Paycom Software’s (PAYC) “Neutral” Rating Reaffirmed at Bank of America

Bank of America reissued their neutral rating on shares of Paycom Software (NYSE:PAYC) in a report issued on Wednesday morning, Briefing.com Automated Import reports. The brokerage currently has a $250.00 price target on the software maker’s stock, up from their previous price target of $215.00.

Other equities analysts have also issued research reports about the stock. Canaccord Genuity upped their price target on shares of Paycom Software from $160.00 to $195.00 and gave the stock a hold rating in a research report on Thursday, May 2nd. Cantor Fitzgerald started coverage on shares of Paycom Software in a research report on Tuesday, June 18th. They set a neutral rating for the company. Oppenheimer upped 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. Zacks Investment Research lowered shares of Paycom Software from a buy rating to a hold rating in a research report on Monday, May 6th. Finally, Barclays upped their price target on shares of Paycom Software from $175.00 to $185.00 and gave the stock an equal weight rating in a research report on Wednesday, May 1st. Ten investment analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $216.29.

Shares of NYSE PAYC traded down $1.31 on Wednesday, hitting $239.44. The company’s stock had a trading volume of 278,585 shares, compared to its average volume of 491,960. The company has a 50 day simple moving average of $231.50. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.04 and a quick ratio of 1.04. The stock has a market cap of $14.09 billion, a P/E ratio of 109.83, a price-to-earnings-growth ratio of 3.28 and a beta of 1.63. Paycom Software has a 12-month low of $100.87 and a 12-month high of $246.85.

Paycom Software (NYSE:PAYC) last posted its quarterly earnings data on Tuesday, July 30th. The software maker reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.14. The business had revenue of $169.30 million during the quarter, compared to analyst estimates of $163.88 million. Paycom Software had a net margin of 23.38% and a return on equity of 39.02%. The company’s revenue was up 31.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.59 earnings per share. On average, sell-side analysts forecast that Paycom Software will post 2.6 earnings per share for the current fiscal year.

In other Paycom Software news, insider Bradley Scott Smith sold 2,600 shares of the stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $200.95, for a total transaction of $522,470.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Jon Evans sold 2,047 shares of the stock in a transaction on Monday, May 13th. The shares were sold at an average price of $200.30, for a total transaction of $410,014.10. The disclosure for this sale can be found here. Insiders sold 31,747 shares of company stock valued at $6,546,721 over the last 90 days. Insiders own 16.09% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of PAYC. SeaCrest Wealth Management LLC increased its holdings in shares of Paycom Software by 1.9% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 2,700 shares of the software maker’s stock worth $612,000 after acquiring an additional 50 shares during the period. Comerica Bank increased its stake in Paycom Software by 2.6% during the 1st quarter. Comerica Bank now owns 2,206 shares of the software maker’s stock valued at $414,000 after buying an additional 56 shares during the period. Raymond James Trust N.A. increased its stake in Paycom Software by 4.9% during the 2nd quarter. Raymond James Trust N.A. now owns 1,519 shares of the software maker’s stock valued at $344,000 after buying an additional 71 shares during the period. Intrust Bank NA increased its stake in Paycom Software by 1.3% during the 1st quarter. Intrust Bank NA now owns 5,642 shares of the software maker’s stock valued at $1,067,000 after buying an additional 74 shares during the period. Finally, Advisory Services Network LLC increased its stake in Paycom Software by 10.4% during the 4th quarter. Advisory Services Network LLC now owns 905 shares of the software maker’s stock valued at $111,000 after buying an additional 85 shares during the period. Hedge funds and other institutional investors own 74.48% of the company’s stock.

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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Analyst Recommendations for Paycom Software (NYSE:PAYC)

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