Paycom Software (PAYC) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of Paycom Software (NYSE:PAYC) from a buy rating to a hold rating in a research report report published on Tuesday.

According to Zacks, “Provider of cloud-based HCM software as a service solution, Paycom has outperformed the broader market over the last one year. The company reported outstanding third-quarter 2017 results and provided an encouraging fourth-quarter and full-year 2017 revenue guidance. Revenue growth seems to be steady and was positively impacted by higher recurring revenues and higher traction in cloud-based offerings. Better-than-expected demand for advanced human capital management and payroll software solutions during the reported quarter were the other positives. Going ahead, Paycom might witness long-term growth by successfully cross-selling newer products to the existing client base, which will boost revenues. Nevertheless, competition from companies likes Paylocity Holding Corporation, Intuit Inc. and Paychex, Inc. remains a headwind.”

A number of other research firms have also recently weighed in on PAYC. Wells Fargo & Co set a $89.00 target price on shares of Paycom Software and gave the company a buy rating in a research note on Wednesday, November 1st. Robert W. Baird restated a buy rating and set a $82.00 target price on shares of Paycom Software in a research note on Wednesday, November 1st. Credit Suisse Group cut shares of Paycom Software from an outperform rating to a neutral rating and set a $78.00 target price on the stock. in a research note on Wednesday, November 1st. Jefferies Group boosted their price target on shares of Paycom Software from $85.00 to $95.00 and gave the stock a buy rating in a research note on Wednesday, November 1st. Finally, Northland Securities set a $85.00 price target on shares of Paycom Software and gave the stock a buy rating in a research note on Wednesday, November 1st. Six analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $83.44.

Paycom Software (NYSE PAYC) traded up $2.08 on Tuesday, hitting $83.11. 461,300 shares of the company were exchanged, compared to its average volume of 440,833. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.05 and a current ratio of 1.05. Paycom Software has a 52 week low of $42.52 and a 52 week high of $86.10. The stock has a market cap of $4,970.00, a PE ratio of 78.41, a price-to-earnings-growth ratio of 2.62 and a beta of 1.67.

Paycom Software (NYSE:PAYC) last released its earnings results on Tuesday, October 31st. The software maker reported $0.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.10. Paycom Software had a net margin of 15.37% and a return on equity of 44.27%. The company had revenue of $101.30 million for the quarter, compared to analysts’ expectations of $100.47 million. During the same quarter in the previous year, the company earned $0.15 EPS. Paycom Software’s revenue for the quarter was up 31.0% on a year-over-year basis. equities research analysts anticipate that Paycom Software will post 0.82 EPS for the current year.

In other news, insider Jeffrey D. York sold 50,000 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $79.97, for a total value of $3,998,500.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Craig E. Boelte sold 11,000 shares of the business’s stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $78.92, for a total transaction of $868,120.00. The disclosure for this sale can be found here. Insiders own 17.90% of the company’s stock.

Several institutional investors have recently bought and sold shares of PAYC. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings 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 worth $126,000 after buying an additional 167 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings 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 worth $152,000 after buying an additional 150 shares during the last quarter. Fortaleza Asset Management Inc. bought a new stake in shares of Paycom Software in the 3rd quarter worth about $164,000. Raymond James Trust N.A. bought a new stake in shares of Paycom Software in the 2nd quarter worth about $203,000. Finally, Fiduciary Trust Co. bought a new stake in shares of Paycom Software in the 2nd quarter worth about $215,000. Hedge funds and other institutional investors own 88.41% of the company’s stock.

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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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