Wednesday, May 3rd.
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In other news, insider Stacey M. Pezold sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, June 19th. The stock was sold at an average price of $70.15, for a total value of $2,104,500.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Jeffrey D. York sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $66.93, for a total value of $2,677,200.00. The disclosure for this sale can be found here. Corporate insiders own 17.90% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Alps Advisors Inc. increased its position in shares of Paycom Software by 0.3% in the second quarter. Alps Advisors Inc. now owns 8,542 shares of the software maker’s stock valued at $584,000 after buying an additional 22 shares during the last quarter. Renaissance Group LLC increased its position in shares of Paycom Software by 0.7% in the second quarter. Renaissance Group LLC now owns 6,156 shares of the software maker’s stock valued at $421,000 after buying an additional 42 shares during the last quarter. State Board of Administration of Florida Retirement System increased its position in shares of Paycom Software by 0.7% in the first quarter. State Board of Administration of Florida Retirement System now owns 20,715 shares of the software maker’s stock valued at $1,191,000 after buying an additional 140 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Paycom Software by 10.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,835 shares of the software maker’s stock valued at $126,000 after buying an additional 167 shares during the last quarter. Finally, 1st Global Advisors Inc. increased its position in shares of Paycom Software by 3.4% in the first quarter. 1st Global Advisors Inc. now owns 5,492 shares of the software maker’s stock valued at $316,000 after buying an additional 182 shares during the last quarter. 91.03% of the stock is currently owned by institutional investors and hedge funds.
Shares of Paycom Software (NYSE PAYC) traded down 0.13% during midday trading on Tuesday, reaching $69.90. The company’s stock had a trading volume of 339,256 shares. The stock has a market capitalization of $4.05 billion, a P/E ratio of 76.23 and a beta of 1.75. The stock’s 50-day moving average is $69.35 and its 200 day moving average is $60.49. Paycom Software has a 12 month low of $39.15 and a 12 month high of $73.61.
Paycom Software (NYSE:PAYC) last issued its quarterly earnings results on Tuesday, August 1st. The software maker reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.11. Paycom Software had a return on equity of 35.77% and a net margin of 14.28%. The firm had revenue of $98.20 million for the quarter, compared to analyst estimates of $95.98 million. During the same period in the previous year, the company posted $0.21 earnings per share. The company’s quarterly revenue was up 32.9% compared to the same quarter last year. On average, analysts expect that Paycom Software will post $1.15 earnings per share for the current fiscal year.
Paycom Software Company Profile
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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