Barclays PLC Raises Paycom Software, Inc. (PAYC) Price Target to $87.00
Paycom Software, Inc. (NYSE:PAYC) had its target price lifted by Barclays PLC from $82.00 to $87.00 in a research note released on Wednesday. They currently have an overweight rating on the software maker’s stock.
Other equities research analysts have also recently issued reports about the stock. KeyCorp boosted their price target on shares of Paycom Software to $94.00 in a research report on Wednesday, August 2nd. Canaccord Genuity boosted their price objective on Paycom Software from $80.00 to $85.00 and gave the stock a buy rating in a report on Wednesday, August 2nd. Jefferies Group LLC restated a buy rating and set a $83.00 price objective (up previously from $73.00) on shares of Paycom Software in a report on Wednesday, August 2nd. Stifel Nicolaus boosted their price objective on Paycom Software from $67.00 to $80.00 and gave the stock a buy rating in a report on Wednesday, August 2nd. Finally, Zacks Investment Research upgraded Paycom Software from a hold rating to a buy rating and set a $78.00 price objective on the stock in a report on Friday, August 4th. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of Buy and an average price target of $82.94.
Shares of Paycom Software (PAYC) opened at $80.29 on Wednesday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $4.62 billion, a P/E ratio of 74.08, a PEG ratio of 3.60 and a beta of 1.73.
Paycom Software (NYSE:PAYC) last issued its quarterly earnings results on Tuesday, October 31st. The software maker reported $0.29 EPS for the quarter, topping the consensus estimate of $0.19 by $0.10. Paycom Software had a net margin of 15.37% and a return on equity of 46.01%. The firm had revenue of $101.30 million for the quarter, compared to analysts’ expectations of $100.47 million. During the same period in the previous year, the business earned $0.15 earnings per share. Paycom Software’s revenue for the quarter was up 31.0% compared to the same quarter last year. sell-side analysts expect that Paycom Software will post 0.79 EPS for the current fiscal year.
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In other Paycom Software news, CFO Craig E. Boelte sold 11,000 shares of Paycom Software stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $74.72, for a total transaction of $821,920.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Stacey M. Pezold sold 10,000 shares of Paycom Software stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $75.02, for a total value of $750,200.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 61,000 shares of company stock worth $4,564,520. Company insiders own 17.90% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in PAYC. Eqis Capital Management Inc. grew its stake in shares of Paycom Software by 13.8% in the 3rd quarter. Eqis Capital Management Inc. now owns 5,676 shares of the software maker’s stock valued at $425,000 after buying an additional 687 shares in the last quarter. Alps Advisors Inc. grew its stake in shares of Paycom Software by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 8,542 shares of the software maker’s stock valued at $584,000 after buying an additional 22 shares in the last quarter. Mutual of America Capital Management LLC grew its stake in shares of Paycom Software by 10.7% in the 3rd quarter. Mutual of America Capital Management LLC now owns 41,851 shares of the software maker’s stock valued at $3,137,000 after buying an additional 4,050 shares in the last quarter. TIAA CREF Investment Management LLC grew its stake in shares of Paycom Software by 11.9% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 132,900 shares of the software maker’s stock valued at $9,092,000 after buying an additional 14,144 shares in the last quarter. Finally, Federated Investors Inc. PA grew its stake in shares of Paycom Software by 372.3% in the 2nd quarter. Federated Investors Inc. PA now owns 70,163 shares of the software maker’s stock valued at $4,800,000 after buying an additional 55,308 shares in the last quarter. 86.42% of the stock is currently owned by institutional investors.
Paycom Software Company Profile
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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