Jefferies Group LLC restated their buy rating on shares of Paycom Software, Inc. (NYSE:PAYC) in a research note released on Wednesday morning. The firm currently has a $83.00 price objective on the software maker’s stock, up from their previous price objective of $73.00.
Other research analysts have also issued research reports about the company. TheStreet upgraded Paycom Software from a c rating to a b+ rating in a research report on Monday, April 17th. Stifel Nicolaus boosted their price objective on Paycom Software from $55.00 to $67.00 and gave the company a buy rating in a research report on Wednesday, May 3rd. Wunderlich boosted their price objective on Paycom Software from $62.00 to $73.00 and gave the company a buy rating in a research report on Wednesday, May 3rd. UBS AG restated a buy rating on shares of Paycom Software in a research report on Wednesday, May 3rd. Finally, Zacks Investment Research upgraded Paycom Software from a sell rating to a buy rating and set a $64.00 price objective for the company in a research report on Tuesday, April 11th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Paycom Software presently has a consensus rating of Buy and a consensus target price of $75.36.
Paycom Software (NYSE:PAYC) traded up 0.13% during midday trading on Wednesday, hitting $69.48. The stock had a trading volume of 568,571 shares. Paycom Software has a one year low of $39.15 and a one year high of $73.61. The stock has a 50-day moving average price of $69.35 and a 200 day moving average price of $60.49. The firm has a market cap of $4.03 billion, a PE ratio of 75.77 and a beta of 1.75.
Paycom Software (NYSE:PAYC) last released its quarterly earnings data on Tuesday, August 1st. The software maker reported $0.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.11. Paycom Software had a return on equity of 35.77% and a net margin of 14.28%. The business had revenue of $98.20 million during the quarter, compared to analyst estimates of $95.98 million. During the same quarter in the previous year, the firm posted $0.21 EPS. The business’s revenue for the quarter was up 32.9% compared to the same quarter last year. On average, analysts predict that Paycom Software will post $1.15 earnings per share for the current year.
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In other news, insider Jeffrey D. York sold 40,000 shares of the business’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $66.93, for a total value of $2,677,200.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Stacey M. Pezold sold 30,000 shares of the business’s stock in a transaction on Monday, June 19th. The stock was sold at an average price of $70.15, for a total value of $2,104,500.00. The disclosure for this sale can be found here. 17.90% of the stock is currently owned by insiders.
Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Paycom Software by 3.6% in the first quarter. Vanguard Group Inc. now owns 3,491,526 shares of the software maker’s stock worth $200,798,000 after buying an additional 120,345 shares in the last quarter. BlackRock Inc. increased its stake in Paycom Software by 74,069.7% in the first quarter. BlackRock Inc. now owns 2,662,693 shares of the software maker’s stock worth $153,132,000 after buying an additional 2,659,103 shares in the last quarter. Brown Capital Management LLC increased its stake in Paycom Software by 16.1% in the first quarter. Brown Capital Management LLC now owns 2,627,344 shares of the software maker’s stock worth $151,099,000 after buying an additional 364,548 shares in the last quarter. State Street Corp increased its stake in Paycom Software by 4.1% in the first quarter. State Street Corp now owns 799,092 shares of the software maker’s stock worth $45,959,000 after buying an additional 31,386 shares in the last quarter. Finally, Macquarie Group Ltd. increased its stake in Paycom Software by 24.2% in the fourth quarter. Macquarie Group Ltd. now owns 754,221 shares of the software maker’s stock worth $34,310,000 after buying an additional 147,038 shares in the last quarter. 90.83% of the stock is currently owned by institutional investors.
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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