KeyCorp reiterated their buy rating on shares of Paycom Software (NYSE:PAYC) in a report released on Monday. They currently have a $105.00 price target on the software maker’s stock.
“We view Paycom as a high-quality SaaS name and upgrade our rating to Overweight based on (1) a proven direct sales strategy that could sustain 20% + revenue growth via share gains irrespective of economic cycles, (2) a best- in-class efficiency model with >40% EBITDA margins, (3) low penetration of a large $26B+ TAM, (4) little to no ACA risk that has been tabled through 2019, and (5) a favorable risk/reward at 18x EV/EBITDA on 2019. We are establishing a PT of $105 and raising estimates on lower taxes and our new ASC 606 model. Key Investment Points The organic driven growth model is proven, consistent, and resilient. We have been impressed by Paycom’s ability to deliver steady and consistent organic growth leveraging a proven, direct sales strategy into 45 office locations at the end of last year. Revenue growth per location has consistently grown 20% in each of the last four years. An acceleration in new office locations this year (modeling 5 vs. 3 last year) gives us.”,” the firm’s analyst commented.
Other equities research analysts have also issued reports about the stock. Mizuho dropped their target price on shares of Paycom Software from $85.00 to $80.00 and set a neutral rating for the company in a research report on Wednesday, February 7th. Barclays lifted their target price on shares of Paycom Software from $96.00 to $97.00 and gave the company an overweight rating in a research report on Wednesday, February 7th. Stifel Nicolaus lifted their target price on shares of Paycom Software from $85.00 to $90.00 and gave the company a buy rating in a research report on Wednesday, February 7th. Zacks Investment Research upgraded shares of Paycom Software from a hold rating to a strong-buy rating and set a $97.00 target price for the company in a research report on Friday. Finally, Bank of America lifted their target price on shares of Paycom Software from $92.00 to $105.00 and gave the company a buy rating in a research report on Wednesday, February 7th. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. The company presently has an average rating of Buy and an average price target of $88.56.
Paycom Software (NYSE PAYC) opened at $84.51 on Monday. The company has a market cap of $5,000.00, a P/E ratio of 74.13, a P/E/G ratio of 2.07 and a beta of 1.70. Paycom Software has a 12 month low of $50.80 and a 12 month high of $93.61. The company has a debt-to-equity ratio of 0.21, a quick ratio of 1.05 and a current ratio of 1.05.
Paycom Software (NYSE:PAYC) last issued its quarterly earnings data on Tuesday, February 6th. The software maker reported $0.29 EPS for the quarter, beating the consensus estimate of $0.24 by $0.05. The company had revenue of $114.00 million during the quarter, compared to analysts’ expectations of $113.01 million. Paycom Software had a net margin of 15.43% and a return on equity of 45.18%. Paycom Software’s revenue for the quarter was up 29.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.18 earnings per share. equities analysts forecast that Paycom Software will post 1.56 EPS for the current year.
In other news, insider Jeffrey D. York sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $79.97, for a total value of $3,998,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Craig E. Boelte sold 11,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $78.92, for a total transaction of $868,120.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 79,750 shares of company stock valued at $6,533,308. Company insiders own 17.90% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Eqis Capital Management Inc. lifted its holdings 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 worth $425,000 after acquiring an additional 687 shares during the last quarter. Mutual of America Capital Management LLC lifted its holdings 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 worth $3,137,000 after acquiring an additional 4,050 shares during the last quarter. Stifel Financial Corp lifted its holdings in shares of Paycom Software by 42.2% in the 3rd quarter. Stifel Financial Corp now owns 12,630 shares of the software maker’s stock worth $946,000 after acquiring an additional 3,748 shares during the last quarter. Chicago Equity Partners LLC lifted its holdings in shares of Paycom Software by 211.0% in the 3rd quarter. Chicago Equity Partners LLC now owns 24,785 shares of the software maker’s stock worth $1,858,000 after acquiring an additional 16,815 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Paycom Software by 19.8% in the 3rd quarter. Ameriprise Financial Inc. now owns 233,043 shares of the software maker’s stock worth $17,469,000 after acquiring an additional 38,596 shares during the last quarter. Hedge funds and other institutional investors own 87.12% 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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