Paycom Software (NYSE:PAYC) PT Raised to $275.00

Paycom Software (NYSE:PAYC) had its price objective lifted by KeyCorp from $246.00 to $275.00 in a research report sent to investors on Wednesday morning, The Fly reports. KeyCorp currently has an overweight rating on the software maker’s stock.

A number of other equities analysts have also weighed in on PAYC. Oppenheimer boosted their price target on shares of Paycom Software from $175.00 to $220.00 and gave the stock an outperform rating in a research report on Wednesday, May 1st. Northland Securities boosted their price target on shares of Paycom Software from $215.00 to $275.00 and gave the stock an outperform rating in a research report on Tuesday, July 9th. ValuEngine upgraded shares of Paycom Software from a buy rating to a strong-buy rating in a research report on Friday, June 7th. Credit Suisse Group boosted their price target on shares of Paycom Software from $190.00 to $235.00 and gave the stock a neutral rating in a research report on Wednesday. They noted that the move was a valuation call. Finally, Jefferies Financial Group lowered shares of Paycom Software from a buy rating to a hold rating and set a $233.00 price target on the stock. in a research report on Friday, July 19th. Ten equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $216.29.

Shares of NYSE PAYC traded down $1.36 during trading on Wednesday, hitting $236.52. The company had a trading volume of 507,157 shares, compared to its average volume of 621,837. The firm’s fifty day simple moving average is $232.38. Paycom Software has a fifty-two week low of $107.46 and a fifty-two week high of $246.85. The firm has a market capitalization of $13.92 billion, a price-to-earnings ratio of 108.50, a price-to-earnings-growth ratio of 3.38 and a beta of 1.59. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.08.

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, topping analysts’ consensus estimates of $0.61 by $0.14. The firm had revenue of $169.30 million for the quarter, compared to analyst estimates of $163.88 million. Paycom Software had a net margin of 23.93% and a return on equity of 40.09%. Paycom Software’s quarterly revenue was up 31.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.59 earnings per share. Sell-side analysts predict that Paycom Software will post 2.74 EPS for the current year.

In other Paycom Software news, COO Jon Evans sold 2,047 shares of Paycom Software stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $200.30, for a total transaction of $410,014.10. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Jeffrey D. York sold 25,000 shares of Paycom Software stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $204.37, for a total transaction of $5,109,250.00. The disclosure for this sale can be found here. Insiders have sold 31,747 shares of company stock worth $6,546,721 over the last ninety days. 16.09% of the stock is owned by insiders.

A number of hedge funds have recently modified their holdings of the business. Spectrum Management Group Inc. purchased a new position in Paycom Software during the second quarter worth about $296,000. Mondrian Capital Management LLC purchased a new stake in shares of Paycom Software in the 2nd quarter valued at approximately $2,721,000. Swiss National Bank raised its stake in shares of Paycom Software by 78.4% in the 2nd quarter. Swiss National Bank now owns 162,000 shares of the software maker’s stock valued at $36,729,000 after acquiring an additional 71,203 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Paycom Software in the 2nd quarter valued at approximately $1,129,000. Finally, Sigma Planning Corp purchased a new stake in shares of Paycom Software in the 2nd quarter valued at approximately $236,000. 74.48% of the stock is currently owned by institutional investors.

Paycom Software Company Profile

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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The Fly

Analyst Recommendations for Paycom Software (NYSE:PAYC)

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