Bank of America Reiterates “Neutral” Rating for Paycom Software (NYSE:PAYC)

Paycom Software (NYSE:PAYC)‘s stock had its “neutral” rating reissued by equities research analysts at Bank of America in a research note issued on Wednesday, Briefing.com Automated Import reports. They currently have a $250.00 price target on the software maker’s stock, up from their previous price target of $215.00. Bank of America‘s target price would indicate a potential upside of 6.02% from the company’s previous close.

Other research analysts also recently issued research reports about the company. Barclays upped their price objective on Paycom Software from $175.00 to $185.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 1st. Stifel Nicolaus upped their price objective on Paycom Software from $150.00 to $179.00 and gave the stock a “hold” rating in a report on Wednesday, May 1st. Northland Securities upped their price objective on Paycom Software from $215.00 to $275.00 and gave the stock an “outperform” rating in a report on Tuesday, July 9th. Needham & Company LLC upped their price objective on Paycom Software from $230.00 to $280.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Jefferies Financial Group downgraded Paycom Software from a “buy” rating to a “hold” rating and set a $233.00 price objective on the stock. in a report on Friday, July 19th. Ten research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $216.29.

NYSE PAYC traded down $2.07 during trading hours on Wednesday, reaching $235.81. 2,787 shares of the company’s stock were exchanged, compared to its average volume of 503,530. The company has a market cap of $13.38 billion, a PE ratio of 108.37, a PEG ratio of 3.27 and a beta of 1.63. Paycom Software has a one year low of $107.46 and a one year high of $246.85. The business’s fifty day simple moving average is $231.99. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.04 and a current ratio of 1.04.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings data on Tuesday, July 30th. The software maker reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.14. Paycom Software had a return on equity of 39.02% and a net margin of 23.38%. The firm had revenue of $169.30 million for the quarter, compared to the consensus estimate of $163.88 million. During the same quarter in the prior year, the business earned $0.59 EPS. The business’s revenue for the quarter was up 31.4% compared to the same quarter last year. On average, equities analysts forecast that Paycom Software will post 2.6 earnings per share for the current fiscal year.

In other news, COO Jon Evans sold 2,100 shares of the 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 filing with the SEC, which is accessible through the SEC website. Also, insider Jeffrey D. York sold 25,000 shares of the stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $204.37, for a total value of $5,109,250.00. The disclosure for this sale can be found here. In the last three months, insiders sold 31,747 shares of company stock worth $6,546,721. 16.09% of the stock is currently owned by company insiders.

Several hedge funds have recently bought and sold shares of PAYC. BlackRock Inc. raised its stake in Paycom Software by 0.6% during the 1st quarter. BlackRock Inc. now owns 2,225,342 shares of the software maker’s stock worth $420,878,000 after buying an additional 12,749 shares during the period. Kayne Anderson Rudnick Investment Management LLC raised its stake in Paycom Software by 1.7% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,997,361 shares of the software maker’s stock worth $377,761,000 after buying an additional 32,751 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA raised its stake in Paycom Software by 1.2% during the 1st quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 900,333 shares of the software maker’s stock worth $170,280,000 after buying an additional 10,900 shares during the period. Jackson Square Partners LLC raised its stake in Paycom Software by 7.4% during the 1st quarter. Jackson Square Partners LLC now owns 848,952 shares of the software maker’s stock worth $160,562,000 after buying an additional 58,293 shares during the period. Finally, Janus Henderson Group PLC raised its stake in Paycom Software by 4.8% during the 1st quarter. Janus Henderson Group PLC now owns 518,544 shares of the software maker’s stock worth $98,072,000 after buying an additional 23,657 shares during the period. 74.48% of the stock is currently owned by institutional investors.

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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