Paycom Software, Inc. (NYSE:PAYC) has received a consensus recommendation of “Buy” from the fifteen ratings firms that are currently covering the stock, Marketbeat reports. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $65.50.
Several brokerages have commented on PAYC. Canaccord Genuity lifted their price target on Paycom Software from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, June 27th. BidaskClub downgraded Paycom Software from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 29th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $73.00 price target on shares of Paycom Software in a research report on Thursday, June 8th. Mizuho downgraded Paycom Software from a “buy” rating to a “neutral” rating and set a $70.00 price target on the stock. in a research report on Monday, July 10th. Finally, Credit Suisse Group reaffirmed a “buy” rating on shares of Paycom Software in a research report on Monday, July 3rd.
In other news, insider Stacey M. Pezold sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, June 19th. The stock was sold at an average price of $70.15, for a total transaction of $2,104,500.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jeffrey D. York sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $66.93, for a total value of $2,677,200.00. The disclosure for this sale can be found here. Insiders own 17.90% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Eqis Capital Management Inc. raised its stake in shares of Paycom Software by 19.6% in the second quarter. Eqis Capital Management Inc. now owns 4,989 shares of the software maker’s stock valued at $341,000 after buying an additional 816 shares in the last quarter. Fisher Asset Management LLC raised its stake in shares of Paycom Software by 10.0% in the second quarter. Fisher Asset Management LLC now owns 226,090 shares of the software maker’s stock valued at $15,467,000 after buying an additional 20,520 shares in the last quarter. Piedmont Investment Advisors LLC bought a new stake in shares of Paycom Software during the first quarter valued at approximately $574,000. Teachers Retirement System of The State of Kentucky bought a new stake in shares of Paycom Software during the first quarter valued at approximately $673,000. Finally, Janus Capital Management LLC bought a new stake in shares of Paycom Software during the first quarter valued at approximately $243,000. 90.50% of the stock is currently owned by institutional investors and hedge funds.
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Paycom Software (NYSE:PAYC) traded up 0.38% during trading on Friday, hitting $69.00. The stock had a trading volume of 443,826 shares. Paycom Software has a 52 week low of $39.15 and a 52 week high of $73.61. The firm has a market cap of $3.99 billion, a PE ratio of 80.51 and a beta of 1.77. The company’s 50-day moving average is $67.41 and its 200 day moving average is $56.81.
Paycom Software (NYSE:PAYC) last issued its quarterly earnings results on Tuesday, May 2nd. The software maker reported $0.44 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.07. The company had revenue of $119.51 million for the quarter, compared to the consensus estimate of $115.70 million. Paycom Software had a return on equity of 33.01% and a net margin of 14.19%. Equities analysts expect that Paycom Software will post $1.09 EPS for the current fiscal year.
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.
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