Paycom Software, Inc. (PAYC) Given “Hold” Rating at Royal Bank Of Canada
Royal Bank Of Canada reiterated their hold rating on shares of Paycom Software, Inc. (NYSE:PAYC) in a report issued on Wednesday morning. The brokerage currently has a $74.00 price objective on the software maker’s stock.
A number of other equities research analysts also recently issued reports on PAYC. Canaccord Genuity boosted their price target on Paycom Software from $70.00 to $80.00 and gave the company a buy rating in a research report on Tuesday, June 27th. BidaskClub downgraded Paycom Software from a strong-buy rating to a buy rating in a research report on Thursday, June 29th. Credit Suisse Group reissued a buy rating on shares of Paycom Software in a research report on Monday, July 3rd. Mizuho downgraded Paycom Software from a buy rating to a neutral rating and set a $70.00 price target for the company. in a research report on Monday, July 10th. Finally, Barclays PLC reissued a buy rating and set a $74.00 price target on shares of Paycom Software in a research report on Wednesday, July 19th. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Paycom Software presently has an average rating of Buy and an average target price of $76.63.
Shares of Paycom Software (NYSE PAYC) traded down 0.43% during trading on Wednesday, hitting $79.24. The stock had a trading volume of 284,477 shares. Paycom Software has a 12-month low of $39.15 and a 12-month high of $79.98. The stock’s 50 day moving average is $75.77 and its 200-day moving average is $68.87. The company has a market cap of $4.59 billion, a PE ratio of 85.94 and a beta of 1.72.
Paycom Software (NYSE:PAYC) last posted its quarterly earnings results 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 firm had revenue of $98.20 million during the quarter, compared to the consensus estimate of $95.98 million. During the same quarter in the previous year, the business earned $0.21 earnings per share. The firm’s quarterly revenue was up 32.9% compared to the same quarter last year. Analysts forecast that Paycom Software will post $1.15 earnings per share for the current year.
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In other Paycom Software news, insider Jeffrey D. York sold 40,000 shares of the business’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $74.81, for a total transaction of $2,992,400.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Craig E. Boelte sold 11,000 shares of the business’s stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $74.72, for a total value of $821,920.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 61,000 shares of company stock worth $4,564,520. 17.90% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently modified their holdings of PAYC. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Paycom Software by 10.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,835 shares of the software maker’s stock worth $126,000 after acquiring an additional 167 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Paycom Software by 7.2% in the second quarter. PNC Financial Services Group Inc. now owns 2,220 shares of the software maker’s stock worth $152,000 after acquiring an additional 150 shares in the last quarter. Bfsg LLC acquired a new position in shares of Paycom Software in the first quarter worth about $203,000. Raymond James Trust N.A. acquired a new position in shares of Paycom Software in the second quarter worth about $203,000. Finally, Fiduciary Trust Co. acquired a new position in shares of Paycom Software in the second quarter worth about $215,000. Institutional investors own 86.05% of the company’s stock.
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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