Paycom Software, Inc. (NYSE:PAYC)‘s stock had its “sector perform” rating restated by Royal Bank Of Canada in a report released on Tuesday, August 8th. They currently have a $74.00 target price on the software maker’s stock, up from their previous target price of $67.00. Royal Bank Of Canada’s price objective points to a potential upside of 5.34% from the company’s previous close.
Several other research firms have also recently weighed in on PAYC. UBS AG reissued a “buy” rating on shares of Paycom Software in a report on Wednesday, May 3rd. Barclays PLC reaffirmed a “buy” rating and set a $74.00 target price on shares of Paycom Software in a report on Wednesday, July 19th. Jefferies Group LLC raised their target price on shares of Paycom Software from $69.00 to $73.00 and gave the stock a “buy” rating in a report on Wednesday, May 3rd. Canaccord Genuity raised their target price on shares of Paycom Software from $70.00 to $80.00 and gave the stock a “buy” rating in a report on Tuesday, June 27th. Finally, Oppenheimer Holdings, Inc. raised their target price on shares of Paycom Software from $65.00 to $75.00 and gave the stock an “outperform” rating in a report on Wednesday, August 2nd. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $75.36.
Paycom Software (PAYC) traded down 0.28% during midday trading on Tuesday, reaching $70.25. The company had a trading volume of 329,062 shares. The firm has a market capitalization of $4.07 billion, a P/E ratio of 76.19 and a beta of 1.75. Paycom Software has a one year low of $39.15 and a one year high of $73.61. The stock’s 50 day moving average price is $69.29 and its 200-day moving average price is $62.03.
Paycom Software (NYSE:PAYC) last released its quarterly earnings results on Tuesday, August 1st. The software maker reported $0.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.11. The firm had revenue of $98.20 million for the quarter, compared to analysts’ expectations of $95.98 million. Paycom Software had a net margin of 14.28% and a return on equity of 35.77%. The business’s revenue was up 32.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.21 EPS. On average, equities research analysts anticipate that Paycom Software will post $1.15 earnings per share for the current year.
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In other Paycom Software news, insider Jeffrey D. York sold 40,000 shares of the firm’s stock in a transaction that occurred 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 at this link. Also, insider Stacey M. Pezold sold 30,000 shares of the firm’s stock in a transaction that occurred 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. Company insiders own 17.90% of the company’s stock.
A number of hedge funds have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Paycom Software by 10.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,835 shares of the software maker’s stock worth $126,000 after buying an additional 167 shares in the last quarter. PNC Financial Services Group Inc. raised its position in shares of Paycom Software by 7.2% in the second quarter. PNC Financial Services Group Inc. now owns 2,220 shares of the software maker’s stock worth $152,000 after buying an additional 150 shares during the period. Strs Ohio raised its position 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 worth $178,000 after buying an additional 2,400 shares during the period. Bfsg LLC acquired a new position in shares of Paycom Software during the first quarter worth approximately $203,000. Finally, Raymond James Trust N.A. acquired a new position in shares of Paycom Software during the second quarter worth approximately $203,000. 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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