Paycom Software (NYSE:PAYC) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a report released on Wednesday, ValuEngine reports.

Other research analysts have also recently issued reports about the stock. Bank of America restated a “neutral” rating and set a $250.00 price target (up from $215.00) on shares of Paycom Software in a report on Wednesday, July 31st. Zacks Investment Research upgraded Paycom Software from a “hold” rating to a “buy” rating and set a $259.00 target price on the stock in a research note on Wednesday, August 21st. Credit Suisse Group lifted their price target on Paycom Software from $190.00 to $235.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. They noted that the move was a valuation call. Jefferies Financial Group cut Paycom Software from a “buy” rating to a “hold” rating and set a $233.00 price objective on the stock. in a research report on Friday, July 19th. Finally, Needham & Company LLC increased their price target on shares of Paycom Software from $230.00 to $280.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Ten analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $226.79.

NYSE PAYC traded down $4.62 during mid-day trading on Wednesday, hitting $206.70. The company’s stock had a trading volume of 982,449 shares, compared to its average volume of 668,431. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.07. The company’s 50 day simple moving average is $240.74 and its 200 day simple moving average is $213.92. Paycom Software has a twelve month low of $107.46 and a twelve month high of $259.71. The firm has a market capitalization of $12.24 billion, a price-to-earnings ratio of 94.82, a PEG ratio of 3.09 and a beta of 1.45.

Paycom Software (NYSE:PAYC) last released its quarterly earnings data on Tuesday, July 30th. The software maker reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.14. Paycom Software had a net margin of 23.93% and a return on equity of 38.25%. The firm had revenue of $169.30 million for the quarter, compared to analyst estimates of $163.88 million. During the same period last year, the firm earned $0.59 earnings per share. The business’s quarterly revenue was up 31.4% compared to the same quarter last year. As a group, research analysts forecast that Paycom Software will post 2.74 EPS for the current year.

In other news, COO Jon Evans sold 2,100 shares of the firm’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $240.47, for a total value of $504,987.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jeffrey D. York sold 25,000 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $232.84, for a total value of $5,821,000.00. The disclosure for this sale can be found here. 16.09% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. CSat Investment Advisory L.P. bought a new position in Paycom Software in the 2nd quarter valued at $34,000. Global Retirement Partners LLC boosted its stake in Paycom Software by 100.0% during the first quarter. Global Retirement Partners LLC now owns 200 shares of the software maker’s stock valued at $38,000 after buying an additional 100 shares during the period. Riverhead Capital Management LLC bought a new stake in Paycom Software during the second quarter valued at $45,000. Pittenger & Anderson Inc. boosted its stake in Paycom Software by 1,125.0% during the first quarter. Pittenger & Anderson Inc. now owns 245 shares of the software maker’s stock valued at $46,000 after buying an additional 225 shares during the period. Finally, Flagship Harbor Advisors LLC grew its position in Paycom Software by 404.8% during the second quarter. Flagship Harbor Advisors LLC now owns 212 shares of the software maker’s stock worth $48,000 after buying an additional 170 shares in the last quarter. 72.73% of the stock is currently owned by institutional investors and hedge funds.

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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Analyst Recommendations for Paycom Software (NYSE:PAYC)

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