Paycom Software (NYSE:PAYC) Stock Rating Upgraded by Wall Street Zen

Paycom Software (NYSE:PAYC) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Saturday, Wall Street Zen reports.

A number of other brokerages have also weighed in on PAYC. Weiss Ratings upgraded shares of Paycom Software from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. TD Cowen raised their target price on shares of Paycom Software from $149.00 to $244.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Barclays upped their price target on shares of Paycom Software from $154.00 to $210.00 and gave the company an “equal weight” rating in a research report on Thursday, August 6th. Guggenheim upped their price target on shares of Paycom Software from $180.00 to $225.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Finally, Stifel Nicolaus upped their price target on shares of Paycom Software from $120.00 to $200.00 and gave the company a “hold” rating in a research report on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, Paycom Software has an average rating of “Hold” and an average target price of $214.23.

Paycom Software Price Performance

PAYC stock traded up $7.17 during midday trading on Friday, reaching $243.42. 28,490 shares of the company’s stock traded hands, compared to its average volume of 1,278,218. The company has a 50-day simple moving average of $177.95 and a two-hundred day simple moving average of $146.04. Paycom Software has a 1-year low of $104.90 and a 1-year high of $244.98. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.57. The company has a market cap of $10.97 billion, a price-to-earnings ratio of 25.96, a PEG ratio of 1.32 and a beta of 0.78.

Paycom Software (NYSE:PAYC) last issued its quarterly earnings results on Wednesday, August 5th. The software maker reported $2.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.38 by $0.40. Paycom Software had a net margin of 22.78% and a return on equity of 37.06%. The firm had revenue of $531.20 million for the quarter, compared to analyst estimates of $513.12 million. During the same period in the previous year, the business earned $2.06 EPS. The company’s revenue was up 9.8% compared to the same quarter last year. On average, analysts anticipate that Paycom Software will post 10.65 earnings per share for the current year.

Insider Transactions at Paycom Software

In other Paycom Software news, insider Shane Hadlock sold 241 shares of Paycom Software stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $240.07, for a total transaction of $57,856.87. Following the completion of the sale, the insider owned 69,911 shares of the company’s stock, valued at $16,783,533.77. The trade was a 0.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 13.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Paycom Software

A number of institutional investors have recently made changes to their positions in PAYC. Fluent Financial LLC purchased a new position in shares of Paycom Software in the second quarter worth $2,439,000. Principal Financial Group Inc. increased its stake in shares of Paycom Software by 290.5% in the first quarter. Principal Financial Group Inc. now owns 243,762 shares of the software maker’s stock worth $29,627,000 after buying an additional 181,346 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in shares of Paycom Software by 1,151.4% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 170,854 shares of the software maker’s stock worth $27,227,000 after buying an additional 157,201 shares during the period. Janus Henderson Group PLC increased its stake in shares of Paycom Software by 467.2% in the first quarter. Janus Henderson Group PLC now owns 23,200 shares of the software maker’s stock worth $2,819,000 after buying an additional 19,110 shares during the period. Finally, Reinhart Partners LLC. increased its stake in shares of Paycom Software by 20.1% in the second quarter. Reinhart Partners LLC. now owns 1,219,906 shares of the software maker’s stock worth $153,320,000 after buying an additional 204,191 shares during the period. Hedge funds and other institutional investors own 87.77% of the company’s stock.

About Paycom Software

Paycom Software, Inc (NYSE: PAYC) is a cloud-based human capital management (HCM) software provider that delivers an end-to-end solution for human resources, payroll, talent acquisition, time and labor management, and talent management. Its single-database platform enables organizations to process payroll, track time, administer benefits, and manage recruiting and employee development through a unified system. Paycom’s software is designed to streamline administrative tasks, improve data accuracy, and provide real-time reporting and analytics to support strategic HR decisions.

The company’s core offerings include payroll processing with built-in tax compliance, employee self-service functionality, automated time tracking, and customizable talent acquisition tools that allow employers to create and post job requisitions, screen candidates, and conduct onboarding electronically.