Paycom Software (NYSE:PAYC)‘s stock had its “overweight” rating restated by equities research analysts at KeyCorp in a research note issued on Tuesday. They presently have a $127.00 price target on the software maker’s stock, up from their prior price target of $105.00. KeyCorp’s price target points to a potential upside of 15.20% from the stock’s current price. KeyCorp also issued estimates for Paycom Software’s Q2 2018 earnings at $0.31 EPS, Q3 2018 earnings at $0.31 EPS, Q4 2018 earnings at $0.47 EPS and FY2019 earnings at $2.68 EPS.
PAYC has been the subject of a number of other research reports. Zacks Investment Research upgraded Paycom Software from a “hold” rating to a “strong-buy” rating and set a $97.00 target price for the company in a report on Friday, February 9th. Northland Securities set a $101.00 target price on Paycom Software and gave the stock a “buy” rating in a report on Thursday, January 11th. Barclays lifted their target price on Paycom Software from $96.00 to $97.00 and gave the stock an “overweight” rating in a report on Wednesday, February 7th. Stifel Nicolaus lifted their target price on Paycom Software from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. Finally, Bank of America lifted their target price on Paycom Software from $92.00 to $105.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $89.78.
Paycom Software (PAYC) traded up $0.72 during trading hours on Tuesday, reaching $110.24. The company’s stock had a trading volume of 101,285 shares, compared to its average volume of 746,333. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.25. Paycom Software has a 1-year low of $53.70 and a 1-year high of $111.42. The company has a market cap of $6,520.00, a P/E ratio of 97.27, a price-to-earnings-growth ratio of 2.31 and a beta of 1.55.
Paycom Software declared that its board has initiated a share buyback plan on Tuesday, February 13th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the software maker to buy shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.
In related news, Director Robert J. Levenson sold 18,750 shares of the business’s stock in a transaction on Wednesday, March 7th. The stock was sold at an average price of $107.11, for a total transaction of $2,008,312.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jeffrey D. York sold 50,000 shares of the business’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $79.97, for a total value of $3,998,500.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 104,750 shares of company stock valued at $9,388,528. 17.90% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. lifted its holdings in shares of Paycom Software by 96.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,172,756 shares of the software maker’s stock worth $87,664,000 after buying an additional 574,658 shares during the period. Maryland Capital Management purchased a new stake in shares of Paycom Software in the 4th quarter worth $7,760,000. Pembroke Management LTD lifted its holdings in shares of Paycom Software by 48.4% in the 3rd quarter. Pembroke Management LTD now owns 252,600 shares of the software maker’s stock worth $18,935,000 after buying an additional 82,400 shares during the period. Jackson Square Partners LLC lifted its holdings in shares of Paycom Software by 6.9% in the 4th quarter. Jackson Square Partners LLC now owns 1,090,164 shares of the software maker’s stock worth $87,572,000 after buying an additional 70,709 shares during the period. Finally, Axiom International Investors LLC DE purchased a new stake in shares of Paycom Software in the 3rd quarter worth $4,969,000. Institutional investors own 87.73% of the company’s stock.
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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.
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