Bank of America Boosts Paycom Software (PAYC) Price Target to $105.00

Paycom Software (NYSE:PAYC) had its price objective hoisted by equities researchers at Bank of America from $92.00 to $105.00 in a note issued to investors on Wednesday. The firm presently has a “buy” rating on the software maker’s stock. Bank of America’s target price suggests a potential upside of 24.35% from the company’s current price.

Several other brokerages have also weighed in on PAYC. Stifel Nicolaus lifted their target price on shares of Paycom Software from $85.00 to $90.00 and gave the company a “buy” rating in a research report on Wednesday. Mizuho decreased their target price on shares of Paycom Software from $85.00 to $80.00 and set a “neutral” rating on the stock in a research report on Wednesday. Robert W. Baird reiterated a “buy” rating and set a $92.00 target price (up from $82.00) on shares of Paycom Software in a research report on Wednesday. They noted that the move was a valuation call. Northland Securities set a $101.00 target price on shares of Paycom Software and gave the company a “buy” rating in a research report on Thursday, January 11th. Finally, Barclays lifted their target price on shares of Paycom Software from $82.00 to $87.00 and gave the company an “overweight” rating in a research report on Wednesday, November 1st. Six analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. Paycom Software has a consensus rating of “Buy” and an average target price of $86.44.

Paycom Software (PAYC) traded down $2.17 during midday trading on Wednesday, reaching $84.44. 512,785 shares of the company’s stock traded hands, compared to its average volume of 710,661. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.21. The firm has a market cap of $5,130.00, a price-to-earnings ratio of 79.32, a price-to-earnings-growth ratio of 2.72 and a beta of 1.70. Paycom Software has a 52 week low of $44.25 and a 52 week high of $93.61.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings results on Tuesday, February 6th. The software maker reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.05. The company had revenue of $114.00 million for the quarter, compared to analyst estimates of $113.01 million. Paycom Software had a net margin of 15.37% and a return on equity of 44.27%. The business’s quarterly revenue was up 29.8% on a year-over-year basis. During the same period last year, the business posted $0.18 EPS. sell-side analysts forecast that Paycom Software will post 0.82 earnings per share for the current year.

In related news, insider Jeffrey D. York sold 50,000 shares of Paycom Software stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $79.97, for a total transaction of $3,998,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Craig E. Boelte sold 11,000 shares of Paycom Software stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $78.92, for a total transaction of $868,120.00. The disclosure for this sale can be found here. Insiders have sold a total of 79,750 shares of company stock valued at $6,533,308 over the last three months. 17.90% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. 1st Global Advisors Inc. raised its stake in shares of Paycom Software by 1.4% in the second quarter. 1st Global Advisors Inc. now owns 5,567 shares of the software maker’s stock worth $381,000 after acquiring an additional 75 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Paycom Software by 7.2% in the second quarter. PNC Financial Services Group Inc. now owns 2,220 shares of the software maker’s stock worth $152,000 after acquiring an additional 150 shares during the last quarter. Stifel Financial Corp raised its stake in shares of Paycom Software by 3.8% in the second quarter. Stifel Financial Corp now owns 8,882 shares of the software maker’s stock worth $612,000 after acquiring an additional 328 shares during the last quarter. Ameritas Investment Partners Inc. raised its stake in shares of Paycom Software by 13.9% in the second quarter. Ameritas Investment Partners Inc. now owns 4,329 shares of the software maker’s stock worth $296,000 after acquiring an additional 528 shares during the last quarter. Finally, US Bancorp DE raised its stake in shares of Paycom Software by 6.8% in the fourth quarter. US Bancorp DE now owns 9,220 shares of the software maker’s stock worth $740,000 after acquiring an additional 584 shares during the last quarter. 87.88% of the stock is owned by institutional investors.

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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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