Paycom Software (NYSE:PAYC) Stock Rating Upgraded by Wall Street Zen

Paycom Software (NYSE:PAYC) was upgraded by equities researchers at Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday, Wall Street Zen reports.

Several other analysts have also commented on the company. Cantor Fitzgerald boosted their price target on Paycom Software from $195.00 to $285.00 and gave the company a “neutral” rating in a research note on Friday, October 30th. Zacks Research lowered Paycom Software from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 5th. Weiss Ratings raised shares of Paycom Software from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 8th. Bank of America assumed coverage on shares of Paycom Software in a report on Tuesday, September 29th. They issued an “underperform” rating and a $200.00 price target for the company. Finally, Jefferies Financial Group upped their price target on Paycom Software from $160.00 to $300.00 and gave the company a “hold” rating in a research note on Tuesday, October 27th. Four equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $255.36.

Paycom Software Stock Performance

Shares of PAYC traded down $1.32 on Friday, reaching $236.00. 1,160,502 shares of the stock traded hands, compared to its average volume of 1,160,693. The firm has a market cap of $10.63 billion, a price-to-earnings ratio of 22.61, a P/E/G ratio of 1.26 and a beta of 0.75. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.06 and a quick ratio of 1.06. Paycom Software has a 12 month low of $104.90 and a 12 month high of $275.22. The stock’s 50-day moving average price is $238.29 and its 200-day moving average price is $166.73.

Paycom Software (NYSE:PAYC) last released its quarterly earnings data on Wednesday, November 4th. The software maker reported $3.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.81 by $0.56. The business had revenue of $543.80 million for the quarter, compared to analysts’ expectations of $535.26 million. Paycom Software had a return on equity of 52.12% and a net margin of 23.28%. Paycom Software’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period in the previous year, the business posted $1.94 earnings per share. Equities analysts forecast that Paycom Software will post 10.92 EPS for the current fiscal year.

Insider Activity

In other news, insider Shane Hadlock sold 2,577 shares of the company’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $237.60, for a total transaction of $612,295.20. Following the transaction, the insider owned 70,152 shares of the company’s stock, valued at $16,668,115.20. This represents a 3.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 13.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Paycom Software

Several large investors have recently made changes to their positions in PAYC. TD Waterhouse Canada Inc. acquired a new position in Paycom Software in the third quarter valued at about $25,000. Laurel Wealth Advisors LLC bought a new stake in shares of Paycom Software in the third quarter worth about $28,000. Caitlin John LLC bought a new stake in shares of Paycom Software in the second quarter worth about $31,000. Silver Grove Financial Group Inc. increased its holdings in shares of Paycom Software by 134.4% in the third quarter. Silver Grove Financial Group Inc. now owns 143 shares of the software maker’s stock worth $31,000 after acquiring an additional 82 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Paycom Software in the second quarter worth about $33,000. Institutional investors and hedge funds own 87.77% of the company’s stock.

About Paycom Software

Paycom Software, Inc. provides cloud-based human capital management (HCM) software that helps employers manage payroll and related workforce processes through a unified platform. Its services support organizations throughout the employee life cycle, from hiring and onboarding to payroll, benefits administration, time and labor management, and talent management. The company’s platform includes employee self-service tools and Beti, a feature that enables employees to review and complete their own payroll.