Paycom Software, Inc. (PAYC) Rating Reiterated by Stifel Nicolaus
Paycom Software, Inc. (NYSE:PAYC)‘s stock had its “buy” rating reaffirmed by equities researchers at Stifel Nicolaus in a research note issued to investors on Friday. They presently have a $85.00 target price on the software maker’s stock. Stifel Nicolaus’ price target points to a potential upside of 5.87% from the company’s current price.
Other research analysts also recently issued reports about the company. KeyCorp upped their price objective on Paycom Software to $94.00 in a research note on Wednesday, August 2nd. Canaccord Genuity boosted their price target on Paycom Software from $80.00 to $85.00 and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Barclays PLC reiterated a “buy” rating and set a $74.00 price target on shares of Paycom Software in a research report on Wednesday, July 19th. Jefferies Group LLC restated a “buy” rating and issued a $83.00 price objective (up previously from $73.00) on shares of Paycom Software in a report on Wednesday, August 2nd. Finally, Zacks Investment Research upgraded Paycom Software from a “hold” rating to a “buy” rating and set a $78.00 price objective for the company in a report on Friday, August 4th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $82.94.
Shares of Paycom Software (NYSE:PAYC) traded up $1.00 during midday trading on Friday, hitting $80.29. The stock had a trading volume of 533,394 shares, compared to its average volume of 486,528. Paycom Software has a 1-year low of $39.15 and a 1-year high of $82.59. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.23. The company has a market cap of $4,750.00, a P/E ratio of 74.08, a price-to-earnings-growth ratio of 3.60 and a beta of 1.73.
Paycom Software (NYSE:PAYC) last issued its quarterly earnings data on Tuesday, October 31st. The software maker reported $0.29 EPS for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.10. The firm had revenue of $101.30 million during the quarter, compared to the consensus estimate of $100.47 million. Paycom Software had a return on equity of 46.01% and a net margin of 15.37%. The firm’s revenue was up 31.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.15 EPS. research analysts forecast that Paycom Software will post 0.79 EPS for the current year.
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In related news, insider Stacey M. Pezold sold 10,000 shares of the stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $75.02, for a total transaction of $750,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Craig E. Boelte sold 11,000 shares of the stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $74.72, for a total value of $821,920.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 61,000 shares of company stock valued at $4,564,520. 17.90% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in the business. Capital World Investors lifted its position in shares of Paycom Software by 6.7% in the 2nd quarter. Capital World Investors now owns 6,612,914 shares of the software maker’s stock worth $452,389,000 after acquiring an additional 415,000 shares during the period. Vanguard Group Inc. raised its holdings in shares of Paycom Software by 6.8% in the 2nd quarter. Vanguard Group Inc. now owns 3,727,860 shares of the software maker’s stock worth $255,023,000 after buying an additional 236,334 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Paycom Software by 12.7% in the 2nd quarter. BlackRock Inc. now owns 3,001,044 shares of the software maker’s stock worth $205,302,000 after buying an additional 338,351 shares in the last quarter. State Street Corp raised its holdings in shares of Paycom Software by 14.0% in the 2nd quarter. State Street Corp now owns 911,240 shares of the software maker’s stock worth $62,337,000 after buying an additional 112,148 shares in the last quarter. Finally, New York State Common Retirement Fund raised its holdings in shares of Paycom Software by 60.3% in the 2nd quarter. New York State Common Retirement Fund now owns 748,858 shares of the software maker’s stock worth $51,229,000 after buying an additional 281,778 shares in the last quarter. Institutional investors own 86.42% of the company’s stock.
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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