Paycom Software, Inc. (PAYC) Receives Hold Rating from Mizuho
Paycom Software, Inc. (NYSE:PAYC)‘s stock had its “hold” rating restated by investment analysts at Mizuho in a research note issued to investors on Thursday. They currently have a $70.00 price target on the software maker’s stock. Mizuho’s price target indicates a potential downside of 11.67% from the stock’s previous close.
A number of other research firms also recently weighed in on PAYC. Robert W. Baird reissued a “buy” rating and issued a $78.00 target price on shares of Paycom Software in a report on Tuesday, September 12th. Barclays PLC reissued a “buy” rating and issued a $74.00 target price on shares of Paycom Software in a report on Wednesday, July 19th. Canaccord Genuity increased their target price on Paycom Software from $70.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday, June 27th. Oppenheimer Holdings, Inc. increased their target price on Paycom Software from $65.00 to $75.00 and gave the company an “outperform” rating in a report on Wednesday, August 2nd. Finally, Royal Bank Of Canada restated a “sector perform” rating and issued a $74.00 price target (up previously from $67.00) on shares of Paycom Software in a research report on Tuesday, August 8th. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Paycom Software has a consensus rating of “Buy” and an average target price of $76.63.
Shares of Paycom Software (NYSE PAYC) traded up 0.57% during midday trading on Thursday, reaching $79.25. The company had a trading volume of 305,399 shares. The stock has a market capitalization of $4.59 billion, a PE ratio of 85.95 and a beta of 1.72. Paycom Software has a 1-year low of $39.15 and a 1-year high of $79.98. The company’s 50-day moving average is $74.86 and its 200-day moving average is $68.06.
Paycom Software (NYSE:PAYC) last posted its earnings results on Tuesday, August 1st. The software maker reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.11. Paycom Software had a return on equity of 35.77% and a net margin of 14.28%. The company had revenue of $98.20 million for the quarter, compared to the consensus estimate of $95.98 million. During the same quarter in the prior year, the company earned $0.21 earnings per share. Paycom Software’s revenue was up 32.9% on a year-over-year basis. On average, equities research analysts forecast that Paycom Software will post $1.15 EPS for the current year.
In related news, CFO Craig E. Boelte sold 11,000 shares of the stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $74.72, for a total transaction of $821,920.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Jeffrey D. York sold 40,000 shares of the stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $74.81, for a total value of $2,992,400.00. The disclosure for this sale can be found here. Insiders have sold 61,000 shares of company stock valued at $4,564,520 in the last quarter. 17.90% of the stock is currently owned by company insiders.
Several large investors have recently added to or reduced their stakes in the stock. Alps Advisors Inc. grew its position in shares of Paycom Software by 0.3% during the second quarter. Alps Advisors Inc. now owns 8,542 shares of the software maker’s stock worth $584,000 after purchasing an additional 22 shares in the last quarter. Renaissance Group LLC grew its position in shares of Paycom Software by 0.7% during the second quarter. Renaissance Group LLC now owns 6,156 shares of the software maker’s stock worth $421,000 after purchasing an additional 42 shares in the last quarter. 1st Global Advisors Inc. grew its position in shares of Paycom Software by 1.4% during the second quarter. 1st Global Advisors Inc. now owns 5,567 shares of the software maker’s stock worth $381,000 after purchasing an additional 75 shares in the last quarter. Suntrust Banks Inc. grew its position in shares of Paycom Software by 0.6% during the second quarter. Suntrust Banks Inc. now owns 14,130 shares of the software maker’s stock worth $966,000 after purchasing an additional 91 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its position in shares of Paycom Software by 7.2% during the second quarter. PNC Financial Services Group Inc. now owns 2,220 shares of the software maker’s stock worth $152,000 after purchasing an additional 150 shares in the last quarter. Hedge funds and other institutional investors own 86.05% of the company’s stock.
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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