Paycom Software’s (NYSE:PAYC) “Sector Perform” Rating Reiterated at Royal Bank Of Canada
Paycom Software, Inc. (NYSE:PAYC)‘s stock had its “sector perform” rating restated by Royal Bank Of Canada in a research note issued to investors on Tuesday. They presently have a $74.00 target price on the software maker’s stock, up from their prior target price of $67.00. Royal Bank Of Canada’s price target indicates a potential upside of 5.87% from the company’s current price.
PAYC has been the topic of several other reports. Zacks Investment Research raised shares of Paycom Software from a “sell” rating to a “buy” rating and set a $64.00 price objective on the stock in a research report on Tuesday, April 11th. Credit Suisse Group increased their price objective on shares of Paycom Software from $70.00 to $78.00 and gave the company an “outperform” rating in a research report on Wednesday, August 2nd. Jefferies Group LLC reissued a “buy” rating and set a $73.00 price objective on shares of Paycom Software in a research report on Thursday, June 8th. Wells Fargo & Company started coverage on shares of Paycom Software in a research report on Thursday, May 11th. They set an “outperform” rating and a $75.00 price objective on the stock. Finally, Wunderlich increased their price objective on shares of Paycom Software from $62.00 to $73.00 and gave the company a “buy” rating in a research report on Wednesday, May 3rd. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Paycom Software currently has a consensus rating of “Buy” and an average target price of $75.36.
Paycom Software (PAYC) traded down 0.13% on Tuesday, reaching $69.90. 339,256 shares of the company traded hands. The stock’s 50 day moving average price is $69.49 and its 200 day moving average price is $60.67. Paycom Software has a one year low of $39.15 and a one year high of $73.61. The company has a market capitalization of $4.05 billion, a PE ratio of 76.23 and a beta of 1.75.
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, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.11. Paycom Software had a net margin of 14.28% and a return on equity of 35.77%. The company had revenue of $98.20 million during the quarter, compared to analyst estimates of $95.98 million. During the same period last year, the business earned $0.21 EPS. Paycom Software’s quarterly revenue was up 32.9% compared to the same quarter last year. On average, equities research analysts predict that Paycom Software will post $1.15 EPS for the current fiscal year.
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In related news, insider Stacey M. Pezold sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, June 19th. The shares were sold at an average price of $70.15, for a total value of $2,104,500.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Jeffrey D. York sold 40,000 shares of the firm’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 transaction of $2,677,200.00. The disclosure for this sale can be found here. Company insiders own 17.90% of the company’s stock.
Several institutional investors have recently bought and sold shares of PAYC. Geneva Advisors LLC increased its position in Paycom Software by 129.3% in the first quarter. Geneva Advisors LLC now owns 10,850 shares of the software maker’s stock worth $624,000 after buying an additional 6,118 shares during the last quarter. Dillon & Associates Inc. boosted its stake in Paycom Software by 24.7% in the first quarter. Dillon & Associates Inc. now owns 12,300 shares of the software maker’s stock worth $713,000 after buying an additional 2,440 shares during the last quarter. Strs Ohio boosted its stake 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. Sapphire Star Partners LP boosted its stake in Paycom Software by 3.6% in the first quarter. Sapphire Star Partners LP now owns 11,338 shares of the software maker’s stock worth $652,000 after buying an additional 392 shares during the last quarter. Finally, Granite Investment Partners LLC boosted its stake in Paycom Software by 10.4% in the first quarter. Granite Investment Partners LLC now owns 203,933 shares of the software maker’s stock worth $11,728,000 after buying an additional 19,214 shares during the last quarter. 91.03% of the stock is currently owned by 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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