Paycom Software, Inc. (NYSE:PAYC) Receives Sector Perform Rating from Royal Bank Of Canada
Royal Bank Of Canada reiterated their sector perform rating on shares of Paycom Software, Inc. (NYSE:PAYC) in a research note released on Tuesday. They currently have a $74.00 target price on the software maker’s stock, up from their previous target price of $67.00.
Several other equities analysts have also recently commented on PAYC. UBS AG reissued a buy rating on shares of Paycom Software in a research report on Wednesday, May 3rd. Canaccord Genuity raised their price target on shares of Paycom Software from $80.00 to $85.00 and gave the company a buy rating in a research report on Wednesday, August 2nd. Jefferies Group LLC reissued a buy rating and issued a $83.00 price target (up previously from $73.00) on shares of Paycom Software in a research report on Wednesday, August 2nd. KeyCorp raised their price target on shares of Paycom Software to $94.00 in a research report on Wednesday, August 2nd. Finally, Mizuho reissued a hold rating and issued a $70.00 price target on shares of Paycom Software in a research report on Tuesday, August 1st. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Paycom Software presently has a consensus rating of Buy and a consensus price target of $75.36.
Shares of Paycom Software (NYSE PAYC) traded up 1.23% during mid-day trading on Tuesday, hitting $68.96. The company had a trading volume of 365,989 shares. The firm has a 50-day moving average price of $69.27 and a 200 day moving average price of $61.41. The firm has a market capitalization of $4.00 billion, a price-to-earnings ratio of 74.79 and a beta of 1.75. Paycom Software has a 52-week low of $39.15 and a 52-week high of $73.61.
Paycom Software (NYSE:PAYC) last issued its quarterly earnings results on Tuesday, August 1st. The software maker reported $0.24 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.11. Paycom Software had a net margin of 14.28% and a return on equity of 35.77%. The company had revenue of $98.20 million during the quarter, compared to analysts’ expectations of $95.98 million. During the same quarter last year, the company posted $0.21 EPS. The firm’s revenue was up 32.9% compared to the same quarter last year. Analysts expect that Paycom Software will post $1.15 earnings per share for the current year.
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In other news, insider Jeffrey D. York sold 40,000 shares of the firm’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $66.93, for a total value of $2,677,200.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Stacey M. Pezold sold 30,000 shares of the firm’s stock in a transaction on Monday, June 19th. The shares were sold at an average price of $70.15, for a total transaction of $2,104,500.00. The disclosure for this sale can be found here. 17.90% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in the stock. Geneva Advisors LLC raised its stake in shares of Paycom Software by 129.3% in the first quarter. Geneva Advisors LLC now owns 10,850 shares of the software maker’s stock worth $624,000 after buying an additional 6,118 shares during the last quarter. Dillon & Associates Inc. raised its stake in shares of Paycom Software by 24.7% in the first quarter. Dillon & Associates Inc. now owns 12,300 shares of the software maker’s stock valued at $713,000 after buying an additional 2,440 shares in the last quarter. Strs Ohio raised its stake in shares of Paycom Software by 342.9% in the first quarter. Strs Ohio now owns 3,100 shares of the software maker’s stock valued at $178,000 after buying an additional 2,400 shares in the last quarter. Sapphire Star Partners LP raised its stake in shares of Paycom Software by 3.6% in the first quarter. Sapphire Star Partners LP now owns 11,338 shares of the software maker’s stock valued at $652,000 after buying an additional 392 shares in the last quarter. Finally, Granite Investment Partners LLC raised its stake in shares of Paycom Software by 10.4% in the first quarter. Granite Investment Partners LLC now owns 203,933 shares of the software maker’s stock valued at $11,728,000 after buying an additional 19,214 shares in the last quarter. Institutional investors and hedge funds own 91.03% 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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