Paycom Software, Inc. (NYSE:PAYC) PT Raised to $75.00
Paycom Software, Inc. (NYSE:PAYC) had its target price boosted by investment analysts at Oppenheimer Holdings, Inc. from $65.00 to $75.00 in a report released on Wednesday. The brokerage currently has an “outperform” rating on the software maker’s stock. Oppenheimer Holdings, Inc.’s price objective points to a potential upside of 8.08% from the company’s previous close.
A number of other equities analysts have also recently issued reports on the stock. Credit Suisse Group reiterated a “buy” rating on shares of Paycom Software in a research note on Monday, July 3rd. BidaskClub cut shares of Paycom Software from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 29th. Stifel Nicolaus upped their price target on shares of Paycom Software from $55.00 to $67.00 and gave the stock a “buy” rating in a research note on Wednesday, May 3rd. Zacks Investment Research cut shares of Paycom Software from a “buy” rating to a “hold” rating in a research note on Monday, May 8th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $73.00 price target on shares of Paycom Software in a research note on Thursday, June 8th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $74.36.
Paycom Software (NYSE PAYC) traded up 0.3207% on Wednesday, hitting $69.6125. 55,137 shares of the company were exchanged. Paycom Software has a 52 week low of $39.15 and a 52 week high of $73.61. The company has a 50 day moving average price of $69.35 and a 200-day moving average price of $60.49. The stock has a market capitalization of $4.03 billion, a P/E ratio of 75.9133 and a beta of 1.75.
Paycom Software (NYSE:PAYC) last announced its quarterly earnings results on Tuesday, August 1st. The software maker reported $0.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.11. The company had revenue of $98.20 million for the quarter, compared to analysts’ expectations of $95.98 million. Paycom Software had a net margin of 14.28% and a return on equity of 36.71%. Paycom Software’s revenue was up 32.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.21 EPS. On average, equities analysts expect that Paycom Software will post $1.15 earnings per share for the current fiscal year.
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In other news, insider Jeffrey D. York sold 40,000 shares of the stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $66.93, for a total value of $2,677,200.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Stacey M. Pezold sold 30,000 shares of the stock in a transaction that occurred on Monday, June 19th. The stock was sold at an average price of $70.15, for a total transaction of $2,104,500.00. The disclosure for this sale can be found here. 17.90% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in PAYC. Strs Ohio raised its stake in Paycom Software by 342.9% in the first quarter. Strs Ohio now owns 3,100 shares of the software maker’s stock valued at $178,000 after buying an additional 2,400 shares in the last quarter. Bfsg LLC purchased a new stake in Paycom Software during the first quarter valued at about $203,000. Ameritas Investment Partners Inc. purchased a new stake in Paycom Software during the first quarter valued at about $219,000. Eqis Capital Management Inc. purchased a new stake in Paycom Software during the first quarter valued at about $240,000. Finally, Blair William & Co. IL purchased a new stake in Paycom Software during the first quarter valued at about $243,000. 90.83% of the stock is owned by institutional investors.
About Paycom Software
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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