Paycom Software (NYSE:PAYC) Price Target Raised to $255.00

Paycom Software (NYSE:PAYC) had its target price raised by Oppenheimer from $220.00 to $255.00 in a report released on Wednesday morning, The Fly reports. They currently have an outperform rating on the software maker’s stock.

Several other equities analysts have also issued reports on PAYC. ValuEngine upgraded Paycom Software from a buy rating to a strong-buy rating in a research note on Friday, June 7th. KeyCorp lifted their price target on Paycom Software from $246.00 to $275.00 and gave the company an overweight rating in a research note on Wednesday. Credit Suisse Group lifted their price target on Paycom Software from $190.00 to $235.00 and gave the company a neutral rating in a research note on Wednesday. They noted that the move was a valuation call. Bank of America reiterated a neutral rating and issued a $250.00 price target (up previously from $215.00) on shares of Paycom Software in a research note on Wednesday. Finally, Northland Securities lifted their price target on Paycom Software from $215.00 to $275.00 and gave the company an outperform rating in a research note on Tuesday, July 9th. Ten investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $216.29.

NYSE PAYC traded down $1.36 during midday trading on Wednesday, hitting $236.52. The company had a trading volume of 507,157 shares, compared to its average volume of 621,837. The stock has a market cap of $13.92 billion, a P/E ratio of 108.50, a PEG ratio of 3.38 and a beta of 1.59. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.08. The business has a 50-day moving average of $232.38. Paycom Software has a twelve month low of $107.46 and a twelve month high of $246.85.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings data on Tuesday, July 30th. The software maker reported $0.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.61 by $0.14. The firm had revenue of $169.30 million during the quarter, compared to analysts’ expectations of $163.88 million. Paycom Software had a return on equity of 40.09% and a net margin of 23.93%. The company’s quarterly revenue was up 31.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.59 EPS. As a group, equities analysts predict that Paycom Software will post 2.74 EPS for the current fiscal year.

In related news, COO Jon Evans sold 2,047 shares of the business’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $200.30, for a total transaction of $410,014.10. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Bradley Scott Smith sold 2,600 shares of the business’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $200.95, for a total value of $522,470.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 31,747 shares of company stock worth $6,546,721. Corporate insiders own 16.09% of the company’s stock.

Hedge funds have recently modified their holdings of the stock. Global Retirement Partners LLC grew its position in Paycom Software by 100.0% during the 1st quarter. Global Retirement Partners LLC now owns 200 shares of the software maker’s stock worth $38,000 after acquiring an additional 100 shares during the last quarter. CWM LLC bought a new stake in Paycom Software during the 1st quarter worth $45,000. Pittenger & Anderson Inc. grew its position in Paycom Software by 1,125.0% during the 1st quarter. Pittenger & Anderson Inc. now owns 245 shares of the software maker’s stock worth $46,000 after acquiring an additional 225 shares during the last quarter. Flagship Harbor Advisors LLC grew its position in Paycom Software by 404.8% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 212 shares of the software maker’s stock worth $48,000 after acquiring an additional 170 shares during the last quarter. Finally, Icon Wealth Partners LLC bought a new stake in Paycom Software during the 1st quarter worth $53,000. Institutional investors and hedge funds own 74.48% of the company’s stock.

About Paycom Software

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.

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The Fly

Analyst Recommendations for Paycom Software (NYSE:PAYC)

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