Paycom Software Inc. (PAYC) Given Consensus Rating of “Buy” by Brokerages
Shares of Paycom Software Inc. (NYSE:PAYC) have been assigned a consensus recommendation of “Buy” from the twelve research firms that are covering the stock. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $54.00.
Several analysts have commented on PAYC shares. JPMorgan Chase & Co. lowered shares of Paycom Software from an “overweight” rating to a “neutral” rating and set a $53.00 price objective for the company. in a report on Wednesday, November 2nd. They noted that the move was a valuation call. Barclays PLC restated an “overweight” rating and issued a $55.00 price objective (up from $51.00) on shares of Paycom Software in a report on Tuesday, September 13th. Zacks Investment Research lowered shares of Paycom Software from a “buy” rating to a “hold” rating in a report on Thursday, August 11th. TheStreet lowered shares of Paycom Software from a “buy” rating to a “hold” rating in a report on Wednesday, August 3rd. Finally, Royal Bank Of Canada began coverage on shares of Paycom Software in a report on Friday, September 30th. They set a “sector perform” rating and a $54.00 target price for the company.
In related news, Director Frederick C. Peters II bought 1,000 shares of the business’s stock in a transaction on Monday, November 14th. The stock was acquired at an average price of $41.24 per share, with a total value of $41,240.00. Following the transaction, the director now owns 21,000 shares in the company, valued at approximately $866,040. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Chad R. Richison bought 5,570 shares of the business’s stock in a transaction on Friday, November 4th. The stock was bought at an average cost of $43.21 per share, with a total value of $240,679.70. The disclosure for this purchase can be found here. Corporate insiders own 18.70% of the company’s stock.
A number of large investors have recently bought and sold shares of PAYC. California State Teachers Retirement System increased its stake in Paycom Software by 37.7% in the second quarter. California State Teachers Retirement System now owns 92,296 shares of the company’s stock worth $3,988,000 after buying an additional 25,278 shares during the period. Bank of New York Mellon Corp increased its stake in Paycom Software by 7.7% in the second quarter. Bank of New York Mellon Corp now owns 546,718 shares of the company’s stock worth $23,624,000 after buying an additional 39,057 shares during the period. Nordea Investment Management AB bought a new stake in Paycom Software during the second quarter worth approximately $493,000. Henderson Group PLC bought a new stake in Paycom Software during the second quarter worth approximately $10,215,000. Finally, Public Employees Retirement Association of Colorado increased its stake in Paycom Software by 27.4% in the second quarter. Public Employees Retirement Association of Colorado now owns 181,600 shares of the company’s stock worth $7,847,000 after buying an additional 39,100 shares during the period. 83.47% of the stock is owned by institutional investors and hedge funds.
Paycom Software (NYSE:PAYC) traded down 0.25% during trading on Monday, reaching $43.21. The company had a trading volume of 70,494 shares. The firm’s 50 day moving average price is $46.83 and its 200 day moving average price is $46.28. Paycom Software has a 12-month low of $22.42 and a 12-month high of $52.93. The firm has a market capitalization of $2.50 billion, a PE ratio of 63.73 and a beta of 1.99.
Paycom Software (NYSE:PAYC) last issued its quarterly earnings data on Tuesday, November 1st. The company reported $0.15 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.03. Paycom Software had a net margin of 13.17% and a return on equity of 27.37%. The business earned $77.30 million during the quarter, compared to analyst estimates of $76.71 million. During the same period last year, the business posted $0.08 earnings per share. Paycom Software’s quarterly revenue was up 39.8% compared to the same quarter last year. Equities research analysts forecast that Paycom Software will post $0.84 EPS for the current year.
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Paycom Software Company Profile
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.
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