Paycom Software (NYSE:PAYC) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued on Friday. The firm presently has a $97.00 price objective on the software maker’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 16.38% from the company’s current price.
According to Zacks, “Provider of cloud-based HCM software as a service solution, Paycom has outperformed the broader market over the last one year. The company reported outstanding fourth-quarter 2017 results and provided an encouraging first-quarter and full year 2018 revenue guidance. Revenue growth seems to be steady and was positively impacted by higher recurring revenues and higher traction in cloud-based offerings. Better-than-expected demand for advanced human capital management and payroll software solutions during the reported quarter were the other positives. Going ahead, Paycom might witness long-term growth by successfully cross-selling newer products to the existing client base, which will boost revenues. Nevertheless, competition from companies likes Paylocity Holding Corporation, Intuit Inc. and Paychex, Inc. remains a headwind.”
PAYC has been the topic of several other reports. Stifel Nicolaus reissued a “buy” rating and set a $85.00 price target on shares of Paycom Software in a research report on Friday, November 3rd. Wells Fargo & Co set a $89.00 price target on Paycom Software and gave the stock a “buy” rating in a research report on Wednesday, November 1st. Robert W. Baird reissued a “buy” rating and set a $82.00 price target on shares of Paycom Software in a research report on Wednesday, November 1st. Oppenheimer reissued a “buy” rating and set a $88.00 price target (up from $75.00) on shares of Paycom Software in a research report on Wednesday, November 1st. Finally, Dougherty & Co began coverage on Paycom Software in a research report on Tuesday, October 31st. They set a “buy” rating and a $100.00 price target on the stock. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $87.94.
Paycom Software (PAYC) opened at $83.35 on Friday. The firm has a market capitalization of $4,816.71, a PE ratio of 73.11, a PEG ratio of 2.56 and a beta of 1.70. Paycom Software has a 52 week low of $50.68 and a 52 week high of $93.61. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.21.
Paycom Software (NYSE:PAYC) last released its quarterly earnings data on Tuesday, February 6th. The software maker reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.05. The business had revenue of $114.00 million for the quarter, compared to analyst estimates of $113.01 million. Paycom Software had a return on equity of 45.18% and a net margin of 15.43%. The company’s revenue was up 29.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.18 EPS. sell-side analysts anticipate that Paycom Software will post 1.56 earnings per share for the current fiscal year.
In other Paycom Software news, insider Jeffrey D. York sold 50,000 shares of Paycom Software stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $79.97, for a total transaction of $3,998,500.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Craig E. Boelte sold 11,000 shares of Paycom Software stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $78.92, for a total value of $868,120.00. The disclosure for this sale can be found here. Insiders have sold a total of 79,750 shares of company stock worth $6,533,308 over the last 90 days. 17.90% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of the business. 1st Global Advisors Inc. increased its holdings in Paycom Software by 1.4% during the 2nd quarter. 1st Global Advisors Inc. now owns 5,567 shares of the software maker’s stock worth $381,000 after purchasing an additional 75 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in Paycom Software by 7.2% during the 2nd quarter. PNC Financial Services Group Inc. now owns 2,220 shares of the software maker’s stock worth $152,000 after purchasing an additional 150 shares during the last quarter. Stifel Financial Corp increased its holdings in Paycom Software by 3.8% during the 2nd quarter. Stifel Financial Corp now owns 8,882 shares of the software maker’s stock worth $612,000 after purchasing an additional 328 shares during the last quarter. Ameritas Investment Partners Inc. increased its holdings in Paycom Software by 13.9% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,329 shares of the software maker’s stock worth $296,000 after purchasing an additional 528 shares during the last quarter. Finally, US Bancorp DE increased its holdings in Paycom Software by 6.8% during the 4th quarter. US Bancorp DE now owns 9,220 shares of the software maker’s stock worth $740,000 after purchasing an additional 584 shares during the last quarter. Institutional investors own 87.88% of the company’s stock.
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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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