Robert W. Baird Increases Paycom Software (PAYC) Price Target to $92.00

Paycom Software (NYSE:PAYC) had its price target lifted by investment analysts at Robert W. Baird from $82.00 to $92.00 in a research note issued on Wednesday, MarketBeat.com reports. The firm currently has an “outperform” rating on the software maker’s stock. Robert W. Baird’s price target would suggest a potential upside of 10.38% from the company’s previous close. The analysts noted that the move was a valuation call.

Other equities research analysts also recently issued reports about the stock. Mizuho reaffirmed a “neutral” rating and issued a $80.00 target price (down from $85.00) on shares of Paycom Software in a research note on Wednesday, February 7th. Jefferies Group raised their target price on shares of Paycom Software from $85.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday, November 1st. Northland Securities set a $85.00 target price on shares of Paycom Software and gave the company a “buy” rating in a research note on Wednesday, November 1st. KeyCorp reaffirmed a “hold” rating on shares of Paycom Software in a research note on Wednesday, November 1st. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $85.00 target price on shares of Paycom Software in a research note on Friday, November 3rd. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. Paycom Software presently has a consensus rating of “Buy” and a consensus target price of $87.94.

Paycom Software (NYSE:PAYC) opened at $83.35 on Wednesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.05 and a quick ratio of 1.05. Paycom Software has a 1 year low of $50.68 and a 1 year high of $93.61. The company has a market cap of $4,816.68, a P/E ratio of 73.11, a PEG ratio of 2.07 and a beta of 1.70.

Paycom Software (NYSE:PAYC) last released its quarterly earnings data on Tuesday, February 6th. The software maker reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.05. The company had revenue of $114.00 million during the quarter, compared to analyst estimates of $113.01 million. Paycom Software had a net margin of 15.43% and a return on equity of 45.18%. Paycom Software’s revenue was up 29.8% compared to the same quarter last year. During the same period last year, the business earned $0.18 earnings per share. analysts predict that Paycom Software will post 1.56 EPS for the current fiscal year.

In other Paycom Software news, Director Robert J. Levenson sold 18,750 shares of Paycom Software stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $88.89, for a total transaction of $1,666,687.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Craig E. Boelte sold 11,000 shares of Paycom Software stock in a transaction that occurred on Tuesday, December 12th. The stock was 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 79,750 shares of company stock worth $6,533,308 over the last three months. Insiders own 17.90% of the company’s stock.

Several institutional investors have recently modified their holdings of PAYC. JPMorgan Chase & Co. grew its holdings in shares of Paycom Software by 96.1% in the third quarter. JPMorgan Chase & Co. now owns 1,172,756 shares of the software maker’s stock worth $87,664,000 after purchasing an additional 574,658 shares during the last quarter. Koch Industries Inc. bought a new position in shares of Paycom Software in the second quarter worth approximately $271,000. Vanguard Group Inc. grew its holdings in shares of Paycom Software by 6.8% in the second quarter. Vanguard Group Inc. now owns 3,727,860 shares of the software maker’s stock worth $255,023,000 after purchasing an additional 236,334 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Paycom Software by 583.9% in the second quarter. The Manufacturers Life Insurance Company now owns 233,870 shares of the software maker’s stock worth $15,999,000 after purchasing an additional 199,673 shares during the last quarter. Finally, Lord Abbett & CO. LLC grew its holdings in shares of Paycom Software by 43.6% in the second quarter. Lord Abbett & CO. LLC now owns 562,989 shares of the software maker’s stock worth $38,514,000 after purchasing an additional 170,932 shares during the last quarter. Hedge funds and other institutional investors own 87.12% of the company’s stock.

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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.

Analyst Recommendations for Paycom Software (NYSE:PAYC)

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