ValuEngine Downgrades Paycom Software (PAYC) to Hold

Paycom Software (NYSE:PAYC) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

Several other analysts have also issued reports on the company. Zacks Investment Research lowered Paycom Software from a “buy” rating to a “hold” rating in a report on Friday, May 4th. Canaccord Genuity reiterated a “buy” rating and set a $125.00 price objective on shares of Paycom Software in a report on Wednesday, May 2nd. Credit Suisse Group increased their price objective on Paycom Software from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Wednesday, May 2nd. Barclays increased their price objective on Paycom Software from $115.00 to $117.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 2nd. Finally, First Analysis lowered Paycom Software from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $108.00 to $122.00 in a report on Wednesday, May 2nd. Nine research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $102.29.

Shares of NYSE:PAYC opened at $100.03 on Wednesday. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.10. Paycom Software has a 1 year low of $64.50 and a 1 year high of $118.45. The firm has a market cap of $6.00 billion, a P/E ratio of 113.67, a PEG ratio of 2.28 and a beta of 1.41.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings data on Tuesday, May 1st. The software maker reported $0.95 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.05. Paycom Software had a return on equity of 42.85% and a net margin of 17.62%. The business had revenue of $153.92 million during the quarter, compared to analyst estimates of $151.42 million. During the same period last year, the company earned $0.47 earnings per share. Paycom Software’s quarterly revenue was up 28.8% compared to the same quarter last year. analysts anticipate that Paycom Software will post 1.83 earnings per share for the current year.

In other news, insider Jeffrey D. York sold 50,000 shares of the firm’s stock in a transaction dated Monday, April 2nd. The stock was sold at an average price of $104.27, for a total value of $5,213,500.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Stacey M. Pezold sold 58,000 shares of the firm’s stock in a transaction dated Monday, April 16th. The shares were sold at an average price of $111.20, for a total value of $6,449,600.00. The disclosure for this sale can be found here. Insiders have sold 144,100 shares of company stock worth $15,594,731 over the last three months. Company insiders own 16.24% of the company’s stock.

Large investors have recently modified their holdings of the company. Advisors Preferred LLC acquired a new stake in shares of Paycom Software in the first quarter valued at about $117,000. IFP Advisors Inc grew its position in shares of Paycom Software by 181.0% in the first quarter. IFP Advisors Inc now owns 1,124 shares of the software maker’s stock valued at $121,000 after purchasing an additional 724 shares during the last quarter. Envestnet Asset Management Inc. grew its position in shares of Paycom Software by 613.3% in the first quarter. Envestnet Asset Management Inc. now owns 1,398 shares of the software maker’s stock valued at $149,000 after purchasing an additional 1,202 shares during the last quarter. Aperio Group LLC acquired a new stake in shares of Paycom Software in the fourth quarter valued at about $201,000. Finally, D.A. Davidson & CO. acquired a new stake in shares of Paycom Software in the first quarter valued at about $204,000. 82.41% of the stock is currently owned by institutional investors.

Paycom Software Company Profile

Paycom Software, Inc provides cloud-based human capital management (HCM) software service for small to mid-sized companies in the United States. It provides functionality and data analytics that businesses need to manage the employment life cycle from recruitment to retirement. The company's HCM solution offers a suite of applications in the areas of talent acquisition, including applicant tracking, candidate tracker, background checks, on-boarding, e-verify, and tax credit services; and time and labor management, such as time and attendance, scheduling/schedule exchange, time-off requests, labor allocation, labor management reports/push reporting, and geofencing/geotracking.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Paycom Software (NYSE:PAYC)

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