Paycom Software, Inc. (NYSE:PAYC)‘s stock had its “buy” rating reiterated by investment analysts at Robert W. Baird in a research report issued on Tuesday. They presently have a $78.00 price objective on the software maker’s stock. Robert W. Baird’s target price suggests a potential upside of 4.38% from the stock’s current price.
A number of other equities analysts have also recently commented on PAYC. Jefferies Group LLC reissued a “buy” rating and set a $73.00 price target on shares of Paycom Software in a report on Thursday, June 8th. Canaccord Genuity boosted their price target on Paycom Software from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Tuesday, June 27th. BidaskClub cut Paycom Software from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 29th. Credit Suisse Group reissued a “buy” rating on shares of Paycom Software in a report on Monday, July 3rd. Finally, Mizuho cut Paycom Software from a “buy” rating to a “neutral” rating and set a $70.00 price target for the company. in a report on Monday, July 10th. Four analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Paycom Software presently has an average rating of “Buy” and a consensus price target of $75.53.
Paycom Software (NYSE:PAYC) traded down 0.72% on Tuesday, reaching $74.73. The company’s stock had a trading volume of 336,577 shares. Paycom Software has a 12 month low of $39.15 and a 12 month high of $75.57. The company has a 50-day moving average price of $71.60 and a 200 day moving average price of $64.99. The company has a market cap of $4.33 billion, a P/E ratio of 81.05 and a beta of 1.75.
Paycom Software (NYSE:PAYC) last posted its quarterly earnings results on Tuesday, August 1st. The software maker reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.11. Paycom Software had a return on equity of 35.77% and a net margin of 14.28%. The company had revenue of $98.20 million during the quarter, compared to analysts’ expectations of $95.98 million. During the same quarter in the previous year, the firm earned $0.21 EPS. Paycom Software’s revenue was up 32.9% on a year-over-year basis. On average, equities research analysts anticipate that Paycom Software will post $1.15 EPS for the current fiscal year.
In other Paycom Software news, insider Stacey M. Pezold sold 10,000 shares of the company’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $75.02, for a total value of $750,200.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Jeffrey D. York sold 40,000 shares of the company’s stock in a transaction dated 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. In the last ninety days, insiders sold 80,000 shares of company stock valued at $5,531,900. Insiders own 17.90% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Paycom Software by 10.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,835 shares of the software maker’s stock valued at $126,000 after buying an additional 167 shares during the last quarter. PNC Financial Services Group Inc. grew its position in shares of Paycom Software by 7.2% in the 2nd quarter. PNC Financial Services Group Inc. now owns 2,220 shares of the software maker’s stock valued at $152,000 after buying an additional 150 shares during the last quarter. Raymond James Trust N.A. bought a new stake in shares of Paycom Software in the 2nd quarter valued at about $203,000. Strs Ohio grew its position in shares of Paycom Software by 342.9% in the 1st quarter. Strs Ohio now owns 3,100 shares of the software maker’s stock valued at $178,000 after buying an additional 2,400 shares during the last quarter. Finally, Fiduciary Trust Co. bought a new stake in shares of Paycom Software in the 2nd quarter valued at about $215,000. Hedge funds and other institutional investors own 86.05% of the company’s stock.
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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