Paycom Software (NYSE:PAYC) Stock Rating Lowered by BTIG Research

Paycom Software (NYSE:PAYC) was downgraded by research analysts at BTIG Research from a “buy” rating to a “neutral” rating in a note issued to investors on Thursday, MarketBeat Ratings reports.

A number of other research analysts have also weighed in on the stock. BMO Capital Markets boosted their target price on shares of Paycom Software from $145.00 to $208.00 and gave the stock a “market perform” rating in a research report on Thursday, August 6th. JPMorgan Chase & Co. boosted their price objective on Paycom Software from $140.00 to $264.00 and gave the company a “neutral” rating in a research report on Tuesday, August 25th. Zacks Research lowered Paycom Software from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 5th. Cantor Fitzgerald increased their price target on Paycom Software from $195.00 to $285.00 and gave the stock a “neutral” rating in a research report on Friday, October 30th. Finally, Citigroup increased their price objective on shares of Paycom Software from $194.00 to $279.00 and gave the stock a “neutral” rating in a report on Tuesday, October 27th. Four investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $256.21.

Paycom Software Trading Up 2.1%

Shares of PAYC stock opened at $268.39 on Thursday. Paycom Software has a 12 month low of $104.90 and a 12 month high of $275.22. The company has a market cap of $12.10 billion, a PE ratio of 28.52, a price-to-earnings-growth ratio of 1.41 and a beta of 0.75. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.57. The business’s 50 day moving average is $237.97 and its two-hundred day moving average is $165.78.

Paycom Software (NYSE:PAYC) last issued its quarterly earnings data on Wednesday, November 4th. The software maker reported $3.37 earnings per share for the quarter, topping analysts’ consensus estimates of $2.81 by $0.56. The business had revenue of $543.80 million during the quarter, compared to analysts’ expectations of $535.26 million. Paycom Software had a net margin of 22.78% and a return on equity of 37.06%. Paycom Software’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period in the previous year, the company earned $1.94 earnings per share. Equities analysts predict that Paycom Software will post 10.80 EPS for the current year.

Insider Buying and Selling

In other Paycom Software news, insider Shane Hadlock sold 241 shares of the stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $240.07, for a total value of $57,856.87. Following the transaction, the insider owned 69,911 shares of the company’s stock, valued at approximately $16,783,533.77. This represents a 0.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 13.20% of the company’s stock.

Hedge Funds Weigh In On Paycom Software

Institutional investors have recently modified their holdings of the stock. Pictet Asset Management Holding SA boosted its position in shares of Paycom Software by 0.6% during the 3rd quarter. Pictet Asset Management Holding SA now owns 6,240 shares of the software maker’s stock worth $1,358,000 after acquiring an additional 40 shares in the last quarter. Childress Capital Advisors LLC boosted its holdings in shares of Paycom Software by 1.4% in the 3rd quarter. Childress Capital Advisors LLC now owns 2,951 shares of the software maker’s stock valued at $642,000 after purchasing an additional 42 shares in the last quarter. Archford Capital Strategies LLC boosted its holdings in shares of Paycom Software by 1.1% in the 2nd quarter. Archford Capital Strategies LLC now owns 4,684 shares of the software maker’s stock valued at $589,000 after purchasing an additional 49 shares in the last quarter. CX Institutional increased its stake in shares of Paycom Software by 4.7% in the 3rd quarter. CX Institutional now owns 1,399 shares of the software maker’s stock valued at $304,000 after purchasing an additional 63 shares during the last quarter. Finally, Versant Capital Management Inc increased its stake in shares of Paycom Software by 2.6% in the 3rd quarter. Versant Capital Management Inc now owns 2,689 shares of the software maker’s stock valued at $585,000 after purchasing an additional 69 shares during the last quarter. 87.77% of the stock is currently owned by institutional investors and hedge funds.

Paycom Software News Summary

Here are the key news stories impacting Paycom Software this week:

• Positive Sentiment: Paycom earned $3.37 per share, beating analysts’ estimates of roughly $2.80 and rising from $1.94 a year earlier. Revenue increased 10.2% year over year to $543.8 million, also topping expectations. The earnings beat and profit growth are likely the main positive catalysts. Zacks Q3 earnings article
• Positive Sentiment: The company declared its first cash dividend, introducing a new way to return capital to shareholders. The report provided here does not specify the dividend amount. Yahoo Finance dividend article

Paycom Software Company Profile

Paycom Software, Inc is a provider of cloud-based human capital management (HCM) software designed to help businesses manage employee-related processes through a unified platform. Its solutions support payroll, human resources, talent acquisition and management, time and labor management, compliance, and employee engagement.

The company’s software is intended to allow employers and employees to enter and manage workforce information within a single system. Its offerings include payroll processing, benefits administration, expense management, scheduling, performance management, learning, and recruiting tools.