Paycom Software (NYSE:PAYC) Cut to “Buy” at ValuEngine

ValuEngine cut shares of Paycom Software (NYSE:PAYC) from a strong-buy rating to a buy rating in a report issued on Thursday, ValuEngine reports.

A number of other equities research analysts also recently weighed in on PAYC. Cantor Fitzgerald began coverage on shares of Paycom Software in a research note on Tuesday, June 18th. They issued a neutral rating on the stock. Canaccord Genuity raised their price target on shares of Paycom Software from $160.00 to $195.00 and gave the company a hold rating in a research note on Thursday, May 2nd. Oppenheimer raised their price objective on shares of Paycom Software from $220.00 to $255.00 and gave the company an outperform rating in a report on Wednesday. Jefferies Financial Group lowered shares of Paycom Software from a buy rating to a hold rating and set a $233.00 price objective for the company. in a report on Friday, July 19th. Finally, Credit Suisse Group raised their price objective on shares of Paycom Software from $190.00 to $235.00 and gave the company a neutral rating in a report on Wednesday. They noted that the move was a valuation call. Ten investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $216.29.

Shares of PAYC traded down $1.36 during mid-day trading on Thursday, reaching $236.52. The company had a trading volume of 507,157 shares, compared to its average volume of 621,837. The business’s 50 day moving average price is $232.38. Paycom Software has a 1-year low of $107.46 and a 1-year high of $246.85. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.08. The company has a market cap of $13.92 billion, a P/E ratio of 108.50, a price-to-earnings-growth ratio of 3.38 and a beta of 1.59.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings results 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 40.09%. The company had revenue of $169.30 million for the quarter, compared to the consensus estimate of $163.88 million. During the same period last year, the company posted $0.59 EPS. The firm’s quarterly revenue was up 31.4% compared to the same quarter last year. On average, analysts anticipate that Paycom Software will post 2.74 earnings per share for the current year.

In other Paycom Software news, insider Bradley Scott Smith sold 2,600 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $200.95, for a total transaction of $522,470.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Jon Evans sold 2,047 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $200.30, for a total transaction of $410,014.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 31,747 shares of company stock valued at $6,546,721. 16.09% of the stock is owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the business. Global Retirement Partners LLC raised its holdings in Paycom Software by 100.0% during the 1st quarter. Global Retirement Partners LLC now owns 200 shares of the software maker’s stock worth $38,000 after purchasing an additional 100 shares during the last quarter. CWM LLC acquired a new stake in shares of Paycom Software during the 1st quarter worth approximately $45,000. Pittenger & Anderson Inc. grew its position in shares of Paycom Software by 1,125.0% during the 1st quarter. Pittenger & Anderson Inc. now owns 245 shares of the software maker’s stock worth $46,000 after buying an additional 225 shares during the period. Flagship Harbor Advisors LLC grew its position in shares of Paycom Software by 404.8% during the 2nd quarter. Flagship Harbor Advisors LLC now owns 212 shares of the software maker’s stock worth $48,000 after buying an additional 170 shares during the period. Finally, Icon Wealth Partners LLC acquired a new stake in shares of Paycom Software during the 1st quarter worth approximately $53,000. Hedge funds and other institutional investors own 74.48% of the company’s stock.

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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