Paycom Software Inc. (PAYC) Receives New Coverage from Analysts at RBC Capital Markets
RBC Capital Markets assumed coverage on shares of Paycom Software Inc. (NYSE:PAYC) in a report issued on Friday morning. The firm issued a sector perform rating and a $54.00 price target on the stock.
A number of other research firms have also weighed in on PAYC. Royal Bank Of Canada began coverage on shares of Paycom Software in a research report on Friday. They issued a sector perform rating and a $54.00 price objective on the stock. Barclays PLC reissued an overweight rating and issued a $55.00 price objective (up from $51.00) on shares of Paycom Software in a research report on Tuesday, September 13th. Credit Suisse Group AG reissued a buy rating and issued a $51.00 price objective on shares of Paycom Software in a research report on Monday, August 22nd. Zacks Investment Research lowered shares of Paycom Software from a buy rating to a hold rating in a research report on Thursday, August 11th. Finally, TheStreet lowered shares of Paycom Software from a buy rating to a hold rating in a research report on Wednesday, August 3rd. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Paycom Software currently has a consensus rating of Buy and a consensus target price of $52.38.
Shares of Paycom Software (NYSE:PAYC) traded down 0.80% on Friday, hitting $49.73. The stock had a trading volume of 48,649 shares. The stock’s 50-day moving average price is $50.10 and its 200 day moving average price is $43.09. The company has a market cap of $2.86 billion, a PE ratio of 77.82 and a beta of 2.02. Paycom Software has a 52 week low of $22.42 and a 52 week high of $52.93.
Paycom Software (NYSE:PAYC) last announced its earnings results on Tuesday, August 2nd. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.08. The firm had revenue of $73.88 million for the quarter, compared to analysts’ expectations of $70.34 million. Paycom Software had a net margin of 13.36% and a return on equity of 33.66%. The business’s revenue was up 50.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.10 EPS. On average, analysts predict that Paycom Software will post $0.77 EPS for the current year.
In other news, COO Stacey M. Pezold sold 40,000 shares of the stock in a transaction that occurred on Wednesday, August 17th. The shares were sold at an average price of $50.01, for a total transaction of $2,000,400.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider William X. Kerber III sold 55,000 shares of the stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $52.08, for a total transaction of $2,864,400.00. The disclosure for this sale can be found here. 18.70% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in Paycom Software during the fourth quarter worth about $12,042,000. Commonwealth Equity Services Inc acquired a new position in Paycom Software during the first quarter worth about $356,000. Virginia Retirement System acquired a new position in Paycom Software during the first quarter worth about $548,000. Los Angeles Capital Management & Equity Research Inc. acquired a new position in Paycom Software during the first quarter worth about $656,000. Finally, Teachers Advisors Inc. increased its position in Paycom Software by 15.5% in the first quarter. Teachers Advisors Inc. now owns 54,035 shares of the company’s stock worth $1,924,000 after buying an additional 7,246 shares in the last quarter. Hedge funds and other institutional investors own 80.42% of the company’s stock.
About Paycom Software
Paycom Software, Inc (Paycom) is a provider of cloud-based human capital management (HCM) software solution delivered as software as a service (SaaS). The Company’s solution is based on a system of record maintained in a single database for all HCM functions, including talent acquisition, time and labor management, payroll, talent management and human resources (HR) management applications.
Receive News & Stock Ratings for Paycom Software Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Paycom Software Inc. and related stocks with our FREE daily email newsletter.