Paycom Software, Inc. (NYSE:PAYC) has received an average recommendation of “Buy” from the eighteen ratings firms that are presently covering the firm, Marketbeat Ratings reports. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $76.23.

PAYC has been the subject of several recent analyst reports. KeyCorp raised their target price on shares of Paycom Software to $94.00 in a research note on Wednesday, August 2nd. Stifel Nicolaus raised their target price on shares of Paycom Software from $67.00 to $80.00 and gave the company a “buy” rating in a research note on Wednesday, August 2nd. Canaccord Genuity raised their target price on shares of Paycom Software from $80.00 to $85.00 and gave the company a “buy” rating in a research note on Wednesday, August 2nd. Credit Suisse Group reiterated a “buy” rating on shares of Paycom Software in a research note on Monday, July 3rd. Finally, BidaskClub downgraded shares of Paycom Software from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 29th.

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In other news, insider Stacey M. Pezold sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $75.02, for a total transaction of $750,200.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Craig E. Boelte sold 11,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $74.72, for a total transaction of $821,920.00. The disclosure for this sale can be found here. Insiders have sold 61,000 shares of company stock worth $4,564,520 over the last ninety days. Insiders own 17.90% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Alps Advisors Inc. increased its holdings 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 during the period. TIAA CREF Investment Management LLC increased its stake in Paycom Software by 11.9% in the second quarter. TIAA CREF Investment Management LLC now owns 132,900 shares of the software maker’s stock valued at $9,092,000 after acquiring an additional 14,144 shares during the last quarter. Federated Investors Inc. PA increased its stake in Paycom Software by 372.3% in the second quarter. Federated Investors Inc. PA now owns 70,163 shares of the software maker’s stock valued at $4,800,000 after acquiring an additional 55,308 shares during the last quarter. Russell Investments Group Ltd. increased its stake in Paycom Software by 7.5% in the second quarter. Russell Investments Group Ltd. now owns 71,438 shares of the software maker’s stock valued at $4,887,000 after acquiring an additional 4,955 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in Paycom Software by 61.7% in the second quarter. First Trust Advisors LP now owns 96,162 shares of the software maker’s stock valued at $6,578,000 after acquiring an additional 36,678 shares during the last quarter. 86.05% of the stock is currently owned by institutional investors.

Paycom Software (NYSE:PAYC) traded up 1.05% during trading on Friday, hitting $80.07. The stock had a trading volume of 255,274 shares. The stock has a 50 day moving average price of $76.09 and a 200 day moving average price of $69.10. Paycom Software has a 12-month low of $39.15 and a 12-month high of $80.55. The company has a market capitalization of $4.77 billion, a price-to-earnings ratio of 87.03 and a beta of 1.72.

Paycom Software (NYSE:PAYC) last issued its earnings results on Tuesday, August 1st. The software maker reported $0.24 earnings per share (EPS) for the quarter, beating 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 business had revenue of $98.20 million during the quarter, compared to the consensus estimate of $95.98 million. During the same period last year, the business posted $0.21 EPS. Paycom Software’s revenue was up 32.9% on a year-over-year basis. Equities research analysts forecast that Paycom Software will post $1.15 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.

Analyst Recommendations for Paycom Software (NYSE:PAYC)

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