Paycom Software, Inc. (PAYC) Receives Hold Rating from Mizuho

Paycom Software, Inc. (NYSE:PAYC)‘s stock had its “hold” rating reissued by equities research analysts at Mizuho in a report issued on Tuesday, August 1st. They currently have a $70.00 price objective on the software maker’s stock. Mizuho’s target price points to a potential downside of 0.36% from the company’s previous close.

The analysts wrote, “We believe management continues to execute against the opportunity in the mid-market and await further commentary on the call. 3Q17 revenue outlook largely in-line with consensus; upper end of profitability outlook inline with consensus. For the third quarter, management expects revenue of $99-101mm (up 28-31% Y/Y) vs. consensus of $99.5mm. Adj. EBITDA guidance came in at $21-23mm (or margin of 21-23%; down 50-250bps Y/Y), which compares with consensus of $23mm. Again, we point out that the year-over-year decline in margins is the result of tough compares vs. FY16 as a result of timing of ACA-related pull-ins of new business. Margin guidance compares with consensus estimates of 22.7%. We are reviewing our estimates. The conference call is scheduled for 5PM ET. Dial-in number for the call is (866) 270-1533.””

Several other brokerages have also recently issued reports on PAYC. UBS AG restated a “buy” rating on shares of Paycom Software in a research note on Wednesday, May 3rd. Barclays PLC restated a “buy” rating and set a $74.00 price objective on shares of Paycom Software in a research note on Wednesday, July 19th. Jefferies Group LLC upped their price objective on Paycom Software from $69.00 to $73.00 and gave the company a “buy” rating in a research note on Wednesday, May 3rd. Canaccord Genuity upped their price objective on Paycom Software from $70.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, June 27th. Finally, Zacks Investment Research cut Paycom Software from a “buy” rating to a “hold” rating in a research note on Monday, May 8th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Paycom Software has an average rating of “Buy” and an average target price of $75.36.

Shares of Paycom Software (NYSE:PAYC) traded down 0.28% during midday trading on Tuesday, hitting $70.25. The stock had a trading volume of 329,062 shares. The stock has a 50 day moving average of $69.36 and a 200-day moving average of $62.20. Paycom Software has a one year low of $39.15 and a one year high of $73.61. The company has a market cap of $4.07 billion, a P/E ratio of 76.19 and a beta of 1.75.

Paycom Software (NYSE:PAYC) last announced its quarterly earnings data on Tuesday, August 1st. The software maker reported $0.24 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.11. Paycom Software had a return on equity of 35.77% and a net margin of 14.28%. The firm had revenue of $98.20 million for the quarter, compared to analysts’ expectations of $95.98 million. During the same quarter in the prior year, the firm posted $0.21 earnings per share. Paycom Software’s revenue for the quarter was up 32.9% compared to the same quarter last year. Analysts forecast that Paycom Software will post $1.15 EPS for the current fiscal year.

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In other news, insider Stacey M. Pezold sold 30,000 shares of the 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 at this hyperlink. Also, insider Jeffrey D. York sold 40,000 shares of the 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 disclosure for this sale can be found here. 17.90% of the stock is owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in PAYC. Strs Ohio raised its stake in Paycom Software by 342.9% in the first quarter. Strs Ohio now owns 3,100 shares of the software maker’s stock worth $178,000 after buying an additional 2,400 shares during the last quarter. Sapphire Star Partners LP raised its stake in Paycom Software by 3.6% in the first quarter. Sapphire Star Partners LP now owns 11,338 shares of the software maker’s stock worth $652,000 after buying an additional 392 shares during the last quarter. Granite Investment Partners LLC raised its stake in Paycom Software by 10.4% in the first quarter. Granite Investment Partners LLC now owns 203,933 shares of the software maker’s stock worth $11,728,000 after buying an additional 19,214 shares during the last quarter. Sit Investment Associates Inc. acquired a new stake in Paycom Software during the first quarter worth about $627,000. Finally, Fisher Asset Management LLC raised its stake in Paycom Software by 52.7% in the first quarter. Fisher Asset Management LLC now owns 205,570 shares of the software maker’s stock worth $11,822,000 after buying an additional 70,939 shares during the last quarter. 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.

Analyst Recommendations for Paycom Software (NYSE:PAYC)

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