Paycom Software, Inc. (PAYC) Stock Rating Lowered by Zacks Investment Research
Paycom Software, Inc. (NYSE:PAYC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.
According to Zacks, “Provider of cloud-based HCM software as a service solution, Paycom has outperformed the industry over the last one year. Revenue growth seems to be steady and was positively impacted by higher recurring revenues and higher traction in cloud-based offerings. Better-than-expected demand for advanced human capital management and payroll software solutions during the reported quarter were the other positives. We believe that the higher adoption of Paycom Software’s Affordable Care Act (“ACA”) dashboard application that tracks employee count, employee status and health care plan affordability will act as a tailwind in the long run. Going ahead, Paycom might witness long-term growth by successfully cross-selling newer products to the existing client base, which will boost revenues. Nevertheless, competition from peers remains a headwind.”
Several other research firms have also recently weighed in on PAYC. Credit Suisse Group increased their price target on Paycom Software from $70.00 to $78.00 and gave the company an “outperform” rating in a report on Wednesday, August 2nd. Jefferies Group LLC reissued a “buy” rating and set a $73.00 price target on shares of Paycom Software in a report on Thursday, June 8th. Wunderlich increased their price target on Paycom Software from $62.00 to $73.00 and gave the company a “buy” rating in a report on Wednesday, May 3rd. Wells Fargo & Company began coverage on Paycom Software in a report on Thursday, May 11th. They set an “outperform” rating and a $75.00 price target on the stock. Finally, Canaccord Genuity increased their price target on Paycom Software from $70.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday, June 27th. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Paycom Software presently has a consensus rating of “Buy” and a consensus target price of $75.36.
Paycom Software (NYSE PAYC) opened at 72.77 on Friday. The company’s 50 day moving average price is $70.15 and its 200-day moving average price is $63.20. Paycom Software has a 12-month low of $39.15 and a 12-month high of $74.82. The firm has a market capitalization of $4.22 billion, a price-to-earnings ratio of 78.93 and a beta of 1.75.
Paycom Software (NYSE:PAYC) last released its quarterly earnings data on Tuesday, August 1st. The software maker reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.11. The business had revenue of $98.20 million for the quarter, compared to analysts’ expectations of $95.98 million. Paycom Software had a return on equity of 35.77% and a net margin of 14.28%. The firm’s quarterly revenue was up 32.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.21 EPS. On average, equities analysts anticipate that Paycom Software will post $1.15 earnings per share for the current fiscal year.
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In other news, insider Stacey M. Pezold sold 30,000 shares of the company’s stock in a transaction on Monday, June 19th. The stock was sold at an average price of $70.15, for a total value of $2,104,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeffrey D. York sold 40,000 shares of the company’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $66.93, for a total value of $2,677,200.00. The disclosure for this sale can be found here. Corporate insiders own 17.90% of the company’s stock.
Several large investors have recently bought and sold shares of PAYC. Lord Abbett & CO. LLC raised its stake in Paycom Software by 43.6% in the second quarter. Lord Abbett & CO. LLC now owns 562,989 shares of the software maker’s stock valued at $38,514,000 after buying an additional 170,932 shares during the period. HWG Holdings LP raised its stake in Paycom Software by 100.0% in the second quarter. HWG Holdings LP now owns 34,223 shares of the software maker’s stock valued at $2,341,000 after buying an additional 17,110 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in Paycom Software during the second quarter valued at approximately $455,000. Koch Industries Inc. bought a new stake in Paycom Software during the second quarter valued at approximately $271,000. Finally, 1st Global Advisors Inc. raised its stake in Paycom Software by 1.4% in the second quarter. 1st Global Advisors Inc. now owns 5,567 shares of the software maker’s stock valued at $381,000 after buying an additional 75 shares during the period. Hedge funds and other institutional investors own 90.42% of the company’s stock.
Paycom Software Company Profile
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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