Paycom Software (NYSE:PAYC) Research Coverage Started at Mizuho

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Mizuho began coverage on shares of Paycom Software (NYSE:PAYC) in a research note issued to investors on Wednesday morning, BenzingaRatingsTable reports. The firm issued a neutral rating and a $240.00 price objective on the software maker’s stock.

A number of other analysts have also recently commented on PAYC. ValuEngine cut Paycom Software from a strong-buy rating to a buy rating in a research report on Thursday, August 1st. Cantor Fitzgerald assumed coverage on Paycom Software in a research report on Tuesday, June 18th. They set a neutral rating on the stock. Oppenheimer lifted their target price on Paycom Software from $220.00 to $255.00 and gave the stock an outperform rating in a research report on Wednesday, July 31st. Needham & Company LLC lifted their target price on Paycom Software from $230.00 to $280.00 and gave the stock a buy rating in a research report on Wednesday, July 31st. Finally, Stifel Nicolaus boosted their price target on Paycom Software from $150.00 to $179.00 and gave the company a hold rating in a research report on Wednesday, May 1st. Nine analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $226.79.

PAYC opened at $248.91 on Wednesday. The business’s 50-day simple moving average is $238.70 and its 200-day simple moving average is $207.27. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.07 and a current ratio of 1.07. Paycom Software has a one year low of $107.46 and a one year high of $256.84. The stock has a market capitalization of $14.54 billion, a P/E ratio of 114.18, a price-to-earnings-growth ratio of 3.34 and a beta of 1.59.

Paycom Software (NYSE:PAYC) last posted its earnings results on Tuesday, July 30th. The software maker reported $0.75 EPS for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.14. Paycom Software had a return on equity of 38.25% and a net margin of 23.93%. The business had revenue of $169.30 million for the quarter, compared to analysts’ expectations of $163.88 million. During the same quarter in the previous year, the firm earned $0.59 earnings per share. The business’s revenue was up 31.4% compared to the same quarter last year. On average, equities research analysts forecast that Paycom Software will post 2.74 EPS for the current fiscal year.

In other Paycom Software news, COO Jon Evans sold 2,100 shares of the business’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $240.47, for a total transaction of $504,987.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Bradley Scott Smith sold 2,600 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $200.95, for a total value of $522,470.00. The disclosure for this sale can be found here. Insiders have sold a total of 29,700 shares of company stock worth $6,848,457 in the last quarter. 16.09% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CSat Investment Advisory L.P. acquired a new position in Paycom Software during the 2nd quarter worth approximately $34,000. Global Retirement Partners LLC increased its position in Paycom Software by 100.0% during the 1st quarter. Global Retirement Partners LLC now owns 200 shares of the software maker’s stock worth $38,000 after purchasing an additional 100 shares during the period. Riverhead Capital Management LLC purchased a new stake in shares of Paycom Software during the 2nd quarter worth approximately $45,000. Flagship Harbor Advisors LLC boosted its stake in shares of Paycom Software by 404.8% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 212 shares of the software maker’s stock worth $48,000 after acquiring an additional 170 shares in the last quarter. Finally, CWM LLC purchased a new stake in shares of Paycom Software during the 1st quarter worth approximately $45,000. Institutional investors own 74.89% of the company’s stock.

Paycom Software Company Profile

Paycom Software, Inc provides cloud-based human capital management (HCM) software service for small to mid-sized companies in the United States. It provides functionality and data analytics that businesses need to manage the employment life cycle from recruitment to retirement. The company's HCM solution offers a suite of applications in the areas of talent acquisition, including applicant tracking, candidate tracker, background checks, on-boarding, e-verify, and tax credit services; and time and labor management, such as time and attendance, scheduling/schedule exchange, time-off requests, labor allocation, labor management reports/push reporting, and geofencing/geotracking.

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