Paycom Software, Inc. (PAYC) Receives $84.06 Average Target Price from Analysts
Paycom Software, Inc. (NYSE:PAYC) has been given an average rating of “Buy” by the twenty ratings firms that are presently covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a hold recommendation, thirteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $84.06.
A number of equities research analysts have recently weighed in on PAYC shares. Zacks Investment Research upgraded Paycom Software from a “hold” rating to a “buy” rating and set a $87.00 price target for the company in a report on Friday, November 3rd. Barclays boosted their price target on Paycom Software from $74.00 to $82.00 and gave the company an “overweight” rating in a report on Wednesday, September 13th. Robert W. Baird restated a “buy” rating and set a $78.00 price objective on shares of Paycom Software in a research note on Tuesday, September 12th. Stifel Nicolaus restated a “buy” rating and set a $85.00 price objective on shares of Paycom Software in a research note on Friday, November 3rd. Finally, Bank of America initiated coverage on Paycom Software in a research note on Monday, November 6th. They set a “buy” rating and a $92.00 price objective for the company.
Shares of Paycom Software (NYSE PAYC) traded up $1.77 during midday trading on Monday, hitting $81.34. The stock had a trading volume of 593,744 shares, compared to its average volume of 585,204. Paycom Software has a 1-year low of $42.52 and a 1-year high of $86.10. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.21. The company has a market cap of $4,820.00, a P/E ratio of 74.36, a price-to-earnings-growth ratio of 3.42 and a beta of 1.68.
Paycom Software (NYSE:PAYC) last issued its quarterly earnings results on Tuesday, October 31st. The software maker reported $0.29 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.10. Paycom Software had a return on equity of 44.27% and a net margin of 15.37%. The business had revenue of $101.30 million during the quarter, compared to the consensus estimate of $100.47 million. During the same period in the previous year, the business earned $0.15 EPS. The business’s quarterly revenue was up 31.0% on a year-over-year basis. research analysts forecast that Paycom Software will post 0.82 EPS for the current year.
In other Paycom Software news, CFO Craig E. Boelte sold 11,000 shares of the business’s stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $78.92, for a total transaction of $868,120.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jeffrey D. York sold 40,000 shares of the business’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $74.81, for a total value of $2,992,400.00. The disclosure for this sale can be found here. Insiders own 17.90% of the company’s stock.
A number of hedge funds have recently made changes to their positions in PAYC. Russell Investments Group Ltd. boosted its position in Paycom Software by 7.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 71,438 shares of the software maker’s stock worth $4,887,000 after acquiring an additional 4,955 shares during the period. Strs Ohio lifted its holdings in shares of Paycom Software by 112.9% in the second quarter. Strs Ohio now owns 6,600 shares of the software maker’s stock valued at $451,000 after buying an additional 3,500 shares during the period. State of New Jersey Common Pension Fund D acquired a new stake in shares of Paycom Software in the second quarter valued at $2,244,000. Schwab Charles Investment Management Inc. lifted its holdings in shares of Paycom Software by 7.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 187,789 shares of the software maker’s stock valued at $12,847,000 after buying an additional 12,528 shares during the period. Finally, First Trust Advisors LP lifted its holdings in shares of Paycom Software by 61.7% in the second quarter. First Trust Advisors LP now owns 96,162 shares of the software maker’s stock valued at $6,578,000 after buying an additional 36,678 shares during the period. Institutional investors own 88.54% of the company’s stock.
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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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