RBC Capital Markets assumed coverage on shares of Paycom Software Inc. (NYSE:PAYC) in a research note published on Friday. The brokerage issued a sector perform rating and a $54.00 price target on the stock.
Other equities analysts have also issued reports about the company. Canaccord Genuity restated a buy rating and issued a $55.00 target price on shares of Paycom Software in a research note on Thursday, August 4th. Stifel Nicolaus upped their target price on Paycom Software from $50.00 to $55.00 and gave the stock a buy rating in a research note on Wednesday, August 3rd. Wunderlich upped their target price on Paycom Software from $50.00 to $57.00 and gave the stock a buy rating in a research note on Wednesday, August 3rd. Barclays PLC restated a buy rating on shares of Paycom Software in a research note on Sunday, July 17th. Finally, Zacks Investment Research upgraded Paycom Software from a hold rating to a buy rating and set a $57.00 price objective on the stock in a research report on Friday, August 5th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock currently has an average rating of Buy and a consensus price target of $52.38.
Paycom Software (NYSE:PAYC) opened at 49.34 on Friday. The company has a 50 day moving average price of $50.02 and a 200-day moving average price of $43.49. Paycom Software has a 1-year low of $22.42 and a 1-year high of $52.93. The firm has a market capitalization of $2.84 billion, a price-to-earnings ratio of 77.21 and a beta of 2.01.
Paycom Software (NYSE:PAYC) last announced its earnings results on Tuesday, August 2nd. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.13 by $0.08. The business had revenue of $73.88 million for the quarter, compared to analyst estimates of $70.34 million. Paycom Software had a return on equity of 33.66% and a net margin of 13.36%. The company’s quarterly revenue was up 50.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.10 EPS. On average, analysts forecast that Paycom Software will post $0.77 EPS for the current fiscal year.
In other Paycom Software news, insider William X. Kerber III sold 55,000 shares of the stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $52.08, for a total value of $2,864,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Craig E. Boelte sold 40,000 shares of the stock in a transaction that occurred on Tuesday, August 30th. The stock was sold at an average price of $51.29, for a total value of $2,051,600.00. The disclosure for this sale can be found here. 18.70% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC boosted its position in Paycom Software by 2,376.0% in the second quarter. Tower Research Capital LLC TRC now owns 2,476 shares of the company’s stock worth $107,000 after buying an additional 2,376 shares during the last quarter. Royal Bank of Canada boosted its position in Paycom Software by 34.8% in the second quarter. Royal Bank of Canada now owns 2,826 shares of the company’s stock worth $122,000 after buying an additional 730 shares during the last quarter. Envestnet Asset Management Inc. boosted its position in Paycom Software by 83.7% in the first quarter. Envestnet Asset Management Inc. now owns 3,673 shares of the company’s stock worth $131,000 after buying an additional 1,673 shares during the last quarter. BlackRock Inc. boosted its position in Paycom Software by 96.8% in the second quarter. BlackRock Inc. now owns 4,320 shares of the company’s stock worth $187,000 after buying an additional 2,125 shares during the last quarter. Finally, Pinnacle Financial Partners Inc. purchased a new position in Paycom Software during the second quarter worth approximately $231,000. Institutional investors and hedge funds own 80.42% of the company’s stock.
About Paycom Software
Paycom Software, Inc (Paycom) is a provider of cloud-based human capital management (HCM) software solution delivered as software as a service (SaaS). The Company’s solution is based on a system of record maintained in a single database for all HCM functions, including talent acquisition, time and labor management, payroll, talent management and human resources (HR) management applications.
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