Paycom Software, Inc. (NYSE:PAYC) had its price objective lifted by research analysts at Barclays PLC to $82.00 in a research note issued on Wednesday. The firm currently has an “overweight” rating on the software maker’s stock. Barclays PLC’s price objective would suggest a potential upside of 9.73% from the stock’s current price.
PAYC has been the subject of several other reports. Credit Suisse Group reissued a “buy” rating on shares of Paycom Software in a report on Monday, July 3rd. Jefferies Group LLC reissued a “buy” rating and issued a $73.00 price objective on shares of Paycom Software in a report on Thursday, June 8th. Stifel Nicolaus boosted their price objective on Paycom Software from $67.00 to $80.00 and gave the company a “buy” rating in a report on Wednesday, August 2nd. Zacks Investment Research lowered Paycom Software from a “buy” rating to a “hold” rating in a report on Friday, August 25th. Finally, BidaskClub lowered Paycom Software from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 29th. Four analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $76.07.
Shares of Paycom Software (PAYC) opened at 74.73 on Wednesday. The company has a 50 day moving average price of $71.60 and a 200-day moving average price of $64.99. The firm has a market capitalization of $4.33 billion, a PE ratio of 81.05 and a beta of 1.75. Paycom Software has a 12 month low of $39.15 and a 12 month high of $75.57.
Paycom Software (NYSE:PAYC) last announced its quarterly earnings data on Tuesday, August 1st. The software maker reported $0.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.11. The firm had revenue of $98.20 million during the quarter, compared to analyst estimates of $95.98 million. Paycom Software had a return on equity of 35.77% and a net margin of 14.28%. Paycom Software’s quarterly revenue was up 32.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.21 earnings per share. Equities research analysts expect that Paycom Software will post $1.15 EPS for the current fiscal year.
In other news, insider Stacey M. Pezold sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $75.02, for a total transaction of $750,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jeffrey D. York sold 40,000 shares of the company’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 have sold 80,000 shares of company stock valued at $5,531,900 over the last ninety days. Corporate insiders own 17.90% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Paycom Software by 10.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,835 shares of the software maker’s stock worth $126,000 after buying an additional 167 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Paycom Software by 7.2% during the second quarter. PNC Financial Services Group Inc. now owns 2,220 shares of the software maker’s stock worth $152,000 after buying an additional 150 shares during the period. Strs Ohio boosted its position in shares of Paycom Software by 342.9% during the first quarter. Strs Ohio now owns 3,100 shares of the software maker’s stock worth $178,000 after buying an additional 2,400 shares during the period. Bfsg LLC acquired a new position in shares of Paycom Software during the first quarter worth approximately $203,000. Finally, Raymond James Trust N.A. acquired a new position in shares of Paycom Software during the second quarter worth approximately $203,000. Institutional investors and hedge funds own 86.05% of the company’s stock.
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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