Paycom Software, Inc. (NYSE:PAYC)‘s stock had its “hold” rating reiterated by equities researchers at Royal Bank Of Canada in a report issued on Wednesday. They presently have a $74.00 price target on the software maker’s stock. Royal Bank Of Canada’s price objective would indicate a potential downside of 6.61% from the company’s previous close.
Several other brokerages also recently commented on PAYC. Canaccord Genuity upped their price target on shares of Paycom Software from $70.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, June 27th. BidaskClub downgraded shares of Paycom Software from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 29th. Credit Suisse Group restated a “buy” rating on shares of Paycom Software in a research report on Monday, July 3rd. Mizuho downgraded shares of Paycom Software from a “buy” rating to a “neutral” rating and set a $70.00 price target for the company. in a research report on Monday, July 10th. Finally, Barclays PLC restated a “buy” rating and issued a $74.00 price target on shares of Paycom Software in a research report on Wednesday, July 19th. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $76.63.
Shares of Paycom Software (PAYC) traded up 1.00% on Wednesday, hitting $80.03. The company had a trading volume of 67,178 shares. The company has a 50-day moving average of $75.94 and a 200 day moving average of $68.94. The stock has a market cap of $4.64 billion, a PE ratio of 86.80 and a beta of 1.72. Paycom Software has a 12 month low of $39.15 and a 12 month high of $80.34.
Paycom Software (NYSE:PAYC) last issued its earnings results on Tuesday, August 1st. The software maker reported $0.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.11. The firm had revenue of $98.20 million during 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 35.77%. The firm’s revenue for the quarter was up 32.9% compared to the same quarter last year. During the same period last year, the firm posted $0.21 earnings per share. Analysts anticipate that Paycom Software will post $1.15 EPS for the current fiscal year.
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In related news, insider Jeffrey D. York sold 40,000 shares of the firm’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $74.81, for a total value of $2,992,400.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Craig E. Boelte sold 11,000 shares of the firm’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $74.72, for a total transaction of $821,920.00. The disclosure for this sale can be found here. Insiders have sold a total of 61,000 shares of company stock worth $4,564,520 in the last 90 days. 17.90% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of PAYC. BlackRock Inc. grew its stake in Paycom Software by 74,069.7% in the 1st quarter. BlackRock Inc. now owns 2,662,693 shares of the software maker’s stock valued at $153,132,000 after buying an additional 2,659,103 shares during the last quarter. Capital World Investors grew its stake in Paycom Software by 6.7% in the 2nd quarter. Capital World Investors now owns 6,612,914 shares of the software maker’s stock valued at $452,389,000 after buying an additional 415,000 shares during the last quarter. New York State Common Retirement Fund grew its stake in Paycom Software by 60.3% in the 2nd quarter. New York State Common Retirement Fund now owns 748,858 shares of the software maker’s stock valued at $51,229,000 after buying an additional 281,778 shares during the last quarter. Koch Industries Inc. acquired a new position in Paycom Software in the 2nd quarter valued at $271,000. Finally, Vanguard Group Inc. grew its stake in Paycom Software by 6.8% in the 2nd quarter. Vanguard Group Inc. now owns 3,727,860 shares of the software maker’s stock valued at $255,023,000 after buying an additional 236,334 shares during the last quarter. Institutional investors and hedge funds own 86.05% of the company’s stock.
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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