Paycom Software, Inc. (PAYC) Rating Increased to Strong-Buy at BidaskClub
Paycom Software, Inc. (NYSE:PAYC) was upgraded by research analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Thursday.
Several other equities analysts also recently commented on the stock. Credit Suisse Group reissued a “buy” rating on shares of Paycom Software in a research report on Monday, July 3rd. Stifel Nicolaus increased their target price on shares of Paycom Software from $55.00 to $67.00 and gave the stock a “buy” rating in a research report on Wednesday, May 3rd. Zacks Investment Research cut shares of Paycom Software from a “buy” rating to a “hold” rating in a report on Monday, May 8th. Jefferies Group LLC restated a “buy” rating and set a $73.00 price target on shares of Paycom Software in a report on Thursday, June 8th. Finally, Wunderlich upped their price target on shares of Paycom Software from $62.00 to $73.00 and gave the company a “buy” rating in a report on Wednesday, May 3rd. Four analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Paycom Software currently has a consensus rating of “Buy” and a consensus price target of $75.36.
Shares of Paycom Software (NYSE PAYC) traded down 0.94% during midday trading on Thursday, reaching $72.77. The company’s stock had a trading volume of 261,575 shares. Paycom Software has a 52 week low of $39.15 and a 52 week high of $74.82. The firm’s 50 day moving average is $70.15 and its 200 day moving average is $63.20. The firm has a market capitalization of $4.22 billion, a price-to-earnings ratio of 78.93 and a beta of 1.75.
Paycom Software (NYSE:PAYC) last posted its earnings results on Tuesday, August 1st. The software maker reported $0.24 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.11. The firm had revenue of $98.20 million for the quarter, compared to the consensus estimate of $95.98 million. Paycom Software had a net margin of 14.28% and a return on equity of 35.77%. The business’s quarterly revenue was up 32.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.21 earnings per share. Equities analysts forecast that Paycom Software will post $1.15 EPS for the current fiscal year.
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In related news, insider Stacey M. Pezold sold 30,000 shares of the stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $70.15, for a total value of $2,104,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jeffrey D. York sold 40,000 shares of the stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $66.93, for a total transaction of $2,677,200.00. The disclosure for this sale can be found here. 17.90% of the stock is currently owned by company insiders.
Several large investors have recently added to or reduced their stakes in PAYC. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Paycom Software by 10.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,835 shares of the software maker’s stock valued at $126,000 after buying an additional 167 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Paycom Software by 7.2% in the second quarter. PNC Financial Services Group Inc. now owns 2,220 shares of the software maker’s stock valued at $152,000 after buying an additional 150 shares during the last quarter. Strs Ohio boosted 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 during the last quarter. Bfsg LLC bought a new stake in Paycom Software during the first quarter valued at $203,000. Finally, Raymond James Trust N.A. bought a new stake in Paycom Software during the second quarter valued at $203,000. Institutional investors and hedge funds own 90.42% of the company’s stock.
Paycom Software Company Profile
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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